The Digital Music Age; Why Artists are Losing Profit Essay

2096 Words 9 Pages
The rapid evolution of music distribution over the past six decades is no doubt nothing short of a phenomenon; from the vinyl record of the 1950’s and the many forms of cassette tapes introduced in the 60’s and 70’s, to the compact disc of the 80’s and the digital media formats of the present day. It is certain that the advancement of technology in these ways has had a dramatic effect on both the way we listen to our favorite artists and the way we interact with music. Furthermore, the rise in the digital music age has also changed the way we value music, or rather, devalue music. Through the evolution of big box retail stores, internet file-sharing and digital music streaming services, today’s music artist is losing profit from music …show more content…
The combination resulted in easy access to music for big box shops and lower prices from distributors. Mom and Pop shops could not compete.

To make matters worse, big box stores were even willing to take a loss on the profit of music sales in order to drive more traffic to their locations. Cds that were sold at standard prices ranging from $16.05-$18.95 were now being sold for as low as $7.00. This type of aggressive pricing was not sustainable for the brick and mortar record stores and they were forced to close their doors. According to The Almighty Institute for Music Retail, between the years 2000 and 2010, more than 4,000 record stores (including many chains) closed. As of December, 2009, 1,884 record stores remained in operation. The current (2012) total is 1,600. Thus began a painful exodus out of the music industry.

What makes the rise of big box shops and their discounted music so dismal? Surprisingly, it is not the demise of the record shop business model. Products will always be invented and then reinvented and then improved upon, and businesses must be willing and able to adapt to these changes. With such a rapid increase in technology, the mom and pop record stores were not sustainable in the long run and it was only a matter of time before their reign on the retail record throne came to an end.

What makes large front retail shops a tyrant in the music industry and a
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