LAS VEGAS--(BUSINESS WIRE)--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 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.
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.
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.
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.
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.
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.