Internet breaking down barriers...My 2017 predictions

Nobody planned for this. Things were going so well in the 90's and early 2000's: musicians were selling albums at all time high levels, tv shows could only be seen on TV, and real estate agents were being paid ridiculously high commissions. So what happened? The internet challenged us to change with it and so far there are some major industries that have been left in the dust.

Industry #1: MUSIC/Entertainment

First there was Napster, then there was Limewire, Kazaa and the other peer to peer sites that allowed users to share copyrighted music putting tons of Strawberries and music stores out of business. Then there was the explosion of Youtube. Music and entertainment industry giants Viacom and Virgin Records have led the charge in making sure that change did not continue on this path, and in the 5+ years of fighting it what has been accomplished?

Nothing. Limewire continues to serve up its users free software, music, videos and documents while Youtube continually removes "copyrighted" videos but other smaller sites still deliver movies and TV shows for free. So what can be done to solve this? Follow the demand. In "efficient markets" things seem to have a way of figuring themselves out. Products become obsolete and entire industries can become extinct but will lead to new industries and opportunities.

My Prediction for the Music/Entertainment industry in 2017 is this:

Free music will finally be the norm for musicians. Viacom and Virgin will give up their stance on copyright infringement and settle for a good price with Youtube. Nobody will be willing to pay for a CD, for an Itunes song, or even for satellite radio. You will be able to download your music straight from the website of your favorite bands. Sure you'll probably be "up-sold" on buying band merchandise or upcoming concert tickets, but you won't have to spend a dime to listen to their newest stuff and download it to your phone (which is now your primary mp3 player and mobile computer).

TV will finally hit the internet on a mainstream basis. Google will have tried it first, but ultimately it will be a cable company who makes it stick. Utilizing data that the company has gathered about its customers for 25+ years, they will understand what they are looking for in television much better than Google. Not to mention, by this time Google will be the most hated company on the planet (if not sooner), and major corporations will choose to advertise on the less greedy search giants Ask.com and Yahoo! thus bankrupting Google's TV venture.

Industry #2 REAL ESTATE

In case you haven't noticed there is a sizable rift in how real estate is presented to the general public. You've got your 30+ year old MLS (multiple listing service) providing information about properties listed by agents--for agents--while leaving out vital information to the general public (and anybody who is not a paying member), you've got Craigslist--an unorganized solution to MLS's dominance, Kijiji (aka Craigslist cleaned up), Zillow--who is ahead of its time, and of course Realtor.com which serves up the MLS listings to the general public. In a world where information is easy to get and even restaurant kitchens are open to the public, you've got to wonder how long the MLS cartel will last. You've also got to wonder how long buyers and sellers will use agents if they continue to charge such high fees. The internet is the place where 80% of homebuyers find their future homes, what value would agents bring if weren't for their privileged access to MLS.

Prediction for the Real Estate industry in 2017:

More Real Estate agencies will copy the Iggys House model allowing people to list for free on MLS, thus de-valuing the service and finally leading to its demise. Buyer's agents still exist and will thrive on internet marketing. However, on the listing side, sellers will figure out a way to reach the 80% of buyers looking on the internet themselves without using a listing agent. Virtual tours will improve and online auctions will gain market share with buyers signing closing papers online and "site unseen." Our confidence in internet security will improve to a level where online closings will be the norm.

Have predictions for any other industries in 2017? Comment below or email me your article and I will post it.