Music streaming is at an all time high, as it makes up 50% of total music industry revenues as of 2016. According to Eventbrite, music-streaming services act as an aspirational funnel, where many listeners discover new music via streaming, and then attempt to see those artists live in the future (51%). Music fans now expect to be able to engage with their favorite brands. For some, their favorite musicians are their favorite brands. However, music streaming has not reached its full potential yet. Leading streaming services like Spotify and Apple music currently offer highly personalized and curated playlists for users. Although playlists are commonly used, they do not leverage a social element. Mary Meeker, an expert on Internet trends and partner at Kleiner Perks Caufield & Buyers, argues that playlist curation drives user engagement in an “individualized, rather than social, manner”. Think about it: Do you value Taylor Swift, or do you value the friends you have whom you sang “Love Story” with at 1:00am at your local pub’s Karaoke night? Do you value Rae Sremmurd, or do you value the experience you had when your entire office did the Mannequin Challenge as part of a social media stunt? To fans, music includes the combination of both the artist and the context of which they consume that artist’s music. Think about the Vinyl industry: Sony has decided to start making vinyl’s again for the first time since 1989. Why? Well, because the rich history and cultural significance of vinyl creates a unique medium for immersing yourself in your music. It’s an experience, just like a party or festival. This is why music festivals (especially in the United States) have become the ultimate expression of new experiences, as they have become inclusive platforms for learning, activism, and opportunity, to create long-lasting memories with friends.
Experience
Music festivals go beyond seeing your favorite artists perform. They are essentially one conglomerate of people with one common mission to celebrate life through new experiences. Naturally, this can lead to the cultivation of long lasting memories and new relationships that are often found through alternative experiences that may have nothing to do with music itself. This includes things like riding on Ferris wheels and roller coasters, seeing theatrical plays, getting henna tattoos, participating in weddings, going to spiritual sanctuaries, attending workshops; the list goes on forever. Although one might come to see their favorite artists, they walk away with a series of memories that brands (including artists) created for them.
Technology and Connectivity
With new technology pouring into the industry, festivalgoers are now able to experience festivals in new ways. This starts with the little things, like RFID’s that attach credit cards to festival wristbands, creating a cashless system that ultimately leads to more purchases on merchandise, food etc. This also includes the use of the Oculus Rift to see festivals through virtual reality, or using augmented reality to produce holograms of artists on stage (Tupac with Snoop Dogg, Coachella 2012).
Moreover, through things like Snapchat filters, Geo-tags, and live streaming, festivals foster envy for those who end up watching the festival via their friends’ social media handles. Technology shapes the way music is experienced, from creating new immersive realities for those that are both present and at home.
Learning and Activism
Yes, that’s right! As of late, festivalgoers have become active learners, as the implementation of culturally relevant phenomena at events provokes new levels of experimentation and participation. For example, tapping into fitness and wellness trends have become increasingly popular, as festivals such as Coachella (California, USA) and Electric Forrest (Michigan, USA) offer yoga classes and massages, while providing a variety of vegetarian and vegan food options. A variety of festivals have combined these activities with green initiatives, including the implementation of solar energy, hosting speakers and workshops on sustainability, and providing financial incentives for using car-sharing services, picking up trash, composting, and recycling. Music festivals attract all kinds of people with from all over the world, all of who are accustomed to different environments. This can inspire behavioral changes. For example, if you know nothing about composting, yet the majority of your peers at the festival are composting, you might feel uncomfortable with your lack of knowledge and start to change your behavior.
Implications For The Future
At some point, all consumers expect to interact with their music in a variety of contexts, offering more unique experiences. This will include the implementation of new technology, like VR, AR, IoT and AI programming, where new mobile, car, and home technologies will effect how and where you listen to music. For example, Spotify has curated playlists based on a user’s mood. What if playlists could be curated based on emotions depicted in your tone of voice or facial expression? What if a hologram of Taylor Swift appeared in your driver’s seat and sang with you on your road trip home? The future of music, although embedded with new technology, is founded on the pillar of experience, as music streaming will aspire to create emotional connections with listeners in similar ways to those of music festivals. With this in mind, it is vital that brands start to think about new ways they can create immersive, social experiences. If the future of technology creates a fully connected world, how else can someone use music as a platform to obtain those experiences? Where else? Bring people together in ways that weren’t possible before. Look for nooks and crannies in communities and seize opportunities to turn the ordinary and overlooked into something special and memorable.
Notes
1. http://www.huffingtonpost.com/jeremy-wilson/the-future-of-music-festi_b_6806904.html
3. https://www.theguardian.com/music/2016/apr/08/music-festivals-of-the-future-bestival-glastonbury-aif
5. http://www.kpcb.com/internet-trends
7. http://www.ifpi.org/facts-and-stats.php
8. https://www.canvas8.com/signals/2017/06/26/concert-gear.html
10. https://www.stylus.com/tqykdr
11. https://www.canvas8.com/signals/2017/07/04/yoga-festivals.html
12. https://musicindustryblog.wordpress.com/category/major-labels/
13. http://www.prosoundnetwork.com/festival-business/considering-the-future-of-music-festivals/47263
14. https://www.canvas8.com/content/2014/08/11/why-people-go-to-music-festivals.html