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How has technology affected music in society
Effects of technology on the music industry
Music industry introduction
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MUSIC SALES The new age of commerce has changed the way trading occurs. Record labels were once sluggish and governed by selfish interest, employing the “Build it, and they will come” concept. A limited amount of content on the web was tested and proved to be a consumer preference even in the 90’s. Today free web content has become the numb that would not just go away, the music industry has taken one of the biggest hits in the process. An album can be likened to a case of water at a gas station, while a single would be a bottle; the average customer likes the power to choose between the case and the bottle. The convenience of buying what I want, and how I want is a key factor in today’s market. According to the Recording Industry Association of America, since the introduction of iTunes Music Store in 2003, album sales have plummeted in the US from $11.8 billion to 7.1 billion last year. Numbers show customer now favor singles. Many claim the labels in the past forced them to buy rubbish, but thanks to the Internet, people can now buy what they need. Page 2 Buyers that have CD collections can pick up a couple of their favorites, look at the track listing to realize they do not like every song on it. However, they are no longer limited to in options to buy music, making single tracks win. Although record sales have dropped, the labels still market their products the same. Units are calculated combining singles and albums. The companies believe we should buy albums; an executive was quoted as saying “It's all about re-creating the bet... ... middle of paper ... ...99 iTunes download, but when compared to sales from her husband’s album which sold exclusively via Samsung on the day of release, it’s easy to conclude that he made the better business choice. Works Cited Work Cited "RIAA Accounting: Why Even Major Label Musicians Rarely Make Money From Album Sales." Techdirt. N.p., n.d. Web. 05 Feb. 2014. N.p., n.d. Web. . "Business & Money." Business Money Spotify and YouTube Are Just Killing Digital Music Sales Comments. N.p., n.d. Web. 05 Feb. 2014. .
An “analyst” was quoted in the case (in 2002) as saying that “people will pay for music on the Internet, eventually.” This person was skeptical of the willingness of consumers to pay for
CD? Is it fair for the Artist to in essence be charging that person $20.
The stakeholders involved in this case are the artists, the recording industry as a whole, retailers, and consumers. All of these stakeholders are affected equally in this matter. The artists, recording industry, and music retailers face substantial loss of income if c...
National Music Publishers Association ( NMPA ), 1997. International Survey of Music Publishing Revenues. New York: NMPA.
“The Record Industry is in trouble,” says Jann S. Wenner in an editorial appearing in a recent issue of Rolling Stone Magazine. “Album sales are now down almost 20% from two years ago, and the record business is facing the biggest retail slide since the Great Depression” (Wenner). People are buying less and less products released by the recording companies. “Nobody doubts that the music business is in trouble. Last year, global sales of CDs were down by 5% from 2000, the first fall since the format was launched” (NAPSTER R.I.P). The Nielsen SoundScan, used to report final sales to consumers, revealed some of its figures in a September 2002 issue of Billboard Magazine. “Nielsen SoundScan reports that overall music sales compared with the year before were off by 12.6%…while album sales were off by 9.8%. Total first-half units sold fell to 317.7 million units from 363.4 million; the number of albums sold slipped to 311.1 million units from 344.8 million – an 8.1% drop” (Garrity). Even the number of albums that become hits is...
Spellman, Peter. "Music Business Solutions: Music Business Education: The Real Reason Major Record Companies Suck." Music Business Solutions: Music Business Education: The Real Reason Major Record Companies Suck. Web. 11 Apr. 2014.
With the popularization of the MP3 format a few years back came a renewed interest into listening to music. One of the great advantages of the Internet was that it allowed for almost immediate access to information instantaneously. If a song had been recorded, then there was a good chance it could be found on the Internet. The MP3 format allowed listeners to check out new artists and allowed for people to sent songs to each other of artists they thought should be heard. This was a good way for unknown artists to be heard or forgotten artist to be re-discovered. Radio station play lists or MTV’s idea of the next big thing did not fuel this rekindled interest in music. Rather a desire to simply listen to music was all that drove this phenomenon of people downloading music.
Consequently, vinyl record sales have seen a recent increase, given that consumer demand for these items as increased for the past 5 years since 2012. Artists noticed this trend and started to produce their music on the vinyl format again to meet demand, and can command a higher price not only because of the demand the consumers give, but also for the materials used to create a 21st century vinyl record. Fortune reports that “Fueled by that unique sound quality and a nostalgia wave, sales of vinyl records were up 32% to $416 million, their highest level since 1988, per the RIAA” while the streaming services reported up $385 million in
The most significant down side to technology is the loss in revenue from album sales. Illegal downloading of music has become prevalent in today’s society, and many artists—major or independent—receive little to no profit from album sales. Many companies, such as Apple, have tried combating the issue with protected file formats, but a loophole has always been found to bypass the protection. Unsigned and independently signed artists hurt the most, as they pay almost everything out-of-pocket to produce their music. The only feasible response to the loss in revenue, artists have found, is to increase tour dates. In today’s age, it is not rare to find artists who tour more than eight months out of each year. Touring has become one of, if not the only, reliable source of income for many
Although a lot of times the artists the labels push are not successful, there are also times where they succeed. Artists such as Pink Floyd, the Rolling Stones, ACDC, Foo Fighters, Journey, The Beastie Boys, Eddie Van Halen, Rick Springfield, The Beatles, and Nirvana are all examples of successful artists who were picked up by record companies because they were the next new, big, thing andor because they were considered to have potential for making money. The record industry has been around for about a century, and recently the record industry has taken on a transformation. There were many changes in the business of music records from the 1980s onward.... ... middle of paper ... ...
The future of digital music has many hurdles to overcome. Right now users are locked into a store and m3p player combination that allows the consumer no freedom of choice. While some record companies are exploring the concept of releasing DRM free music, the reality is that for the foreseeable future, DRM is here to stay. However, steps can be taken to open up DRM schemes and allow users the fair use rights that have been previously established by the United States government. Several companies are also exploring Web 2.0 concepts that could truly revolutionize the music industry and forever change how we listen to and discover new music.
When it comes to the music industry, an artist makes a song, the label sells the song and then the listener buys it? In the world today, the music industry is knowledgeable of digital downloads, music videos, file sharing, and now social media. Social media is the voice of an individual and captures joy, emotions or thoughts in pictures, tweets or status updates. It is a reachable space that is used to keep in touch and to reach out. Social media allows listeners to shares their favorite artists, post their favorite songs and really created a genuine connection with the artists. The music industry has changed because social media is a tool needed to connecting with the listeners. Social media is necessary to maintain a career in the music business.
The music industry started in the mid 18th century with Wolfgang Amadeus Mozart. Through the decades there has been a great increase in this industry; however, the revenues for this industry have declined by half in the last 10 years. This has been caused by music piracy, which “is the copying and distributing of copies of a piece of music for which the composer, recording artist, or copyright-holding record company did not give consent” . After 1980’s, when the Internet was released to public, people started to develop programs and websites in which they could share music, videos, and information with...
In the Pre internet era record labels controlled the music industry. They produced, distributed and promoted the music. They were the middlemen between the creators of the music and the consumers. Naturally they received most of the profits of their enterprises. They even went as far as obtaining the rights to their artist’s songs and in some cases even their names. Their financial succes...
Let’s flashback to the early years of childhood when artists would announce when their album would be released and us kids would get all excited and couldn’t wait to get into the store to buy it. We would save up all of our money for that day, beg our parents to drive us to the store, then would put the CD in our little CD players and listen to it on repeat. Nothing made us happier than buying that new CD from our favorite artists.