You know the drill. A new technology comes out and eventually it will start to get some traction. Then the word will spread about and everybody flocks to it. It’s new, it’s cool, it’s hip and its innovative. Then when it is at its peak, the people who testified for the new tech, will abandon it, looking for something new and better.
Look at the history of technology innovations and you will see a pattern.
MySpace, Facebook, Twitter are three such platforms that came, peaked and right now are suffering an identity crisis.
MySpace is finished.
Facebook got traction because it connected people in a way that MySpace couldn’t. Now, all of these connected people need to deal with the marketing of products, advertisers, like requests, fake friend requests and spam.
Twitter is well, Twitter. With so many people tweeting or having their tweets connected to their Facebook Posts or their blog posts, everything is getting lost in the mix. When a big news item hits, Twitter is the platform to go to, because people who are directly involved in these big events are the ones that are tweeting.
So what about Spotify. It has been around for a while now and in the last 3 years it set up base in a number of large music markets like Australia, Canada and of course the US.
The people tried it. Some have stuck to it. Some have abandoned it. The ones that speak out against it have never used it.
With the rise of Beats Music, expect the young ones (kids born from 1991 onwards) to go off and explore it. They will give it traction. Then the mainstream will talk about it, trump it up and the young ones will go into something else while the old guard moves in. Like Neil Young who seems to think that people really want large music files taking up large amount of space. Sort of like Facebook. It was the mecca for the youth. Then their parents joined and the youth bailed. No one wants to be friends with their parents on Facebook.
In relation to music, bands on record deals were real slow in adopting Facebook, while the independent bands started using it ASAP. I don’t even have a Facebook account anymore and when I go onto it, it is purely to see what my favourite bands are up to and what people are talking about. In a way it has become like a go to website.
Spotify however needs a game changer. Sort of like how the move to APPS changed the iTunes store. And it’s all about the FREE. Fans of music showed the world that they want FREE music to listen to. And don’t say that FREE doesn’t work. How the hell did Free To Air TV exist and grow over the last 60 years.
Beats Music needs people to vouch for it, promote it. And when people finally get around to using it, it needs to deliver. However, for the kids, YouTube does the job. And that’s the world we live in. One that has all the information that we require at our fingertips and its FREE. Notice the emphasis on FREE again. The public spoke out big time when Napster crashed the party. Our friends testified about it and then we testified about it to others. No one even raised the question of copyright infringement because it was so damn cool.
So what is cool today?
I am all over the shop when it comes to music. I still purchase CD’s from the bands I like. This is more or less done from Amazon and I get the AutoRip feature with it, so then I download the mp3 version of the album to place on my iPhone. I stream music on Spotify. I refer to YouTube. My kids are YouTube fanatics.
And the funny thing is that I don’t use iTunes anymore. Who would have thought that day would have come. And that is what Spotify needs to think about it. Now that the newness has rubbed off, what’s next. Consolidation. How can you consolidate when the modern paradigm is DISRUPTION?