The arrival of the new Google Music service for Android users is going to give iTunes serious competition. The company announced plans for this service a while back and now they've released an exclusive look into their new venture.
Google's Music service will bring a large catalog of music thanks to several music labels that include EMI and Sony Entertainment. These companies are offering at least 13 million songs for people to stream or buy/download at their convenience. Users can upload their songs for free and listen to music anywhere even if they're offline. There will also be a feature called the Artist Hub where independent artists can create their own page at a $25 fee and sell their music with Google taking 30% from each sale.
At the moment, Google Music is only available in the U.S. Whether or not this will expand remains to be seen.
What's Driving This Trend
- Music Streaming Services
- The rise of music streaming services like Google Music provides an opportunity for innovative companies to enter the market with unique features such as curated playlists, social features and personalized recommendations.
- Artist Promotion Platforms
- The Artist Hub feature of Google Music presents a disruptive innovation opportunity for companies to build platforms that enable independent artists to promote and monetize their music through new business models that better fit their needs.
- Offline Music Access
- The ability to access music offline is a trend that will continue to grow, providing disruptive innovation opportunities for companies to develop new technologies or products that allow users to store, access and stream music without an internet connection.
Who This Affects Most
- Music Streaming Industry
- Companies in the music streaming industry can innovate by offering personalized playlists, social features, and better algorithms for music recommendations to create a more diverse and engaging user experience.
- Independent Music Industry
- With the rise of artist promotion platforms like Google Music's Artist Hub, the independent music industry has a disruptive innovation opportunity to develop new business models that cater to independent artists and provide better monetization options.
- Offline Music Storage Industry
- The growth of the offline music access trend presents an innovation opportunity for companies in the offline music storage industry to develop more efficient and cost-effective technologies for storing and accessing music without an internet connection.
