The music industry could be missing out on a big pay day by failing to invest in marketing a new high-quality, consumer-friendly digital format, according to audio experts.
Speaking at a debate hosted by Universal at Abbey Road Studios, a panel made up of technophiles such as Abbey Road engineer Jonathan Allen, Dolby’s Jonathan Jowitt and producer Ben Hillier agreed that it's time for labels and services to be brave and market a new format.
Recent research has showed a surge in young people listening to music on mobile devices – and a projected leap in revenues for HQ audio hardware manufacturers.
The rise of brands such as Beats - who created a UK headphones market that was worth £150m in 2011 with a product that is sold on the promise of audio quality, suggest that there is a market for high quality audio.
Do you think it's time the music industry invested in a new high-quality, consumer friendly digital format? Or has the moment passed? Answer our poll and comment below…