With over 570 million active users, Facebook is now one of the most popular websites in the world, and music is a huge part of that popularity. In fact, music-related pages are about a third of the top 20 pages on the site (source: Inside Facebook) and are the fourth most likely to be “liked” (source: HubSpot),
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The video game industry is excellent example of an evolving industry with a successful history of quickly adapting to new consumer trends and behaviors in order to constantly realize new revenue opportunities. Similarly, the music industry has been greatly impacted by evolving consumer habits, and as we move away from the historic business model of selling a physical format, we can leverage several valuable lessons offered by the video game industry example.