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how piracy affects the music industry
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The music business entered a dramatic change in the 21st century. These changes appear in the way of how people access and consume music. According to Hull, Hutchison and Strasser (2011) the music business has developed throughout three stages. While moving from the agricultural age, where the music business made its revenues through live performances, troubadours and patronage, the industrial age introduced new innovations that were assumed to be associated with long-term economic growth. Commencing the year 1950 sound recordings experienced a drastic raise in sales by an average of 20% a year (Krasilovsky and Shemel, 2007). While the music industry was dominated by six major record lables (Time Warner, Disney, Vivendi Universal, Viacom, Bertelsmann, and News Corp.) (Hull, Hutchison and Strasser, 2011), further growth in the industry has been recorded in the 1970’s, where record sales “rose from less than $2 billion at the beginning of the decade to over $4 billion in 1978”, which took a sharp turn entering the Depression around the middle of the 20th century (Krasilovsky and Shemel, 2007:5). With the invention of the Compact Disc (CD) in 1984 the music industry was able to increase their record revenues again surpassing $4 billion. According to the Recording Industry Association of America (RIAA), profits in 1988 increased up to $6.25 billion (Krasilovsky and Shemel, 2007). On one hand CD’s have proved to be very successful invention as it indicated that consumers are willing to pay for increased quality of goods and services. However on the other hand it had introduced issues relating piracy. Illegal reproduction of analog phonograph records was a relative harmless issue at this time, as the quality of sound would reduce by ea... ... middle of paper ... ... well as a time trend dummy, which equals 1. The theorists found evidence to support their aforementioned study claiming “the structural change in the demand for recorded music” (Stevans and Session, 2004:316). The time series model shows a decrease from 2.25% to 0.77% in regards to the growth rate on how the buyer consumes recorded music presumably taking the increase of distribution means and all other factors in consideration. With this model Stevans and Session proved the link between music downloads and the decreasing demand for CD sales after 2000 and they also predict that copyright laws potentially has an impact on reducing price elasticity of demand, which forces digital distributors to lower prices. Consumers would then be able to benefit “not only from price stability, but also an enhanced market for all music formats” (Stevans and Session, 2004: 322).
The music industry can trace its roots to the 18th century when classical composers such as Wolfgang Amadeus Mozart sought commissions from the church or aristocracies by touring to promote their music (Boerner). By the early 20th century, recorded collections of songs were available for purchase for home listening. Towards the middle of the century, record album production had become the norm for getting new music to the masses and album sales had replaced sheet-music sales as a measure of popularity, with the first gold-recor...
An “analyst” was quoted in the case (in 2002) as saying that “people will pay for music on the Internet, eventually.” This person was skeptical of the willingness of consumers to pay for
... released in January that surveyed 1,358 Internet users in late fall found the number of Americans downloading music dropped by half from six months earlier, with 17 million fewer people doing it nationwide. I find that to be an impressive figure.
The music industry is about selling the recordings and the performances of music among many individuals and organizations that works with musicians. The music industry has both the charm and the organizational architecture to affect the business and the cultural trends. There are millions of listeners and followers to the products of the music industry. The opinions of these listeners always change depending on what they see or hear. The music business or industries have been influencing generations of recording artists, business professionals and consumers. The music industries have been reinforcing questionable subject matter, music lyrics and business and social norms.
The Internet has cut into the music industry's profits. It reduced the demand for CDs, increased the interest in singles and let people decide whether they want to pay for the new Prince album. This alone could be offset if all of the people pirating music would go to their favorite artists' shows. However, the hard economy has rapidly cut into people's ability to spend on luxury items and concerts rank right up there with sports in terms of practicality.
Pfanner, Eric. "Music Industry Sales Rise, and Digital Revenue Gets the Credit." Business Day Technology. The Nre York Times, 26 Feb 2013. Web. 21 Mar 2014.
The production and consumption of music has become a market of its own that has been growing and getting stronger every single day. Many companies have found their fortune in the music industry and have become part of the globalization by entering the worldwide market and economy.
The music industry has changed in more ways than we could imagine. At first we started with artists just selling singles, then it transformed over to people buying albums, and forn then on iTunes started to sell songs for just cents. In the year 2005, Pandora was launched on the Internet and later they created a mobile app. Most of the artist’s music can be found on YouTube. Free downloads has affected this industry as well. The music industry has found many ways to let the fans listen to the music they love. Internet streaming radios like Pandora are having to pay artist for copyright reasons. The music industry had two significant changes in the 21st century: the physical albums have dropped but streaming music has increased, even though artist get little to nothing in return.
