Recording Industry Essay

The recording industry, a main component of the music industry, has been around since the late 19th century. It’s been around much longer than the internet, however it has wavered financially due to easy access to free and, at times, illegal music. It is important to see how this phenomenon is taking place currently. Is the music industry benefitting from the rise of the internet? Will it crumble completely? And if so, is it beneficial to artists? Or does the industry’s failure put a strain on artists trying to make a living? The future of the music industry relies on the nature of its relationship with the internet: cooperative or competitive. Despite the recording industry’s strong presence throughout the 20th century, it has seriously taken a beating since the emergence of the internet. Even early on, there were issues with illegally downloading music with websites such as

The industry’s inability to keep up with new technology. The old music industry had to be run by control. (Wikström) However, now it is more about connecting different parts of the industry in order for it to run efficiently. (Wikström) Currently, the recording industry is estranged from the artists and consumers. The music industry is “conservative” when it comes to advancing as quickly as possible. (Dolata). In the past, when given the chance to start a new wave of digital music, most companies stuck to CD’s, tapes, and records. Though these physical forms of data are coming back into popularity, the new craze does not even begin to make up for money lost. In simple terms, consumers out-smarted a corporate entity. However, the industry can make a comeback that will not only benefit the rich guys running it. Supporting legal purchases of music in the style of the RIAA or even releasing music for free, could get the internet-age consumers back on the same page with the recording industry. Thus, the entire music industry will be in tune