Radiohead

With the fast rising technology and the closer world community, the music industry has changed dramatically in this modern world. In this case, I will choose an American rock band Paramore as a case study. I will first start with an overview and a brief history of the band, afterwards I will focus on the main four music business areas, which are Artist Management, Record Companies, Music Publishing and Live Performance, examining how they operate in the industry and their relationship between each area and with the band. Finally, I will finish up with a conclusion and my own views.

When wanting to listen to a song today, one no longer has to buy or download a physical copy. In today’s world, streaming has become one of the top ways of retrieving music content. This major change has led to a profound shift for the music industry and its artists. It has developed a continuous conflict that affects the way music is distributed and how artists make a living. Listeners stream music electronically through their computers, phones, cars, and more. Most of these streaming platforms allow for the content to be free, which directs to the question of whether music should be free or not. Streaming is a topic that has presented itself to be a valid issue on whether it ultimately hurts or helps artists and their careers. Streaming has both pros and cons, but in order to aim to figure a possible solution there needs to an examination of the history of the issue, a proper analysis of both sides, and evaluating its importance.

Social media has had a profound effect on the likability of certain genres and the artists that create music in those genres. The way in which we discover music today has drastically changed. Prior to the existence and popularity of social media, listeners listened to and discovered new music through the radio, album purchases, or from word of mouth. Music lovers today are discovering their music through social media, from small music blogs to online streaming sites. Various entertainment companies around the world have begun to rely on social media marketing; a marketing style in which companies use various social media

NAME OF ARTIST SELECTED The artist selected is Stevin Ryan and his genre of music is a mix of hip hop and alternative rock. The artist’s music focuses on relationships, parties, life of today’s youth, and hustling (to do anything you need to do to make money). The listener can often relate to the topics and will be able to find a song that fit their moods whether it is happy or sad, upbeat or pessimistic. The lyrics of the song can appear to be sexual and raunchy or hopeful or tell some kind of story.

3-4). While these statistics provide a look into the numerical growth of the streaming industry, it is also important to discuss the power that these streaming services have generated—over both the music industry and over established/aspiring artists. Subscriptions are on the rise, having increased significantly over the past ten years, but as is the amount of users streaming music on a free-trial or ad-supported basis—ultimately undercutting the music industry and artists alike. Blewett and Gollogly (2017) elaborate on this point, stating that, by the end of 2016, paid music streaming subscriptions drove a revenue growth of 60.4%—this growth more than offsetting a “20.5% decline in downloads” and a “7.6% decline in physical revenue” (Blewett & Gollogly, 2017, para. 4). Moreover, Borja and Dieringer (2016) explore the concept of streaming even further in their academic article, positing that the decline in paid digital downloads may be a direct result of streaming—as, music streaming can be perceived as a “complement” for music piracy, in which listeners can freely sample music to pirate later on (Borja & Dieringer, 2016, p. 1). The authors also suggest that streaming can provide a “venue for discovering and listening to new releases”; and after completing their 1052 surveys, conclude that streaming increased the likelihood of piracy by

No one can deny that technology is actively changing the music industry. Production, distribution and sales of music have been affected dramatically within the last 10 years along with artists, composers, and technicians. Most of the changes have been great for consumers, but vastly negative for professionals in the music industry, however a few artists have found ways to adapt to the changing atmosphere of digitally downloaded music and use it to their advantage. We’ve seen music change form from physical, tangible products like records and CD’s to electronic single tracks stored in an invisible cloud. Two major factors in this sudden revolution are online music stores (specifically iTunes) and file sharing websites that allow music to be downloaded illegally.

“Before the days of YouTube and the Internet, a band 's chances of striking it big depended on record companies. If a band was lucky enough to get a record deal, it gained access to a label 's vast resources and connections. The company paid for the band 's studio time, … and got its music played on the radio, reaching millions of record buying Americans” (Majerol, 1). Now, anyone with talent can post a video of themselves and become an internet sensation, only to then receive a deal with a label to continue growing their career. The issue is, with the Internet came digital downloading, and with the growing popularity of digital downloading came illegal downloading, known as Digital Piracy, which has affected the music industry greatly. This issue affects everyone involved in the Music Industry. From the small CD store owner to the Artist on stage, everyone has and continues to be affected by the growing popularity of digital downloading services. Artists, producers, and songwriters lose an estimated 12.5 Billion USD every year to illegal digital music services. Further, the economic impact from [digital downloading] is an estimated loss of 2+ Billion USD (Storrs, 1). This money affects the “little guys” in the industry and the average worker within the industry.