Our first step in uncovering the problem which Sony must focus on was to gain background information on Sony Music Entertainment and the current music industry as a whole. Through a search of current events and press releases we discovered that one of Sony Music Entertainment’s main goals is to “transform its business to include significant and growing digital sales”, as stated in the most current financial report (Sony Corporation, 2009). We found this problem important to Sony as the company does focus large efforts on being at the forefront of technology and being viewed as an innovator. If Sony were to fall behind on the emerging industry trend of digital distribution, their foothold as an entertainment industry giant and innovator may be jeopardized.
The music career I choose is music producer because I like producing music and producing music is fun when you get used to it. A music producer writes, arranges, and records songs. When they are shaping the music of another person’s album or created beat. Some music producer find themselves doing double or triple work as a studio owner and a sound engineer. Music producers work with recording artist, recording engineer’s session singers, and musicians among others. They have a lot of ear and mental breaks because the work 10-12 hours a day music producers are for ever on their phones or laptops because some want a producer some want the producer to make a beat. They are always busy
One of the newest, most exciting and innovative ways to get music these days is not in the mall and not at a huge mega-sized electronic store, it's not even by a mail order CD club. It’s the computer. It sits conveniently on a desk and now allows access to every imaginable genre of music, twenty-four hours a day, rain or shine, snow or sleet, in the comfort of your own home. Technology is changing the way we listen to music. Now downloading a Mp3 from the Internet is a lot easier than going to the store and buying an overpriced CD. A near CD quality digital recording of music, Mp3s are digital computer files compressed to make them readily available over the Internet. It seems the high prices, new technology, and availability are causing most music lovers to turn to this new form of music media to combat their expensive addiction to compact discs. It has become so simple to search out and download music that more and more people are finding it favorable to just copy their music to a recordable CD (CD-R). That would mean people could, from their own home, create illegal copies of the copyrighted material at or near industrial compact disc quality. Further adding to consumer accessibility, manufacturers now produce portable MP3 players , so now the need to buy CD-R’s is eliminated and you can just...
Technology has changed the music industry in the past years.The music has had the opportunity to expand distribution to the world and fans of music. But when downloading became reality the music industry tried to fight against the change. Then they attempted to keep control of the music industry and keep it the same also while keeping a high profit for selling, but eventually this backfired. What the music industry had planned was not what they wanted but instead they got the opposite of what they wanted. Also technology has changed by online downloading. Since online downloading has been used or introduced the selling of actual CD’s has decreased. People have found online downloading cheaper so they found no need to buy CD’s. Plus people have also found online downloading much easier so they don't need to waste their time going out and looking for the CD they want then can’t seem to fi...
One important change that has occurred is the distribution of music digitally. Music now in our society is purchased through the Internet. The simplicity of having an entire library of music on one device has been adopted versus having stacks of CD’s or tapes. The emergence of the Mp3 file has changed how we listen to music. Mp3 are digital songs that are portable, provide high quality sound, and are less expensive. Essentially by eliminating middlemen, digital music took control of music away from the major record companies and put the power in the listener’s hands. Major companies such as Apple’s iTunes created the distribution of digital music. CNNMoney mentions, “iTunes is currently responsible for 63% of all digital music sales” (CNNMoney). They set the standard of 99 cents for a single song, which was quickly adopted by major music companies. Selling songs by singles provided more control ...
Music piracy is a developing problem that it affects the music industry in many different ways including being responsible for the unemployment of 750,000 workers, as well as a loss of $2,5 billion; therefore, I want to explore ‘To what extent has music piracy affected the music industry market in the United States over the last 10 years?’
Music currently defined as popular music or pop, evolved in the American society many decades ago. Popular music is a wide-ranging combination of many different styles of music such as jazz, country, rock and roll, rap, and even hip-hop. In today’s society, people perceive pop music as cool, pleasant-sounding, and a type music that has the means of changing the American way of life. This unique type of music has played a significant role in shaping our lives. More importantly, it has brought together people of different ages, diverse ethnic backgrounds, and has transformed our culture and others for the better. Thus, it is fair to say, pop music resonates throughout the world, touching people and societies in ways that is baffling to politicians and government leaders. For this reason, popular music has helped make the industry a multi-billion dollar a year business. This highly lucrative business reflects lucidly in all forms of today’s media including film, television, the internet, etc.