This work describes that sales of physical CDs have declined to half of what they approximately were in 2000 with sales of digital music on the internet unable to cover for this particular decline. Revenue fell by 6.2% in 2010 and music piracy was made worse by poor economic conditions…
Download file to see previous pages...
Warner Music Group captures 27% of market share, which makes it the 2nd largest in the world. Sony Music Entertainment captures 14% of the world market share after it formed Sony/BMG following a merger with Bertelsmann, which was later dissolved in 2008 with Sony now operating as Sony Corporation’s subsidiary. EMI, which is based in the UK, has a 5% market share and is the smallest of the major record labels. While these four record labels dominate the music industry, there are independent companies that require mention. These companies include Koch, EDC, Zomba, Edel Music, and Bad Boy Entertainment (Morton & Koufteros, 2008: p502). Nature of Problem Over the last decade, the recorded music industry has been shrinking. Although it has been shrinking, consumption of music is higher than it was ten years ago, especially led by technological advances and new models of business. Every major record label has reported losses on a consistent basis over the last decade and, unless there is a radical action, the trend is unlikely to stop (Altschuller & Benbunan-Fich, 2009: p52). Sales of physical CDs have declined to half of what they approximately were in 2000 with sales of digital music on the internet unable to cover for this particular decline. Revenue fell by 6.2% in 2010 as digital music sales expanded physical CD sales fell, and music piracy on the internet was made worse by consumer sentiment and poor economic conditions. Since the late 90s and early 2000s, technology has had a major effect on most industries. Illegal file sharing and the advent of MP3 technologies has had a negative effect on their revenues and is now regarded the beginning of the music industry’s decline (Altschuller & Benbunan-Fich,...
This "The Music Industry and Copyright Issue in The Digital Phase" essay outlines how the Internet has changed music business. New services that were earlier unavailable to the consumer because of technological limitations have now become viable revenue streams, although they are not viable. The new products and services created for the music consumer include mobile services, streaming services, subscription services, and digital downloads (Mertens, 2010: p665). Digital downloads have accounted for approximately 50% since 2010, of total music sales, which is representative of more than 60% of the total business on the digital platform. Currently, iTunes is the major player in this market, which accounts for approximately 70% of worldwide sales of digital distribution. At a price of $0.99 compared to $13 for physical sales, this has had a negative impact on revenues. Subscription services give the music consumer the option of getting as much music as they want during purchase. The music consumer will pay the service provider a fee in exchange for the ability to listen, as well as download the number of tracks they wish. However, this model is disadvantageous to the consumer since; even though, they pay a fee for this music they do not have ownership of the music once the subscription expires (Mertens, 2010: p665). Major players in this sector include Rhapsody and Napster. Streaming services, while offering the consumer the ability to listen to the music they want drastically reduces the revenues of the music companies.
...Download file to see next pagesRead More
Cite this document
(“The Music Industry and Copyright Issue in The Digital Phase Essay”, n.d.)
Retrieved from https://studentshare.org/music/1473073-the-music-industry-and-copyright-issue-in-the-digital-phase
(The Music Industry and Copyright Issue in The Digital Phase Essay)
“The Music Industry and Copyright Issue in The Digital Phase Essay”, n.d. https://studentshare.org/music/1473073-the-music-industry-and-copyright-issue-in-the-digital-phase.
The pirates have always been capable of gaining advantage from others’ imaginations. Nowadays, the internet and other innovative communication technologies have made digital piracy a serious international issue. According to U.S. copyright agency, digital piracy can result in loss of billions of Dollars along with loss of significant amount of employment.
The Constitution gives Congress the power “to promote the Progress of Science and useful Arts, by securing for limited Times to Authors and Inventors the exclusive Right to their respective Writings and Discoveries” (Ratner). Since then, copyright rules and regulation have evolved to catch up with technological changes (Picker).
EMI was one of the ‘big four’ record companies and currently it is the fourth largest business group in the recording industry (ibid). The EMI operates a major publishing subsidiary called EMI Music Publishing, which has branches worldwide.
It is evident that the recorded music sales are in steep decline and rising digital sales are offsetting in part the physical market decline, which could potentially offset part of the physical market by the end of this year, with analysts estimating the figure to be around $23 billion (Enders Analysis Report, 2008).
One main contention is that the use of a sampling of previously composed music be permissible in the creation of new music. However, present copyright laws make this illegal. In the mid- to late 1980s, hip-hop artists had a very small window of opportunity to run wild with the newly emerging sampling technologies before the record labels and lawyers started paying attention.
In the boundless ocean of the digital culture, everything should appear as a blessing. In the music industry, however, the digital age has been seen as a mixed blessing. Because of piracy or MP3's, whichever name we give to the mixed blessing of the digital economy as it concerns the music industry, the digital economy is presently not in a state to flourish as much as possible even if the steadily rising numerical figures related to the growth of electronic commerce tell us another tale.
EREAS on or about the (appropriate date) the members agreed to form a musical group named FROZEN FOXES (hereinafter called the Group) for the purpose of carrying on business together as musicians for their mutual benefit and by this Agreement they wish to establish the terms
The scale is massive that the music industry is pressured to adopt anti-piracy technologies since billion of dollars in profit are lost every year due to piracy. An example of which is Sony’s key2 audio
A person reproduces copies of the digital contents under his or her own names instead of the names original owner (Campidoglio, Frattolillo & Landolfi 2009, p. 526). The end client therefore considers the products as original and genuine.
There is a
2 Pages(500 words)Essay
GOT A TRICKY QUESTION? RECEIVE AN ANSWER FROM STUDENTS LIKE YOU!
Let us find you another Essay on topic The Music Industry and Copyright Issue in The Digital Phase for FREE!