While music must be heard but the joy of owning a record album is unparallel. And even though the CD, LP, and tape market are decreasing due to the immense opportunities offered by digitalization, there still exist millions of fans who love to own a good old record. Statistics proof this. The global music market is pegged at $15.8 billion and the physical music is still worth $8 billion which is 50% of the overall music industry.
Physical media for digital content
Korean startup Muzlive releases a smart music album played on smart devices. Music fans can not only enjoy the possession value of a physical music album but also use music, photos and video of the artist by the digital smart platform with Smart Music Album. Physical music media provided by Muzlive called KiT are operated on smartphones or other smart devices and can collect and analyze record use data through online linked service. This can give the music company or artist a detailed idea of where and which segment does their customers come from, and data on their age, gender, language and device used.
Over 90 popular K-pop titles and 1,000,000 copies have been released with KiT and all sold out from global customers.
Expansion plans
The company plans to expand its market to Japan, China and the US and is aiming to increase its sales 20 times as compared to 2017. It plans to expand by launching KiT Albums of global artists and providing a KiT-use data platform. KiT sales are counted as regular album sales on Gaon and Hanteo charts. The company ultimately hopes to become a multi-music platform and offer music lovers an option to continue listening to their favorite music!
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