The difference in the personal experience of a physical music product or a digital download!
We have to be honest...there will be a time that digital downloaded music will be taking over the physical music sales. In fact according to PWC this will happen in the year 2015. As with most of these reports it will take maybe a year or two more. But it will happen and that is just a fact. Do you want to know why I am sure of this? No so hard to answer...there is a new generation on the HORIZON...
The Generation Z is on the Horizon.The Generation that will take over the world in a few years. They are born after 1995. So the first members of this Generation is about 17 years of age and going to School. If you look at some of the characteristics there are a few things very important that will confirm that Digital Music will take over from the Physical sales of Music product. The most important item this generation will have is their SmartPhone. The phone is not just a handy tool...it is their life. It is almost part of their body. Next to this the Generation Z is NO longer online but always be INLINE. Always connected to the digital world....So yep PWC is right and the Music Industry will getting hard times in the future.
BUT there is something very positive for the Music Industry when you take a close look at the difference between a Physical & a Digital Music product......and that will offer opportunities.....(if you think about it)
I have done (and still work in progress) a little research by asking the following questions to different people. Age from 24 till 65 years old.
1. Do you know the artist/band of the first physical music product (LP, CD, Cassette) you bought or received as a Gift?
2. Do you know your first digital download?
Provision result is that about 88% of the people exactly know the artist/band they bought or received as a Physical Music product. With regard to the second question this is about 3%. Most people know if it was a Music Cassette, LP or CD. Some even know the date and from who they received the product.
What does till tell us?
There is a big difference is the way we experience a Physical Music product compared to a Digital Music product. With the Physical shape the product has an emotional value. A value that can never be reached by a Digital Download. So the Digital world has it's downside!
So there are opportunities if we bring both worlds together. And this is absolutely possible in fact 'Tunes in a Box' is working on a product that will bring the experience back to the consumer & music industry.
If you want to know more about my research or want to know more about 'Tunes in a Box' just let me know. (0031-6-45087283 or firstname.lastname@example.org)