Guess what: we don’t buy music any more. Nope, gone are the days that we’d go out to the store and pay US$15 for the latest album from our preferred artist. iTunes and downloadable songs pretty much killed this market. However , it turns out that something brand new has shown up that is killing iTunes and the downloadable music market: Spotify.
Why Won’t Taylor Swift Like Spotify?
In the fearless new world of streaming music you and I no longer purchase music. Rather, what we do is we subscribe to a subscription to a music streaming service. There are a number of them with titles that we all recognize now: The planet pandora, Beats, Spotify, etc . For a fee these services will allow us to inform them what kind of music we such as (Rock, Country, Soul, etc . ) and they’ll pick out music that fits our tastes and create an endless sound track for us to listen to. Clearly this has altered the product development description for music products.
This new form of music consumption has been growing just like a weed. The RIAA reports that streaming services like Spotify increased 28% in the first-half of 2014 alone and now account for 27% associated with industry revenue. However , because it is brand new, this means that all of the rules have not yet been determined and that’s why Taylor Swift is within a fight with Spotify.
So what occurred here? Simply put Taylor Swift had a brand new album come out, 1989, and she and her record company wanted to increase sales. Her record company discussed with Spotify and asked these to limit which of their customers can listen to her new music. First they wanted only paying customers of Spotify (the ones who pay to not hear any ads) to be able to listen to her music. Next, they only wanted customers in European countries where Taylor Swift is trying to build the fan base to be able to hear her new music. Spotify said no and so the lady pulled her music off of their own service.
What Should The Spotify Item Managers Do?
As a product supervisor, anytime a supplier is unable to provide you with the parts that you need, you’ve got a problem on your own hands. Clearly Taylor Swift provides a product that Spotify customers enjoy.
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With her no longer being willing to supply that product, this places Spotify and its product managers in a difficult position that’s not going to look good on the product manager resume. If they may do something, then there is a good chance that at least some of their customers might leave them for other solutions who do have Taylor Swift products.
Exactly what these product managers are going to have to understand is that what their customer’s want is music that sounds like The young taylor. If they can’t have the real point, then can they have something that seems close? This is where the power of playlists can come to the aid of Spotify’s product managers. For you see, because subscribers leave it up to Spotify to pick what the next song that they’ll listen to will be, the concept of playlists was developed. A subscriber can create a playlist based on an artist or a theme and Spotify will pick the sequence associated with music that matches that playlist.
Since Spotify can no longer provide The young taylor songs as a part of a subscriber’s playlist selections, the product managers are going to have to get creative. They’ve already started doing this. Spotify has posted playlists, “A Little Playlist Poetry for The young taylor, ” and, “What to Play Whilst Taylor’s Away, ” including tracks from Sam Hunt and Male impotence Sheeran, to help Swift’s fans deal. I would suggest that Spotify product managers should go out and find a singer who sounds just like Taylor Swift and have that performer create covers of Taylor’s songs (legally) and then substitute those songs and even new ones where they’ve had to pull Taylor’s songs. What a great opportunity for some unknown artist!
What Does All Of This Mean For You?
As product managers, we are susceptible to our product’s suppliers. If they end providing us with what we need to create our product, it is going to have a large impact on the type of product and the amount of products that we can offer to our clients. The Spotify product managers are facing a situation like this that was in no way a part of their product manager job description because recording artist Taylor Swift has decided to pull her whole catalog of songs off of the Spotify service.
What this means for the Spotify item managers is that when their clients have playlists that include Taylor Swift tunes, they won’t be able to hear what they want to hear. This means that the Spotify product supervisors are going to have to provide substitutes. It might actually open a door for these product managers to find an artist who also sounds like Taylor Swift to create songs in order to fill in the gap.