As traditional business models and routes to market fall apart, the music industry provides invaluable lessons to marketers everywhere – a useful “canary in the coal mine”.
The music industry continues to suffer – and sometimes benefit – from the combined assaults of technological innovation, always-on (particularly millennial) consumers, the degradation of legal controls and copyright, start-ups and acquisitions, and the random interventions of creative egos. No industry has been disrupted so deeply or frequently, or indeed contains as many lessons or inspirations for brands and marketers in all sectors. The music industry is proving to be the preeminent crucible of disruption, with a wealth of innovations and experiments in marketing (both successful and otherwise).
By looking at four moments that occurred in 2015, we can begin to understand the volatility and opportunity that exists within the industry, as well as broader lessons for brands in all markets as they address their own particular challenges.
By Neil Dawson, Chief Strategy Officer for SapientNitro in Europe; Daniel Harvey, Creative Director and Global Practice Lead for Experience Design in SapientNitro London; and Will Anderson, Associate, Marketing Strategy and Analysis in SapientNitro London.