I imagine we're talking about new file standards that will be promoted as hi-resolution audio, similar to the way Blu-Ray was promoted.
Apple has been promoting "Mastered for iTunes" standards to mastering studios for a while, asking for hi-res masters (96khz / 24bit .wav files). The quality of these files is noticeably better than CD (44khz / 16bit) and much, much higher than the m4a / mp3 formats they currently use. The only thing holding this back IMO is end users ability to realistically stream and store such large files. As hard drive space becomes cheaper and smaller and internet bandwidth increases further, this will undoubtedly get rolled out. I question how much the public (outside of audiophiles) will care given that most consumer playback devices sound god-awful and also because the younger generation has been consuming music that is so poor quality-wise (ie. YouTube) they are just used to it. I supposed Pono is trying to address this issue.
I think the hope is that a higher quality sound will create excitement for music again. My own personal feeling is that there is plenty of excitement for and huge consumption of music, just not reason enough to pay for it. The combination of streaming services, internet radio, satellite radio, and illegal downloading has obviously crushed the need to purchase individual releases. As a music producer this somewhat jeopardizes my livelihood as budgets for making records are drastically shrinking. For artists it means the only means to a living is extensive touring and performance royalties if they are also the songwriter. A recorded CD or digital download is pretty much just a really expensive business card for them.
I think the way out of this for the music industry is higher quality content as well as fidelity. That not to rag on 'pop' music at all, I personally enjoy a great pop song and make pop music all the time. However, the music industry spends hundreds of thousands of dollars for radio and publicity for every hit song out there and most of it is music that aimed at the tastes of 12-25 year old's who are the least likely group to purchase music. Lost of music is created that's aimed at an older, more sophisticated audience (people who likely have money to spend on music and who might feel uncomfortable stealing it) but that music is not being heavily promoted by labels so these people have to go out of their way to find it. I read an article comparing it to television where it basically sucked for a long time but people got it for free and now there are endless great television shows and people pay money to watch them. The music industry has basically gone in the reverse direction. A bit of an over-simplification but I think there is truth in it.
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