The industry has shifted from one where the supplier groups held all the power to an industry where the buyer groups now hold most of the power. ("The Evolution of The Music Industry," 2014) Within the Music industry there are content creators (artists), the distributors (suppliers), the promoters, the sellers, and the consumers. The internet has reduced barriers to new comers to the industry, by making it easier and more accessible to get their product to the consumers and costing less to do so, but in the same way it has done this it has also affected the economies of scale for the sale of CD’s and Music Videos.
An industry of once physical mass production, reliant on radio stations to play the latest tunes, and with only a few large players – recording companies, is now one of digitalisation - digital copies of music, available on the internet from the likes of i-tunes , spotify and many more, at the click of a finger – and accessible around the world anywhere virtually instantaneously – The bargaining power of the consumer has changed from low to high, the buyers of today can access music from a wide range of different suppliers and sources, and change from supplier to supplier without any cost or inconvenience, and without getting out of there seat. Because there is a wide variety of music choices, and easy accessibility, major labels ...
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... can’t get enough of America - especially the Asian market – this previously untapped market couldn’t have been as successfully reached without globalisation. (Hamelink, 2014) And when you think of the NZ music industry, globalisation has a huge part to play in the success of recent artists like Lorde who 10 to 20 years ago would have found it considerably hard to reach the US and European market place, enabling them to become successful.
Digitalisation has also improved the quality of voice, sound and video transmission, offering high quality, faster and reliably - through electronic highways around the world. (Hamelink, 2014) The digitalisation of the music industry has enabled it to reach large audiences, cheaply and quickly and more dynamically – raising opportunities for record companies and artists who’s world has become almost entirely digital. (Hinde, 2014)
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