Futurist conversation: Gerd Leonhard and Ross Dawson on the future of music

Continuing our series of conversations on the future between Gerd Leonhard and myself, today’s session is on the future of music.

Here are a few of the points we made:

* There is less money than there used to be in music, and there will be even less money in future, but music will still prosper
* Collaborative filtering has been around for some time and will be fundamental to our music experience
* Social music is currently being brought to life as a space by Turntable.fm
* Music is going back to performing and sharing, as musicians are looking for audiences rather than unit sales
* Music used to be ‘productized’ into vinyl and CDs, but music as a product is dead
* Music as an experience, using services such as Spotify, Mogg, Last.FM, Pandora, is the right stream
* The recorded music industry has shrunk by 70% over the last decade as the music companies have refused to shift to music as experience
* While many musicians are making money from performing and ancillary products, that doesn’t suit all musicians
* Flat rate music services could be bundled into ISPs, with premium pricing for characteristics such as quality
* Shifting product sales to broader availability can create value for everyone
* The music industry is $17 billion compared to $3 trillion for media, mobile, and communications