Topic > Changes in the Music Industry - 829

The music industry is a revolutionary entertainment industry that is constantly evolving 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 become a worldwide industry where musical artists can 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 people to explore and expand their imagination while listening to a song. Over the years the industry has undergone dramatic changes. Be it the genres, the forms of distribution or even the impact that the artists have had. The sector is diverse and constantly evolving as the years pass. Over the last 20 years the industry has changed with the help of technological breakthroughs and adoptions. An important change that has occurred is the distribution of music in digital format. Music now in our society is purchased via the Internet. The simplicity of having an entire music library on one device instead of having stacks of CDs or tapes was embraced. The emergence of the Mp3 file has changed the way we listen to music. Mp3s are portable digital songs, which provide high quality sound and are less expensive. Essentially, by eliminating the middleman, digital music has taken control of music away from the major record companies and put the power in the hands of the listener. Large companies like Apple's iTunes created digital music distribution. CNNMoney states that "iTunes is currently responsible for 63% of all digital music sales" (CNNMoney). They established the standard of 99 cents for a single song, which was quickly adopted by major music companies. Selling songs by individuals has provided more control... middle of the paper... its because they make money by licensing music for streaming services. Labels are embracing streaming services as it allows for another way to generate revenue in a not-so-strong music economy. Music has been a part of human culture since the beginning of time and continues to transcend language barriers, belief systems and remains completely open to interpretation. Music has changed drastically in the last 20 years. The main merit is the Internet, which has opened up a completely new world for music. Music will continue to evolve over time as the industry finds new ways to use the Internet. Major labels have found that adapting to new ways of the industry has provided them with continuous change. Musicians and labels must continue to be open to accepting changes as time passes, to the benefit of both consumers and themselves.