Thursday, February 7, 2008

The music industry has changed dramatically in the last 10 years. What was originally a growing, successful business has now started losing millions of dollars per year due to one cause: internet downloading. Before computers were as wide spread as they are, CD’s cost upwards of $20. Now that music downloading is so easy CD stores are practically giving them away at ridiculously low prices to try and compete with illegal downloading. Even though legitimate online music stores now exist it is hard to compete with free music downloading. Some artists have embraced this new technology such as bands like Radiohead where their new CD was available online for as much as you, the consumer, felt like paying. To save money many people just took the CD for free but it shows a trend that some people in the music industry are starting to embrace the idea of free music downloading and somehow deal with it. Other bands like Metallica are totally against any form of music downloading and just recently signed a deal with Apple to allow their music on Itunes. With the ease of free music downloading it will be very difficult to convince the general public to buy their music. I believe that a totally different approach to music sales and distribution is inevitable for the future if music as we see it today wants to exist.

No comments: