The Effect of the Internet on the Music Industry
From shopping for clothes, to keeping in touch with relatives and friends, from checking the weather forecast to paying the telephone bill - the internet has affected the way we live our lives in almost every area. The impact it has had on how we listen to and consume music has been huge, and it seems impossible now to imagine life without it. The music industry has often been a step behind in exploiting the uses of the internet.
The music industry was caught unaware by the file-sharing application Napster, founded in 1999. Although it was forced to close due to copyright issues, file sharers found many ways of acquiring free music. Confusion over the legality of such issues and a lack of legitimate means to purchase music online meant that many people felt fine file-sharing.
Online stores like Amazon and iTunes give people a massive selection of songs to purchase instantly at reasonable prices. While some stores used digital rights management in the early days to prevent file sharing, they also stopped legitimate uses which seemed to punish people for paying for music. The decision of these stores to end DRM with support from the music industry can be seen as a sign that the industry respects its customers.
The potential for the music industry to promote its artists online is huge, with social networking sites such as Facebook and Twitter allowing a less corporate-appearing approach than official websites or email newsletters. Media sites such as YouTube allow music videos to be easily watched. The music industry has been cautious about such sites as they could not see an easy way of making money from them. While advertising is now used to increase revenue, they should be valued as being able to create a buzz about a certain act.
Rather than trying to ignore or lock down the internet and see it as a threat to business, the music industry has to recognise the power of the internet and see that the way music is consumed has irreversibly changed. By focusing on how best to capitalize on these changes the industry can look forward to benefitting from the huge interest in music from established and developing markets.
The music industry was caught unaware by the file-sharing application Napster, founded in 1999. Although it was forced to close due to copyright issues, file sharers found many ways of acquiring free music. Confusion over the legality of such issues and a lack of legitimate means to purchase music online meant that many people felt fine file-sharing.
Online stores like Amazon and iTunes give people a massive selection of songs to purchase instantly at reasonable prices. While some stores used digital rights management in the early days to prevent file sharing, they also stopped legitimate uses which seemed to punish people for paying for music. The decision of these stores to end DRM with support from the music industry can be seen as a sign that the industry respects its customers.
The potential for the music industry to promote its artists online is huge, with social networking sites such as Facebook and Twitter allowing a less corporate-appearing approach than official websites or email newsletters. Media sites such as YouTube allow music videos to be easily watched. The music industry has been cautious about such sites as they could not see an easy way of making money from them. While advertising is now used to increase revenue, they should be valued as being able to create a buzz about a certain act.
Rather than trying to ignore or lock down the internet and see it as a threat to business, the music industry has to recognise the power of the internet and see that the way music is consumed has irreversibly changed. By focusing on how best to capitalize on these changes the industry can look forward to benefitting from the huge interest in music from established and developing markets.
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