Gaming and Music: Are Streaming Services Starting to Totally Phase Out Traditional Markets?

Over the last few years, the rise in digitalisation has resulted in numerous industries becoming increasingly remote. Across all facets of the entertainment market, widescale changes have come as a result of the advancements made within easily-accessible and newly-developed streaming platforms.

As a result, we’re going to consider whether streaming services in different entertainment sectors are beginning to phase out pre-existing, traditional platforms.

Cloud and Live-Stream Gaming

While the ever-popular gaming industry continues to thrive, cloud gaming is set to take the market in a completely new direction regarding convenience and remote play. Throughout the last few years, some of the biggest developers in this entertainment field, such as Google, Microsoft and Sony, have switched their attentions to creating a more refined way of enjoying the latest games.

Concerning the necessity to own an actual console, the Google Stadia, Microsoft xCloud and PlayStation Now all eradicate the need for production and purchase of an in-house device. As each development’s broad compatibility allows for convenient gaming across the user’s existing laptop, smartphone, tablet and TV, there is no need for upgrades every four to five years. Playstation Now offers a similar service but is limited to the PlayStation 4 and compatible PCs currently.

Moreover, aside from mainstream console gaming, the iGaming market has modernised live gameplay across traditional table games and popular board games. NetBet, an online casino platform, not only offers users the chance to play blackjack, roulette and casino hold ‘em with live dealers, but also a live adaptation of Monopoly, the property game that was first released in video game format in 1989. The development of Monopoly, in particular, highlights the transition that prior gaming platforms have gone through to remain accessible within the digitalised era.

The Music Industry

From records to cassettes and CDs, the music industry has long been able to evolve to keep up with social changes. However, despite the undeniable pride that many people felt around owning an extensive album collection, the rise of streaming services like Apple Music, Spotify and YouTube Music has vastly altered traditional promotional techniques.

"Vinyl Record" (CC BY 2.0) by wuestenigel

According to statistics found by the Guardian in 2018, the average number of weekly radio listeners aged between 15 and 24 fell by around 840,000 since 2010. While streaming services are undeniably affecting the accessibility of music, they also highlight that the choice and convenience that they offer is a more attractive option than the radio station alternatives. In total, streaming platforms now account for 75 per cent of the music industry’s revenue, showing that, even though the album era was once immensely popular, the outlook of the industry has now significantly changed.

For Better or Worse, Traditions are Changing

Within the entertainment industry, convenience has become central to the approaches in both gaming and music. Even though many people have long enjoyed traditional consoles and music-orientated platforms, the ease of the newly-developed services has revolutionised both playing and listening.

Additionally, modern-day streaming services across both markets represent value for money. With PlayStation Now and Spotify Premium costing $9.99 and $12.95 respectively, avid gamers and music listeners are likely to enjoy considerable monthly savings, as they no longer need to purchase hard copies of the latest releases.

This article does not necessarily reflect the opinions of the editors or management of EconoTimes.