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The Internet has been hailed as one of the most prolific inventions in modern times. Although many believed it to be a passing phase at its inception, it has proven to be a driving force especially in the business world. Most industries have seen a boom in business due to the access of the global market the Internet draws. However, many have had to deal with the increase in competition. The music industry is no stranger to some of these challenges. Much has been said about how music piracy has decreased the revenue for some in the business. The Internet has revolutionized not only how music is made. It has affected economically the record companies the artists and those who listen to their music. 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...
The Internet—as it did for almost everything—has radically changed the way people get music. The Internet has cut into the music industry's profits. It reduced the demand for CDs, increased the interest in singles and let people decide whether they want to pay for the new Prince album. This alone could be offset if all of the people pirating music would go to their favorite artists' shows. However, the hard economy has rapidly cut into people's ability to spend on luxury items and concerts rank right up there with sports in terms of practicality.
It’s probably not feasible to avoid streaming music services nowadays. Every smart phone on the market is able to operate numerous music streaming applications, ranging from radio-style streaming, on-demand streaming, and even cloud-streaming. Smart TVs come equipped with Spotify, Pandora, or Rdio. AT&T partners with Beats music to offer a unique on-demand music streaming service with playlists complied by DJs. It seams that with the advent of Wifi hotspots and high-speed mobile Internet services, music streaming is becoming more and more a part of mainstream life. Spotify has been in the spotlight within this particular segment of the streaming industry ever since its introduction to the United States in 2011. (Roose, n.d.)
Internet piracy has been a source of much controversy as it has grown and become the new medium of communication in our generation. The Internet connects so many people with so many products and, as in all industry, not all these people and products are fair and honest. The same is true in the world of the online music industry. Some artists champion the public's right to hear and record their music in an "industry-free" atmosphere. Others fear that their art is being exploited and their rights denied. In October 1999 the IFPI announced its efforts "aimed at ridding the Internet of large amounts of pirate content and paving the way for artists and record companies to deliver music electronically and legally across the world" (IFPI, 1999). The recording industry is collaborating to try and fight this exploitation. The "IFPI estimates there are some 1 million illegal music files posted on the Internet at any given time" (IFPI, 1999).
Do the names “Dirty Diana”, “Superstition”, and “I Heard it through the grapevine” sound familiar to you any? Well does it? These are major hit records made by well-known artists and musicians whom we know couldn’t take overnight to accomplish. Where do you think most artists started their musical journeys? Maybe it all started while in their basements banging away at tools, shelves, etc., or while sitting on the swing set in their backyards imagining how it would be to be famous, or even while just having a good ole fashion play date in their tree-houses with friends or family discussing each other’s goals and dreams.
Upshaw, D., & Babin, L. A. (2010). Music downloading: Competing against online piracy. International Journal of Business & Public Administration, 7(1), 14-26. Retrieved from EBSCOhost
The music industry is an ever-evolving revolutionary entertainment industry for the masses. Music provides entertainment to all different masses due to the variety of genres produced. Music is a very profitable and complex industry. Music has expanded to a worldwide industry for musical artist to express their art through the form of song to the masses. Music not only appeals to the ears but to every aspect of a person. Music allows for individuals to explore and let their imagination expand as they here a song. Throughout the years the industry has undergone dramatic changes. Whether it is genres, forms of how it is distributed, or even the impact the artist have had. The industry is diverse and ever changing as the years continue. In the past 20 years the industry has changed with help of the technological breakthroughs and adoptions.
Define and explain globalisation, then critically evaluate and illustrate the impact globalisation has had on a particular business, the industry it operates in, its country of origin and the country or countries the business has expanded into.
Napster was a peer-to-peer (P2P) file sharing application that was created by Shawn Fanning in 1999. This application was developed so that users could share compressed music files with other users by searching their hard drives and transferring copies of the files via the free Napster software. Though Napster aided in the facilitation of these file transfers, it did not store music files on a server or any other company owned computer or storage device. Popularity of Napster quickly soared; within a year’s time, Napster’s website was a rated as a top 50 most-visited web address.1 Record companies took notice of Napster’s popularity, and also took issue with the large-scale distribution of their copyright protected music
Music Business Music Business Exam Number One Question 1 - What is The music publishing industry at a glance would seem to be those who print sheet music, method books, lead sheets, and all of the texts or notated music that musicians (and those aspiring to be musicians) use. Years ago, this was what most music publishers did, but as the industry has evolved, the process has become much more complex. Music is not just ink and paper, intellectual material and property to the individual who writes it. Therefore, the song does not become "a song" when it is written down. This is not an easy concept to grasp because the song itself has no physical makeup.
Napster was the pinnacle of this combination of recording technology and the internet. Napster was an internet company that launched in 1999 and focused on music streaming and music downloading. At the time Napster was the only real web company looking at the industry of music streaming and music downloads and as a result , Napster saw tremendous success in the first few years of its life and taking the crown as the fastest growing business ever , a record still unbeaten today. Napster’s focus with regards to peer-to-peer music sharing was ease of accessibility and speed , and in both areas they excelled. Napster made peer to peer music sharing easier than anyone had previously thought possible with the introduction of their massive online music market place in which people could share any type of free mp3 into one mainstream directory. However much like streaming services that push the envelope of accessibility Napster ran into several problems along the way and faced heavy opposition.
Record companies provide an essential role to the music industry, as they provide the most income to the system, (which is provided by a percentage of all artist’s revenue) which is then used to fund other up-and-coming artists around the world, creating an ever-lasting system of funding for artists globally.
When musicians produce albums, they want people to listen to the albums. There is not one specific way for a band or single musician to gain an audience and promote their music. Musicians use many different kinds of media to promote their music. They use visual media as well as strictly listening media. The radio, television, and the internet are all different types of media musicians use to promote their music.
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...
The Internet has led to financially devastating consequences for the music industry (Stafford). The industry is struggling to generate enough revenue because of new technology (How the Internet Changed Music). When music changes hands without money being involved, royalties can’t be paid. Since royalties can’t be paid, so much has been done recently to try to prevent illegal downloading. The availability of music for free has cost the industry $2.5 billion in economic loss (Writer).
Moreover, hackers came up with new ways to remove the digital copyrights so the same as before one downloads music and distributes them around. The industry gets its revenue from selling this content, whether it’s online or in stores, this funds new projects and allows for better products in the future. The public should be aware of this, downloading the content for free, and not buying it will decrease revenue for the companies, stopping them from undertaking future projects. “Production companies should lower the price on their products, I can’t buy music for at least 20$ per album and DVDs for 30$, I only make 200$ per month,” said George Issa, a music fan who spends most of his nights downloading music from the internet, “when there is an album or movie that I really like, I try to buy it legally, I don’t think I am doing anything wrong, they are wrong making money off our backs,” he added.