The Evolution Of The Internet Radio

2053 Words9 Pages
The evolution of music has taken exponential routes into our homes. The vast market for the consumers who always like to have music playing have a variety of options to choose from. There is the origin company of Pandora that has spearheaded the entire industry, as well as Spotify who has reimagined the internet radio genre. Spotify is one of the top companies in today’s society, including its Premium version which offers discounts to students. Apple Music and Tidal are companies with strong backgrounds, but are actually struggling to manifest some success in their revenues. SoundCloud is a newer and more diverse music streaming site, since it allows the freedom of any individual to upload their own music to the world and allowing anyone…show more content…
In this report, we examine the market for streaming music through the internet. I discuss five successful companies and possible segments for each of them that solidify the growing market for internet radio. Specifically, the customer segment of females who are teens to their early 20’s who are mid to high class college students would be targeted from Spotify. The beginnings of the new service have started less than a decade ago but has already been a huge factor of how people listen to their music. Instead of buying physical, hard copies of an artist’s album, people either buy the song digitally or now use a specific software that will allow them to stream and listen to any song they want for free. The use of applications on smartphones also aid in this world-wide domination of internet radio. Normally, the trial versions of this software will include advertisements by companies who pay the streaming music companies. If someone has an aversion to all of the commercials, there is a monthly payment subscription where no advertisements will interrupt the streaming of their music. One of the most powerful forms of art and expression has gone digital. There is no secret that music can influence millions. The music industry has always contributed to society’s biggest icons and created revenues that exceed lottery numbers. Key players of this new wave of streaming music would be Spotify, Pandora, Apple Music, SoundCloud, and Tidal. These five
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