McLeod_A_CS353 Basic Reading Response Week 6

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Wilfrid Laurier University *

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Course

353

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Marketing

Date

Jan 9, 2024

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pdf

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Uploaded by CoachOxide14180

Basic Part 1 This week, the internet and its influence and effect on the music industry were examined. The ways that music is consumed have changed since the introduction of the internet, along with its increasingly evolutionary updates. Before the internet, music was streamed on CDs, television, records, and radio. The internet brought forward platforms that are readily accessible, including iTunes and branching out to Spotify, Apple Music, Soundcloud, YouTube, and more. This allowed for a revamping of music consumption with the ability to purchase digital versions of their music easily. These streaming services are the primary source of music consumption, and if an artist is not streaming on one, their music will not reach many people. You must pay a fee to use these platforms, which is unquestionable in my culture. I used to indulge in CDs, records, and radio for listening to music. However, after going through various ways of streaming music online, I am a loyal Spotify user and pay a fee of $5 a month for their student account program. I am a huge music fan and listen to it constantly. For example, getting ready in the morning, showering, walking to class, studying, hanging out with friends, and cooking all have music playing when I am around. Although, I was unaware of the behind-the-scenes of music, especially for my favourite artists. Part 2 Moughan's article discusses the obstacles that SoundCloud faces when competing with other streaming platforms for copyright content. There are specific content licenses that SoundCloud would need to require to be compatible with other platforms like Spotify and Apple Music: performance loyalties, reproduction rights, distribution rights, artwork rights, lyric rights, and many more (Moughan). SoundCloud is used for many different streaming opportunities,

especially for smaller artists trying to promote their music online but can not through "bigger" platforms. As I am a loyal consumer of Spotify as a platform, I sympathize with those who can not use Spotify or Apple Music due to finances or technology limitations. SoundCloud is an excellent alternative to learning new music. It is user-friendly, yet it has limitations since it must censor and remove content that does not abide by its copyrights. Much music is not accessible on SoundCloud due to this. SoundCloud lacks the ability for those to find new music, something that I take part in almost every day. Knopper's article examines the music industry's current state, forecasting how royalty laws have affected streaming, downloading, and CD sales. Large record labels and artists can make money through streaming services, but less than during the CD era. Making and tracking their revenue was much easier before the internet. When selling CDs, artists would take from 12-20% of revenue (Knopper, 2011). Internet platforms like iTunes made their revenue seem more challenging to track. During the early stages, having subscriptions or accounts was uncommon; instead, you could buy a song or an album for a specific price. On a platform like Spotify, artists tend to make 19 cents for every 60 streams (Knopper, 2011). The remaining revenue goes to an artist's record label and the streaming service. Learning about this is sad because the ones who get the stream and make the music get ripped off with how much revenue they make. I am sure that the record labels are helping in ways that get them promotions and the ability to stream it, but knowing that artists do not make even %50, let alone $20, of revenue off of a stream or purchase of their music seems unfair. Luckily, independent artists are rising due to the ability to stream their music online, and the need for record labels is diminishing. For example, Macklemore, Chance the Rapper, Frank Ocean, and Joey Bada$$ are just a few that have gone big without using major record labels.

McCourt and Burkat's article provides a comprehensive analysis of the impact of the internet on the music industry and the response of major record companies, referred to as the "Big Five" (EMI, Universal, Sony, Time Warner, and BMG), to the digital revolution. The text provides a critical perspective on the impact of the internet on the music industry. It emphasizes the role of copyright, legal actions, and technological developments in shaping the industry's response to the digital revolution. Record Label companies secured their positions in the digital marketplace by taking legal actions, including Digital Rights Management (DRM) (McCourt & Burkart, 2003). DRM locks up content and protects it from unauthorized distribution. Major record companies have adapted to the internet era and will continue to play a significant role in the music business (McCourt & Burkart, 2003). Despite artists going independent and the music industry ultimately shifting its ways of streaming, record companies are likely to survive and even thrive in the digital age. The internet provides new opportunities for marketing and distribution, allowing record companies to adapt to changing consumer behaviour. With the knowledge from this article, I understand the importance of digital moderating for existing companies and artists to stay successful. This is good for people who love music like I do to keep their favourite artists afloat and to continue with the constant streaming and production of music. Major record companies have adapted to the internet era and will continue playing a significant role in music. Part 3 Several personal takeaways exist from my reading response. It provides a daily perspective of someone who is not an artist but uses streaming services and how the shift in music consumption has affected it. This shift has made music more accessible and convenient for everyone. On the other hand, looking at Moughan's article and my response can indicate the

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