Disadvantages Of The Middleman Economy

Together consumers and buyers of the trade have extra options through authorization from mobile and online channels that create more options to purchase, get and give suggestions, and converse back with the companies.

Intermediaries add value by solving market separations or gaps, helping to make markets between buyers and sellers.

Although Taylor has provided powerful statistics and moving personal interviews to support her argument that the digital economy has hurt modern day artists more than benefitted them, she neglects the benefits that these platforms do accumulate for the artists, drowning it out instead with information that strategically distracts from the main objective of the platform. She also lacks a multidimensional perspective on the consumer whom this inevitably does affect.

Perhaps most importantly, the Internet offers a new way of doing business. A virtual market-place where customers can, at the push of a button, select goods, place an order and pay using a secure electronic transaction.

The sharing economy has its perks however also its inconveniences. Mary Dejevsky is the writer of “Uber and the “sharing economy” are leaps into the past, not the future”, and in the text she speaks on the downside of the sharing economy. “There are questions, too, about quality of life and fairness. What recourse do you have if you are a tenant or home-owner disturbed by anti-social short-stayers? If you are a neighbor woken by driveway customers slamming their doors at 6am? If pollution is increased by the many more cars plying for hire? If wages are further depressed by casualization?”, Dejevsky lists various of problems that people face or could face now that sharing economy is becoming a global thing. All the things she mentions are pretty

In 1999, three young men who were passionate about computer programming created a website that would bring an entire industry to its knees. As the three boys, Shawn Fanning, John Fanning, and Sean Fanning, worked hard on their project, they could’ve never imagined that their invention, a peer to peer music file sharing service called, Napster, would effectively revolutionize the way an entire generation created, delivered, and received its entertainment. Since then, the internet, file sharing, and the music industry has changed drastically. Since Napster’s invention in 1999 we’ve had millions of different similar services come about such as iTunes, Rhapsody. Roxio, YouTube, Spotify and NoiseTrade. Napster’s creation and then subsequent demise in 2002, sparked a controversy that still exists today, the effects of music downloading on music industry revenue.

In text 2 “Learning the wonders of the sharing economy in trip to Denver” (2014) by Catharine Hamm, Hamm talks about, how the sharing economy has made her whole experience to Denver, and how impressed she is by the fact that the business is build on trust, as she says “And I didn’t get ripped off - or worse - by anyone. Which may be the most surprising

As a Independent label Executive; I am in a constant game of playing the sheep in a padded room surrounded by Elephants. I prepare for the abuse of being trampled upon, but hope that my coyness will somehow make me invisible. I for one can honestly say that I receive thousands of phone calls during a typical week from independent label owners and execs with the same sentiments. "How can I avoid being Robbed", I ponder? I understand the position of the Majors and furthermore realize that the consumers are no longer standing in lines at Sam Goody 's to purchase that ten dollar cd. I never thought that Wally World would become the Nation 's leading retailer of physical music content, but I never thought we would be able to carry a phone call everywhere we go neither! Go Figure! However; help is on the way - the timer goes off on the oven and out pops Apple Music! Yes, are you surprised? The Guys from Silicon Valley seem to have genetically engineered a way to provide a platform for independent label owners and artist alike. The million dollar question is how will this shape the landscape of the Industry? To better understand this, one must first realize that the music industry has circum to the same ideology and generational period that most dynasties travel....

In “The Music Industry Has Been Revolutionized,” Greg Kot explains musicians in the music industry are experiencing unwanted change around the world from technology since the popularity of file-sharing websites available online. Consumers of music don’t want to pay for music because of the increased availability, although not doing so prevents revenue for musicians. Explained in Kot’s article, increased popularity of file-sharing has made access to music so convenient to the point where the music industry is confused about how to respond to the lack of revenue while still keeping music readily available for consumer use. New technology has allowed the music industry more opportunities in being efficient with producing music. Furthermore, it

In 2000 the digital music was the next big thing in how consumers listen to music. The technological shift in music changed how the relationship is between the artists, recording companies, promoters and music stores on how they operate today. In the late 90’s and early 2000’s Peer-to-peer (P2P) networks allowed free exchange of music files with companies like Napster and Kazaa was a big step that allowed consumers to store large libraries of music. With the cost of hard drive space going down; it allowed for pocket-sized computers to store more information in a smaller space that open the door for apple to step in with the unveiling of the iPod and iTunes. These systems made it possible for storage and playback that gave consumers the

The music industry has changed in very quickly in so many ways it almost seems impossible. Thomas Edison recorded the first voice in 1877 and now we listen to hundreds of different types of music on devices that hold more information than the computers that sent the first astronaut to the moon. People have been getting music in tons of ways for the past hundred plus years and when the internet came into the picture, the music industry sky rocketed. People could get their own music out and be heard just by clicking a few measly buttons and using the internet to stream millions of songs with high speed. But even though the internet has helped the music industry by making it easier to distribute, advertise, and produce music, it still has its disadvantages.

Since the iTunes music store was introduced on April 28, 2003, gross music sales have plummeted in the United States - from $11.8 billion in 2003 to $7.1 billion in 2012, according to the Recording Industry Association of America (Covert). Counterintuitively, during that time consumers were buying more music than ever. How is that possible? It 's because iTunes had made digital singles popular and was selling them cheap. This would change the music industry forever. In 2000, Americans bought 943 million CD albums (Covert), and digital sales didn’t even make a dent in comparison. But by 2007, those inexpensive singles overtook CDs by a wide margin, generating 819 million sales compared to just 500 million for the CD.

Over the past decade, the use of CDs has been replaced with online streaming and retailing. This has eliminated much of the record companies revenues as they were used to making most of their profit off of distribution and promotion of physical copies of artists albums (Niemen). This has caused for a major shift and remodeling of major players in the music industries business models. Companies such Sony, Warner Music Group and Universal Music Group have started to completely rethink the way they conduct business (Forbes). In the past record labels were not only responsible for production, distribution and promotion of an artist and his/her music, but they also acted as a bank (Forbes), funding the artists tours and recording sessions. Recently, these music giants have been moving towards becoming more of a modular network organization. What this means is that they are less occupied with the nitty gritty, and more focused on what they do best which is distribution and promotion. This also allows for more freedom of creativity for the artist as well as fairer split of profits (Forbes). This adaption of new business models clearly shows the versatility of the music industry in adapting to new times and technologies.

Digitalization, data compression, and the internet have affected the music industry significantly. These technologies have shifted the recording industries from hard-copy recordings to digital music distribution. This has made it easier for consumers to enter the music market through copying. Consumers have access to copying technology that allows them to obtain music without paying the record label. The situations clipped high in 1999 when Napster, a file-sharing service was launched. The service facilitated music file sharing on a wider scale. The consumers just download the music and transfer it to a digital music device. This has negatively affected the trade value of music sales, for instance in

Also, as the purchasing power of the common has risen in various markets across the global, the purchasing of luxury products have gone up. For examples, the iPhone, iPod, iPad and the most latest technology, iWatch. Having these products are considered as statues symbols in many societies which have also increased the sales of Apple Inc. products. Another big social influence to the Apple Inc products is the rapid growth of the music industry, which have improved markets over the cyber space as well. The main exclusive music store is the iTunes and it is ahead of any of their competitors. Thus, in all Apple products benefitted from the social aspects as it has started defining a modern individual lifestyle.