At the same time, Britney Spears' single “Hold It Against Me” scaled the digital song chart with 411,000 copies sold. The two charts illustrate the change in the way we listen to music. The Internet—as it did for almost everything—has radically affected the way people get music. 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.
Introduction: In the past, music has been a costly business, where only people with a lot of money could enter and be successful in the industry. Changes in the music industry coupled with new computer technology have made it much easier for people without a lot of money to compose, produce, and distribute their creation. In order to get a better understanding of the music industry in comparison to 2014, one has to look at its history. There were many things that happened from the 1980’s onward, and they brought on a significant impact towards the music industry. Development in computer technology has also made a big impression on music.
But which one is the real cause? Everyone knows that sharing/downloading music off the internet is “unethical” and that there are potential risks involved - but as Americans, it’s difficult to not take advantage of a free thing and that is why we haven’t stopped downloading over 20 billion songs per year. The music sharing phenomenon took off in the late nineties, as the internet was becoming increasingly popular, and a peer-to-peer file sharing network called Napster debuted online and helped jumpstart... ... middle of paper ... ...ing options. All these theories have somewhat contributed to the steady fall in album sales -2007 has seen some of the lowest sales in history and there seems to be no end in sight. As vinyl records lost popularity in nineties, physical CD’s are losing popularity now - which brings up one more question, what’s next?
Ever since the launch of the Apple iPod in the mid-2000s, the music industry has been fighting the digital scene for revenue through music. In this age of file-sharing, it is extremely difficult for record labels to profit off of music, which, in turn, makes it difficult for artists to make money off of music. Or does it? The state of the music industry today is indicative of a transition that is taking place within it. Before the mid-2000s, music was in a very commercial state.
This has been caused by music piracy, which “is the copying and distributing of copies of a piece of music for which the composer, recording artist, or copyright-holding record company did not give consent” . After 1980’s, when the Internet was released to public, people started to develop programs and websites in which they could share music, videos, and information with... ... middle of paper ... ...n the companies will have to decrease the price otherwise the product will not be sold at higher prices and the revenue would not be as large as companies would like to. The industry basically works by selling and buying; however, if the sales decrease there is a huge impact in the economic growth of the firms. There are many factors, which can affect the growth of the firm. The factors that affect the firm do not have a great impact in their growth; nevertheless, a factor that has recently surged is the music piracy, and it has become a negative externality.
Piracy in the music and film is an ever-growing issue that people who choose to join the industries must live with and adapt to as technology and times change. The issue with piracy is not as cut and dry as people perceive. There are many people who lose serious cash from illegal downloading and streaming; on the other hand, there are those whose entire careers have been made from free streaming or downloading and would not be where they are today if it weren’t for piracy. I had the chance to have an amazing interview with Darryl Ohrt, a former singer of a punk rock band who worked in the music business for 10 years, after ran a digital agency that did work with music labels like SONY; who has also worked with a few bands in terms of promotion
Keeping up with news about the music industry, one is able to notice that the music industry is changing at a fast pace, but it is not easy to get an exact answer to the question of why this change is happening. Rappers are put in a unique position in the music business. They are put in a position of being outsmarted by many people at record labels who are experts on running record labels. Fans of music who analyze what goes on inside record labels hear endless amounts of stories about how rappers end up signing contracts where they are put in a position to lose. If rappers were exposed to the science of contracts, they would be able to agree to a contract that would put them in a position of winning in the evolving business of
Music was very successful back in the past but now is being loss by music piracy. Artists dealing with people copying or stealing their creation without them approving of it. They also distribute the music and make money off of something that they never created themselves. Internet piracy has been a cause of a lot of argument. It’s grown and become the new thing of communicating in our generation.
A waste of time, space, and money, buying CDs is simply obsolete. When my brother started getting whole discographies, and albums that haven’t even hit the market yet, I was in disbelief. Now, the idea of spending fifty dollars on the “Nirvan... ... middle of paper ... ... be known. With online downloads, more people can be exposed to their music and the band can reach a wider audience and have greater potential to be successful. So, next time you hear “Friday” by Rebecca Black and feel inclined to purchase her CD, remember that there are more plausible ways to get the music you desire, and that flimsy piece of plastic that you spent 9.99 on will only be sitting on your shelf for years to come.
Illegal music downloading has helped several artists get looked at by big corporations. A lot of artists’ career have been sky rocketed by illegal sites. Additionally, Illegal music sites help artists succeed. In the article entitled, “How can Your Band Benefit from Piracy?” the writer says, “Some bands are finding ways to use free music, illegal downloading and so called “piracy” to grow their audience” (1). With a growing audience, bands can now book more shows to perform.