The music industry is an oligopoly. Since the late 1800’s people like Thomas Edison have been buying up patents in communication technology, forming monopolies, leading to a non-competitive entertainment industry. With only a handful of corporations controlling all aspects of acquisition, distribution and marketing of music, harsh business principles create an exploitative industry that takes the best of what artists have to offer and leaves many of them unable to support themselves. Beginning in the 1950’s with payola and white cover music and ultimately evolving into iTunes and Spotify, the music industry has grown into a billion dollar industry with far-reaching influence and control. Contracts rarely serve the artists’ best interest and many are left out to dry when their usefulness has expired.

When musicians produce albums, they want people to listen to the albums. There is not one specific way for a band or single musician to gain an audience and promote their music. Musicians use many different kinds of media to promote their music. They use visual media as well as strictly listening media. The radio, television, and the internet are all different types of media musicians use to promote their music.

The music industry has been around for over two centuries (PBS). Its volatility can be measured by its ability to shift and change according to its time period, the technologies that arise through the ages and the public’s shift in musical taste. The music industry is comprised of many different components, organizations and individuals that operate within it. Some of these components include the artists who compose the music themselves, the producers that engineer the sounds created by the artists, the companies that handle distribution and promotion of the recorded music, the broadcasters of the music such as radio

Radiohead, one of the most popular and contemporary bands of this period, attempted a significant break from the industry standard of fixed price music. In 2007, Radiohead had planned release of its new album, “In Rainbows”, exclusively as a digital download on the band’s website, with an innovative pricing option of allowing its buyers to decide on how much they wanted to pay for the music. Radiohead’s “name-your-own price” pricing model for its new album generated an intense speculation about the future of recorded music industry. The key issues with Radiohead’s innovative distribution model and my views after an analysis of these issues are as follows:

When speaking economically, the digital music sector of the international music industry is undoubtably the most important sector in the industry. Within the last decade, music has seen cardinal changes in the way both major and independent labels distribute their products. An industry that once relied on Payola 's and mass distribution of physical records and CD 's now relies heavily on the power of the internet. The first instance of mass distribution of music through the internet was by the service Ritmoteca.com in 1998 [1]. Ritmoteca had a library of over 300,000 songs, offering individual songs for 99 cents each and albums for $9.99. After signing distribution deals with many major music labels such as Warner

In the midst of the United States’ “dot com bubble” (years 1997-2000), there was a surge in technology that brought about file sharing and digital downloads. Threatening the survival of the music industry and introducing a unique set of challenges for the industry to overcome. To remain relevant in the new global market of digital music online, the music industry would have to evolve and change with the introduction of each new facet technology had to offer. The introduction of digitally compressed music files, so easily attainable for a small fee or downloaded legally (pirated) for free, made the music industry reevaluate how to make a profit and protect copyrights. Social media created a visible opportunity for both consumers and artists to maintain digital relationships while providing a platform for consumers to follow and discover new musicians and bands, naturally, making the internet a promotional medium for artists. As the corner record shops closed to make way for virtual storefronts and instant downloads; the internet, digital downloading, and social media made an enormous impact on the music industry that has changed the way consumers purchase, source, listen to, and produce music today.

The evolution of the music industry follows the familiar pattern of digitization. Innovation began with the introduction of the vinyl record, transitioned from the cassette tape to the compact disc and landed us in an era of digital downloads. The emergence of music streaming services like Spotify has progressed the industry even further, giving consumers the ability to access music on demand using download-free online platforms. Spotify faces criticism from artists as a result of the overlap of creativity and commerce. They argue that business activities corrupt creativity, transforming it into a tool for profitability rather than an outlet for expression. Artists insist that Spotify deters album sales, favors established artists and fails to support them financially. However, Spotify was created for consumers. It delivers an accessible alternative to purchasing and downloading music. The interplay between creativity and commerce is changing the nature of the music industry. Spotify has adapted to this change, providing a platform that supports both artists and consumers. Through analysis of the market, artist’s revenue, record labels and consumers, I will argue that artists should accept the evolution of the industry and support Spotify.

The internet is an important tool for these singers to reach out to his or her fans. Websites such as Facebook and Twitter have been used as a way to do so. The internet has been used as a haven for illegal activities as well, one of them is piracy. When one mentions the internet, the first matter that comes to mind is piracy. The number of cases of online piracy has skyrocketed in the last few years. Websites such as The Pirate Bay and Mininova have been instrumental in this uprising of universal outcry for changes in copyright laws. Of all the types of media, books and music have been two of the most pirated. Full music albums are available to download for free on websites and eBooks have been pirated in large quantities. This movement of online piracy has influenced the population. Buying music is unheard of and ridiculed, while books are now downloaded more than they are bought in stores. This trend of electronic downloading instead of the old fashioned buying from a store has influenced our society immensely. Not only does it make books and music more affordable, it also makes it much more convenient for users, as they can gain access to full albums of music and books from the comfort of their homes. However, this trend of piracy also has its downside. Lesser known artists and authors whom need the sales from their books and music to make a living are now unable to because their works are publicly available for free on the internet.