The Impact On The Music Industry - 1240 Words

Streaming Sights Profit, While Creators Barely Get By Music streaming sites, such as Pandora and Spotify, have a negative impact on the music industry as a whole. Streaming affects more than just the music business itself, it astronomically decreases industry revenues, steals from and devalues the worth of the creators and their content, and is run from a poor business model that is only profitable for streaming companies. Not only do streaming sites directly disturb the music industry as a whole, but they also affect the U.S. gross domestic product, or GDP, a good portion of which, about 11% is comprised of copyright revenue. A large part of copyright revenue is produced from sound recording copyrights, typically owned by labels, and from musical works’ copyrights, typically owned by publishers. When streaming sites pay their miniscule amounts, they pay revenues directly to the holders of the copyrights, essentially creating a loss for not only the music industry, but also the copyright industry. Companies such as the Recording Industry Association of America (RIAA) regularly post revenue statistics that include income from CDs, streaming, downloads, cassettes, SoundExchange, and every other profitable area of the business. What they show is shocking; revenue has decreased by more than 50 percent, from around $15 billion to just under $7 billion. When sites pay miniscule amounts, such as .006 to .0084 cents (Spotify) or .000017 cents (Pandora) per stream, the total revenueShow MoreRelatedThe Impact Of Music On The Music Industry931 Words   |  4 Pagestechnology is actively changing the music industry. Production, distribution and sales of music have been affected dramatically within the last 10 years along with artists, composers, and technicians. Most of the changes have been great for consumers, but vastly negative for professionals in the music industry, however a few artists have found ways to adapt to the changing atmosphere of digitally downloaded music and use it to their advantage. We’ve seen music change form from physical, tangibleRead MoreThe Impact Of Music On The Music Industry2439 Words   |  10 Pagesto mind. Music is arguably a field that can be just as, if not more diverse and complicated as theoretical physics. As such, it’s harder to specifically narrow pinpoint someone as a key figure in music. Unless that key figure is Kanye West. From his arduous and near-fatal beginnings to self-proclaimed godhood via the Yeezus persona, Kanye West is without a doubt one of the most important and influential musicians this generation, not only in the hip-hop genre, but in the music industry as a wholeRead MoreThe Impact Of Digital Music On The Music Industry896 Words   |  4 Pagesdownloads. Threatening the survival of the music industry and introducing a unique set of challenges for the industry to overcome. To remain relevant in the new global market of digital music online, the music industry would have to evolve and chang e with the introduction of each new facet technology had to offer. The introduction of digitally compressed music files, so easily attainable for a small fee or downloaded legally (pirated) for free, made the music industry reevaluate how to make a profit andRead MoreDigital Music And Its Impact On The Music Industry1807 Words   |  8 PagesDo you listen to music from CD’s, or do you prefer listening from your phones, computers, etc? The internet is now widely available via computers and phones, as well as other devices. Furthermore, it is becoming easier and simpler to listen to music through these products rather than from a separate disc. Digital music began when iTunes was first published in 2007. Moreover, iTunes revolutionized the music industry because it allowed people to purchase single songs rather than a whole album, andRead MoreThe Impact Of Internet On The Music Industry1276 Words   |  6 PagesIntroduction: The music industry consists of the companies and individuals that make money by creating and selling music (Wikipedia). The current music industry which emerged around the middle of the 20th century has been undergoing drastic changes for the past two decades. When the Internet, and peer-to-peer file-sharing services such as Napster, Kazaa and Limewire, began their rise at the turn of the millennium, many predicted that the music industry, among other entertainment sectors, was headedRead MoreThe Impact Of Digitalization On The Music Industry2561 Words   |  11 PagesExecutive Summary The industry of music is affected profoundly by the innovation of music digitalized for the past twenties years roughly. In specific, the every stage of value chain of music industry have been affected by the expansion of the internet worldwide and the content of music digitalization (Bourreau, Gensollen and Moreau 2008). The digital music consumption replaces the traditional physical copies continually in general. About amount of 25% of global music revenue proves the usage ofRead MoreTechnology And Its Impact On The Music Industry Essay2573 Words   |  11 Pages Technology and Its Impact on the Music Industry Name College Technology and its Impact on the Music Industry Introduction The creation of musical works has always been culminated by several different processes and usually involves many people. The process takes a lot of time delaying the release of music. Advancement in technology has played a significant role in the music production by lowering the length of time it takes to produce recorded material. Artists usually sign a contractRead MoreImpact Of Technology On The Music Industry1933 Words   |  8 PagesOver the years, music has become portable, starting with the transistor to a set of headphones. Technology has allowed us to create a diverse musical culture. Music will always have an effect on one’s culture, and it has definitely mad a huge impact on the use of technology. Cultural diversity is about bringing people closer together though the World Wide Web. Many music publishers are the key to cultural diversity when it comes to publishing all genres. They will increasingly continue to play aRead MoreThe Impact Of Technology On The Musi c Industry Essay2587 Words   |  11 PagesSignificant Impacts on the Music Industry It’s intriguing how the music industry has significantly changed throughout the years due to the constant increase of technology. There are many different reasons to show how technology has made a huge impact whether positive or negative on this phenomenal industry. Music cultivates so much meaning to the world, and speaks volumes on the behalf of individuals when they don’t know what to physically say. That being said, whether it’s listening to music, creatingRead MoreThe Impact Of Technology On The Music Industry1845 Words   |  8 PagesCountless people are always saying that today’s music is trash. It’s repetitive and oversimplified, and all because of this new music technology constantly being developed. A listener rarely hears a piece of music that has not been touched by technology, but this isn’t necessarily a bad thing. These people fail to realize that the theory of music technology has been around since the 1700’s when Moza rt invented a game using a die to compose music by chance (Baggi). It is also important to realize