Since the emergence of streaming, the music industry has once again been on the rise. This goes for nearly all music genres – except for classical music. Due to its limited range and the suboptimal listening experience with existing streaming services, this genre barely gets streamed. The promising scale-up Primephonic changes all this with their exclusive streaming service for classical music. The new Chief Marketing Officer knows how to find classical music enthusiasts worldwide and brings them into the new digital age of classical music.
TURBULENT YEARS IN THE MUSIC INDUSTRY
Until the late nineties the music industry’s growth seemed never-ending. However, the digital revolution also meant the rise of illegal downloading, which cut the music industry’s market in half in no time. Now, after fifteen years of declining revenues, streaming services are the answer. Globally, streaming has become the most popular way of listening to music and since 2015, the music industry has begun to show growth. This means more financial means have become available for the development of new talent, and artists are being compensated more fairly for their work. Nearly all music genres worldwide are profiting from this trend. Except for classical music.
CLASSICAL MUSIC IN A DIGITAL AGE
Until now, classical music has been the great absentee in the streaming revolution. While the genre makes up about 5% of the total market, it only has a market share of 1% in the streamed music market. This doesn’t just hurt the genre and its artists – it also causes great frustration among the enthusiasts. Because current streaming services are predominantly focused on pop music, the classical music on offer and its user-experience are lacking. The audio quality is often subpar to classical music enthusiasts, and the search functions as well as the algorithms for listening suggestions don’t work as well as they should.
While enjoying are nice glass of wine, three young classical music aficionados came up with a solution: a streaming service focused on classical music.