The Impact Of Music On The Music Industry

In may of nineteen ninety nine, Shawn Fanning and Sean Parker had had enough of paying for music. So, like any entrepreneur of the late nineties, they took to the internet, and founded Napster. A free website that used file-sharing technology to allow people to get their favorite songs by sharing files over the internet. The website was so successful, record companies began to take notice of their dwindling sales. By December of the same year, Napster was sued by the Recording Industry Association of America (RIAA), and basically anyone else who produced music for copyright infringement. Although the site got shut down, Fanning and Parker started what would become the music industry's streaming revolution. Music has become more and more vital over time because of the technology we use. Learning more about music can be beneficial to people all over the world. Today we will discuss the ways in which we consume music in the twenty-first century, how it has evolved, and what it means for the music industry going forward. I am going to discuss the way we listen to music because I have done Research about this topic and this is something I am passionate about. First, I will talk about the different technology that was so big decades ago. Then, I will talk about the different ways we consume music today and what that mean for the future. The changes in music development had in incredible impact on the music industry.

The ever-changing landscape of music distribution, due to constant advancements in technology, is sometimes hard to keep up with for artist, producer, and consumer alike. New editions of textbooks in Music Business classes are issued each year, and changes are made in the industry before the semester is even over. Because of this, it is vital for the industry to not only not only be aware of what is currently going happening, but also be able to foresee the direction that the music business is heading in. In this aspect, it seems that we are at a turning point where consumers and artists are taking

Digital piracy on music has been a majorly disputed affair for the last eighteen years, about whether or not it favors the musical artists or affects them in a negative fashion. One of the many sides of the Digital piracy controversy expounds that it benefits the artist(s) by giving them a great deal of exposure that they may not have received had they not downloaded it for free, which in turn makes for a very significant acquisition in terms of sales on their part.

In recent decades, the music industry as a whole has undergone transformative change. From the introduction of the compact disc, to the rise of iTunes and digital downloads, to the current emergence of streaming services, the way that artists produce music and deliver it to consumers has been radically altered in the past 20 years. As record labels’ stranglehold on the talent search and product distribution side of the music industry subsides, streaming services such as Spotify and Soundcloud have become the preeminent distributors of new music. Their emergence has had a negative financial impact on the artists that drive an industry that has for years been one of America’s largest. Services like Spotify and Soundcloud are erasing the role of record labels in the distribution process, assuming that role themselves while paying small royalty fees to artists and labels for the right to stream to large subscriber bases that typically make use of free memberships. Due to the small number of paid subscribers accessing these services, industry revenue has dropped below $7 billion per year for the first time since record keeping began in 1973 (Seidenberg/Podgers). However, record labels are beginning to reach agreements with these services, ensuring that the labels themselves will continue to profit, and leaving the musician to suffer. And while these services do offer outlets and avenues for new artists to be discovered, the

In the twenty-first century, we have an abundant variety of music genres, old and new. Music has a versatile role in modern society. Music serves just as many purposes as it possesses in genres. For listeners, music is not simply an escape or form of entertainment; it is a source of inspiration and self-expression. Sometimes, this can be problematic and lead to false identities and music miscegenation. The music industry has had a powerful influence on what listeners consume. In this process, traditional black music genres have crossed over to the mainstream. This has been problematic in that it gives listeners the sense that the music industry is fully integrated. In reality, the white dominated music industry and labels are still using

The music industry has dramatically changed over the past years. What used to be a lucrative industry in which musicians and recording labels relied on each other to create and distribute successful music has seen much change throughout their business model. Beginning in 2005, with various new ways musicians can create and distribute their music evolving the Universal Music Group record label were at the forefront in their endeavor to capitalize on these new means. Already dealing with numerous changes within the music industry throughout the years, this digital movement gave recording labels yet another challenge to attempt to overcome.

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 history of the music industry is inevitably also the story of the development of technology. From the player piano to the vinyl disc, from reel-to-reel tape to the cassette, from the CD to the digital download, these formats and devices changed not only the way music was consumed, but the very way artists created it. (Edgar Bronfman, jr). The music industry is an ever changing and ever growing business, it adapts and changes with culture, economy and technology. For some it is a way of expression and offers realise from mundane reality, for others it is a money making machine there to be abused. But what is the future of the music industry? What place does it have in a digital world, ever growing and advancing? How has file sharing and piracy changed the music industry and what will it hold for the future business model? Many enthusiasts say we should embrace the revolution of digital and look to the future as an exciting adventure, with untold possibilities for recording artists and musicians alike. That the birth of digital and technology such as the compact disk offer new ways to create, record and distribute music in a way that was not available in a not so distant past, accessed only by those in control of major record labels and professional recording studios. But what is file sharing? what were the significant changes that have shaped an industry into being dominated by the digital download and illegal file sharing? The purpose of the study is to analyse the key

“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.

Nowadays, teenagers are living constantly surrounded by technology. Even if the younger generation may not see it, technology has had an impact on different factors. The widespread use of digital technology in the music industry has allowed consumers to reproduce digital versions of copyrighted songs inexpensively, with the help of many software and websites. There has been an increase in digital copying activities and those are most of the time claimed responsible for producers’ loss in revenues. While some people claim that the increase of digital technology has killed the music industry, in fact it has lead to innovation and new ways of consuming and sharing music, such as

Introduction: Setting the trend for the future, the distribution and consumption of recorded music transformed dramatically with the launching of Apple’s iTunes in 2001. The proliferation of online music subscription services and other music sharing services exerted a great pressure on the conventional music distribution business model. Combined with this transformation, piracy of digital music had a profound impact on the whole industry. These worsening conditions in the market place for recorded music forced both established and upcoming new artists to experiment with new ways of selling their music.

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.

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

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.

Companies like Apple, have decided that it is best to get in with the downloading business. However, an end to the illegal downloading conflict remains to be realized. The RIAA and associated artists continue to wage war against illegal downloaders while computer savvy audiences persist in sharing music files online every day. While it is undoubtedly true that downloading music is a crime, it remains to be proven that it is wrong. Without establishing this principle, most downloader's are likely to continue the activity. Even with new, inexpensive and available means of downloading files, they can still be shared for free online. The rift must be repaired between music lovers who feel that they have been taken advantage of in the past and recording companies and artists who worry about their future livelihood.