The music industry is in the middle of something exciting, as the entire model continues to change each and every day. To celebrate the next big thing, Fast Company has compiled their list of ten most innovative companies in music. Some of the list might surprise you, but longtime heavyweights like Spotify and YouTube come through in the second and third spots respectively. But the biggest winner is Rap Genius, who tops the list with their lyric explanation site, that seems to be expanding into poetry, legal rulings and more.
But as the music industry continues to shift towards streaming and other modes of consumption, does someone like Spotify, who doesn’t seem to be compensation artists properly, stand a chance to next year’s innovators? Only time will tell, but this is certainly a major talking point moving forward. Oh, and Fast Company left off perhaps the most innovative company of all in Next Big Sound. These guys might just revolutionize the position of A&R, as they look to quantify digital trends in music. Let us know what you think about the list in the comments section below. [via]
1. Rap Genius
4. Pulse Films
5. Merlin Network
6. Moment Factory