The Music Industry Is Changing Rapidly With The Advancement Of Technology

2009 Words9 Pages
The music industry is changing rapidly with the advancement of technology. The way consumers listen to music now, is nothing like the how it was in the past. The same amount of change has gone into the way that artist, producers, and labels make their money as well. The industry will continue to change and develop as we move further into the future. The advancements in technology have allowed for more convenience for the consumer. The consumer can now sit at their computer and listen to whatever music they want instantly for a much smaller cost than having to go to the store and buy the artist’s whole album. The age of being able to hold music in your hand is over and everything is now streamed through the internet. During the…show more content…
During the work week, internet radio has approximately three times the amount of listeners as all broadcast radio channels combined at all times of the day [1]. While broadcast radio is quickly declining, there is still about $16 billion in advertising revenue coming into the industry [1]. This is a large enough amount of money that broadcast radio won’t die out in the next couple years. The radios can still play the hot new hits from major artist and obtain enough listeners to create advertising revenue. As listeners have migrating from AM radio to FM radio to internet radio, the major advertisers have followed right behind them. The advertising companies want to market where they can hit the most consumers for the smallest amount of money. If there is three times the amount of people listening on the internet than on broadcast radio; it only makes sense to advertise on the internet radio and hit three times the amount of consumers as the same add on broadcast radio would. As we move further into the future, the music industry will be less about selling music to the consumer through iTunes, CS’s, or MP3’s and turn more to selling listeners to advertisers to make the money. Music streaming has been helped along with the development of music algorithms. These will only develop further in the future and create an even better music listening experience than what we have now. The music algorithms are used by all of
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