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The Internet has had a profound impact in many areas of life but one of the earliest and greatest of the cultural (and business) impacts has been on the music industry (DiMaggio et al, 2001) both positive and negative. This is an important issue because the growth of the Internet and faster Internet connections has been accompanied by an increase in downloading and filesharing. Once a file is in digital form and on the Internet, it can easily end up anywhere in the world. This is the negative impact, and one of the worst affected industries of this problem has been the music industry (Peitz & Waelbroeck, 2005). The Internet has been both a blessing as a great distribution channel, especially for budding artists, but at the same time, it has posed serious problems because money is not flowing into the music industry as it used to. The situation has therefore spawned efforts for greater digital rights management (Hilts, 2003). The major companies in the music industry are Universal, Warner, EMI, BMG, and Sony, and they are all concerned for their very existence.
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However, in the 21st century, the emergence and growth of digitalisation, data compression and the Internet have led to a major disruption in the recorded-music industry’s value chain and business models. The growth of digital music has seen the recording industry’s revenue streams continue to sink to date largely because of the ease of compression and distribution of digital music illegally over the Internet.
According to the paper the impact brought to music production as a result of technological advancements has continually changed the way that artists and music producers relate in the field of music production. This is as shown by the way that the present forms of music differ from the earlier arrangements. The most diversified aspect is that in the production, as it is from the production line that music is derived.
In another sense, piracy is an illegal activity where the creativeness and hard work of people are exploited for the mean benefit of some sect of people who have selfish motive to earn money. So, the SOPA and PIPA legislations have been introduced to eradicate the problem of piracy on the internetby the government.
The following paper will examine the influence of file sharing and illegal downloads in order to discuss the impact it has had on the music industry. In examining the issue, it is clear that illegal downloading of music has contributed to the current downward spiral of the music industry, systematically destroying it in its current construction but leading to a new framework for the dissemination of musical experiences into the social world.
This essay describes how digital era affected music industry. 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. The record music industry’s total revenue declined from $8 billion in 2012 from $18 billion in 2000.
In other words, traditional marketing involves the promotion of products through print, or word of mouth (Geld 2003). But with the internet revolution and as the technologies in the internet continue its development, marketing strategies have also changed.
Next, it will tackle the trends in the industry along with the current technologies affecting it. It will then present the changes within the industry ushered by technological advancements and analyze the economic implications of these changes. It will conclude with a summary of its findings and recommendations.
The Recording Industry Association of America was created in the early 50s and was similar to the radio industry group that governed the use of airwaves by radio distributors who were once thought to be distributing music free of cost much like the internet is thought of today.
The use of technology as well as available resources is providing more opportunities for those that are interested in the field of music. Two of the leading trends that are providing a different level of professionalism to the music industry are from live music promoters and recording studios.
12 Pages(3000 words)Essay
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