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The review panel in charge of setting rates for songwriter's royalties reportedly issued the biggest rate increase for artists in its history over the weekend - a 40 per cent hike. For the music streaming industry, which runs on thin margins, this could be an issue. For Spotify, a price increase for users could be inevitable, but the company has yet to respond to the news.

Predicting the future is near impossible -- but that doesn‘t stop us all from having a red hot go. Human beings have been predicting the future since the beginning of history and the results range from the hilarious to the downright uncanny.

One thing all future predictions have in common: they‘re rooted in our current understanding of how the world works. It‘s difficult to escape that mindset. We have no idea how technology will evolve, so our ideas are connected to the technology of today.

The review panel in charge of setting rates for songwriter's royalties reportedly issued the biggest rate increase for artists in its history over the weekend - a 40 per cent hike. For the music streaming industry, which runs on thin margins, this could be an issue. For Spotify, a price increase for users could be inevitable, but the company has yet to respond to the news.