"Bye-Bye-Bye" wasn't a song about the music industry's revenue stream, was it?
The year was 1999. It was just fifteen years ago, but in that time the revenue stream for the music industry has changed drastically! According to a report from Fast Company, the music industry brought in $14.6 billion in 1999. By, 2014, that figure had dropped sharply by more than 50 percent to $7 billion.
Does anyone hear N'Sync's upbeat tones ringing out with a chorus of Bye, Bye, Bye?
So...what's happened? Are people NOT listening to tunes anymore? Of course, they are...if I see one more 70 year old doing the Whip-Nae-Nae, I might need to bust a move myself! So, what exactly is happening in an industry that is even more rapidly evolving than anything you see coming out of Silicon Valley.
This week BrandVision Marketing's facebook page is sharing a look at a rapidly evolving industry. Check it out and share before you do your next Whip-Nae-Nae at facebook.com/BrandVisionMarketing .