Millennials are thirsty for music and are constantly immersing themselves in at every opportunity, to the point where it is fundamentally altering the music industry, impacting both traditional retail sales of music and digital streaming.
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In this latest post from MusicThinkTank, Daniel Matthews explores the dramatic effect which millennials are having on music consumption and the music industry as a whole.
“Millennials are walking a line with the music industry the likes of which the world has never seen: the line between destruction and creation. Keep these factors in mind: millennials value people and experiences, and we are open to changing the world with new tech.
Back when millennials were teenagers, two of them decided to completely upend the way people consume music. The service they invented was called Napster. “This system, what’s most interesting about it is, you’re interacting with peers, you’re exchanging information with a person down the street.” That’s a quote from Napster co-founder Shawn Fanning. Note that the millennial traits are fully on display in this quote. Napster allowed people to share the music experience with other people. “