Turntable.fm has brought social into digital music, bringing the entire music-listening experience back to its roots. "It [music] was always a social experience," said Seth Goldstein, co-founder and Chairman of the popular music service, Turntable.fm. Then came the advent of Walkmans, MP3 players, and iPods. Pretty soon, people were enjoying music on their own. Turntable.fm brings us back to the social aspects of enjoying music.
In this interview, Goldstein shares his views on the evolution of digital music as well as his thoughts on music consumption, given the decline in the amount of money consumers are willing to pay for music. CNN calls the last decade a lost one with regards to music sales as U.S. music sales were $6.3 billion in 2010, down from nearly $15 billion in 199. In a Forrester Research study released last November, about 40% of consumers reported spending less money on music, or under $20 on music in the past year.
These stats don't deter Seth, however, as he believes revenue from music comes in different forms other than music sales.
(Note: See below for previous interviews with Goldstein.)