VR Has Interesting Benefits to Music Industry
AudioSalad has a VR player for music streaming. It’s an interesting product that embodies the evolution of music that has gone from a 12 inch vinyl record to a 375X599 pixel phone screen or an iPod for example. Most people tend to listen to music now on their phones. CD’s seem to be long in the past.
To pick a song with AudioSalad’s VR player, you need to put on a VR headset and turn around up to 270 degrees. That can tend to make people feel a bit dizzy. However, it’s an intriguing way to pick and listen to music. VR in general is exciting. Strategy Analytics predicts that VR headset revenues across the world will be at $895 million in 2016. Digi Capital predicts that augmented reality and virtual reality could reach $120 billion by $2025.
Companies Running to VR
Because of these massive projections, companies have been running towards VR. The music industry is an industry that’s really needing to find ways to generate more revenue, so VR is one potential obvious solution. We’ve seen VR in music recently through the Coachella and Lollapalooza festivals. The VR content enabled people to see behind the scenes footage, interviews and even view some of the concerts.
New York Times VR Video
The New York Times even filmed a VR video that showed Syd da Kid and her brand, The Internet as they created a new song. Run the Jewels and Bjork are some of the other artists that have created VR content with their music recently. Typically, the point of the content is to allow people to experience things they may not be able to experience otherwise such as standing right next to the performer or being in the studio while a well known musician creates a new song.
All of that is awesome. However, there’s now talks about how VR will go from storytelling to affecting people’s everyday lives.
Steven Sinofsky is a board partner at Andreessen Horowitz.
He said, “being labeled a toy is necessary, but not sufficient, to become the next big thing.” The music industry looks as though it’s realizing VR is not just a toy. One of the intriguing uses of VR recently was shown through eBay owned, StubHub, which used VR to enable people going to the Final Four to see their seat previews in an immersive way before deciding on what seats to purchase.
eBay’s CEO, Devin Wenig thinks that for VR to be successful, it needs to tap into “emotionally driven categories where the trust gap is hard to bridge.”
VR is one of the very few ways where looking is kind of like doing as observation and action are mixed together.
VR Brings Interesting Benefits to Music Industry
Music companies often accuse streaming services such as Spotify of keeping large royalties to the tune of $50 to $75 million or more. A lot of the inaccurate payments come from inaccurate metadata. So maybe VR experiences could be developed around metadata to motivate customers and empower creators. It could help people to visualize the system behind each music file such as the songwriters, singers, producers, publishers, managers and more. This would give a full complex view to people to help them understand how the music industry really works and whose behind each song. Simply put, an understanding of the complexity behind the structure of music’s metadata could potentially help make people appreciate music more and potentially even get them to take action towards getting involved in the music industry.
VR probably won’t work well with all facets of the music industry, but it sure may work well with certain facets of the music industry and this is one of those examples.