The music
industry would never be the same after it was rocked by the illegal downloading
craze from the emergence of Napster in 1999 and peer-to-peer file sharing
programs alike. After the plummet of albums sales and peer-to-peer programs’
side effects on other streams of revenue, the music industry now looks towards rebuilding itself. Innovators are learning from pioneer technology companies
like Apple’s iTunes to find a way to incentivize consumers and drive music sales back up. Organizations and
entrepreneurs are creating new business models centered on ideas that are
ironically tailored towards peer-to-peer file sharing. The materialization of
Spotify, Sound Cloud, Pandora, Rhapsody and many other music programs have created
new revenue outlets for the music industry because of their border
breaking services in paid file sharing services, subscriptions, and more.
Technological
innovations have always been the centripetal force for all financial, social,
and cultural changes throughout the history of the music industry regardless of
their degree or direction of impact. For my semester project I want to dive in
and breakdown how the emergence of startup programs or changes major
corporations made in their business models to create music sharing or
downloading services have altered the music industry in the past thirteen years. By tracking the progression
of these new models, the effectiveness of their services, and approaching the
industry from a modern perspective will hopefully provide enough research to
grasp where the industry is heading statistically, culturally, creatively and
beyond.
- Ross, Nick. "The Real Reason Why the Music Industry Collapsed." Www.abc.net.au. N.p., 24 May 2012. Web. 10 Sept. 2012. <http://www.abc.net.au/technology/articles/2012/05/24/3510494.htm>.
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