MusiComms Identifies Top 5 New Music Opportunities of 2017
Global Organization Details How Music will Enhance Customer
Experience Across New Industries
LAS VEGAS–(BUSINESS WIRE)–#IoT—MusiComms™,
the leading organization dedicated to the future of music distribution,
announced today the top five new music opportunities for 2017. Based on
a January 2017 survey, MusiComms has identified top areas for music
industry growth. They include: Telecom, the Internet of Things (IoT),
Energy, Automotive, and Healthcare. In these industries, the customer
experience is of the utmost importance and, according to MusiComms,
music is the key element for improving customer experience and
generating new revenue opportunities.
“In today’s ubiquitously connected world, multiple industries are trying
to figure out how they can take advantage of digital advancements to
innovate and improve their customers’ experience,” said Juliet Shavit,
Executive Director of MusiComms. “While most people do not think of
music in this way, music plays a very important role in how to create
customer engagement. This year, by leveraging music as a strategic tool,
there are many opportunities for companies to improve their customer
experience and engagement strategies.”
There will be many new and unexpected platforms for music distribution
and below are the top five that MusiComms sees coming to the forefront
in 2017.
Telecom
Telecom is of course no surprise to MusiComms. Last year, the
organization revealed that the majority of consumers said they would
switch wireless providers if promised free music streaming. This year
the January 2017 survey pointed out that the majority of consumers who
took the survey (42.6%) want their wireless providers to be their
primary music service providers. This significantly surpassed third
party applications and streaming services who followed at a much lower
26.6%.
The telecom industry has always been a very competitive space with
communications service providers striving to edge out each other by
offering the best customer experience. With the influx of IoT, virtual
reality, and augmented reality, there is a significant opportunity for
telcos to monetize and strategically use music.
IoT
With CES upon us, all the buzz is about IoT and the latest connected
devices. With this increased digitization of traditional industries,
there is a need for ensuring and improving the customer experience.
Consumers want seamless access to their music and connected devices are
providing this opportunity. As more industries focus on IoT as part of
their business strategy, music will emerge as an essential tool for
customer experience.
This month’s music survey identified the top three most desired music
streaming providers as mobile operators, followed by automotive
manufacturers and energy companies. In a world of mobile integration and
connectivity, IoT seems to be critical to new service streaming
applications.
In this way, IoT opens up new communications channels and business needs
to reach customers, and music is proving a smart tool for that.
Energy
As utilities and energy companies already have a gateway into the home,
offering music as part of a customer’s utility service is a no-brainer.
In fact, new research from MusiComms points to an increasing number of
customers under the age of 45 interested in music streaming from their
utility provider. There is a real opportunity for energy service
providers to own the in-home experience through expanded music and
entertainment offerings that will ultimately enhance the customer
experience.
“Whether they are looking for services from an in-home provider they
trust, or whether the idea of music and energy fit into the next-gen AI
home experience, this is an important finding,” adds Shavit.
Automotive
Listening to music in the car is part of most consumers’ daily lives,
but the survey suggests that automobile manufacturers may want to
consider monetizing this new customer engagement tool. By rolling out
their own music streaming services like warranties, cloud-based vehicle
services could provide a new revenue stream while keeping customers
satisfied. As the top third choice for music streaming, the automotive
industry should listen to customers asking for in-vehicle music services.
Healthcare
While not a primary obvious consumer choice, the evolution of the
healthcare industry and new IoT applications are making the link between
listening and recovery stronger than ever. There is also a real healthy
financial market looking for the next big thing in patient satisfaction.
MusiComms believes that music has the power to heal and bring a new
level of customer experience to the healthcare space.
For more information on these new music opportunities or to receive the
2017 MusiComms music survey results, please contact info@musicomms.com
or visit: musicomms.com.
About MusiComms™
MusiComms™ is a global initiative dedicated to collaboration between the
music and communications industries with the goal of seeking out new
opportunities for innovation and long-term sustainability and
profitability of both markets.
As a consortium, MusiComms™ hosts a number of activities that bring
together leadership from music and technology-driven industries to
develop, innovate and implement new revenue models and marketing
opportunities, with the ultimate goal of leveraging music to distinguish
brand and fuel business opportunities.
Contacts
MusiComms
Lindsay Cavanaugh, +1-215-504-4272
lcavanaugh@smartmarkusa.com
