The real and virtual world has literally crashed into each other with the invention of the internet. It is impossible to imagine a world without the internet today and a few decades ago this phenomenon was unheard of. But it has transformed our lives and offered broad avenues.
The Internet has essentially not only revolutionized the music industry for all events but every industry for that matter. But there are pros and cons to everything and the internet is no different.
The High Note
The outdated and non-available songs are easily downloaded from the Internet. Also, a singer doesn’t own his album as the recode label does. And if the record label stops producing an album in the market then it is gone for good.
In this case, every singer can leave their mark for eternity as long as his songs are available online. He can create a fan following based on his older hits and create a vibe for upcoming songs and albums. Because the singer knows he doesn’t own his music, but he does own the fans.
Most artists are unable to sign their albums with these big labels. They have the media power and money to launch an artist. Thus an unknown artist can use the internet as an advantage for promoting and popularizing his work.
Radiohead “kid A”
Their album sales skyrocketed with its internet release. Radiohead never used music videos, advertising for its album. It relied solely on the internet and yet sold 210,000 albums during the initial week. Many pop icons release their songs and albums online for publicity.
The music industry needs to adapt fast and change with the changing times. The opinions are mixed. Some believe it is for the better while others think the music industry is under pressure. Some believe with the internet the music industry has touched new horizons.
The music industry stands completely vulnerable to music piracy. Due to music piracy, the record labels incur substantial losses, so does the artist. Music is now easily available across the internet.
The music industry is head over heels with piracy which is termed as an illegal copy of an original item. Music piracy has many forms which constitute websites where free music is uploaded for users, street vendors selling music cd for low prices, stores selling rewrite cd. That does significantly affect the outcome for the record labels and singers.
The new ones have problems getting noticed. Now forty-three percent of people globally download music for free. The market is further being corrupted by file-sharing companies like mega upload offering free file sharing among users.
Every year the music industry incurs losses of 4.2 billion dollars due to piracy globally. The street value of cd is a fractional of what is in the retail stores and retailers stand to lose against them. The singers, producers, and other people involved are unable to obtain royalties. All the singers solely rely on this and concert gigs to make a successful living.