Friday, August 7, 2015

Internet and The Music Industry

The music business used to be a lot more simple and straight forward prior to the invent of the internet. Then, as the use of the world wide web started taking over the world, the music industry too went through a major shift in the way it operated. The old business models started falling apart, and companies like Napster forced change in this industry in a big way.

There used to be a time a couple of decades ago, when an artist would get signed by a major record label based on their talent and potential, record songs in the studio, and the wait to see the reaction of the people. In the current day and age, musicians have to do a ton of work prior to even being considered by record labels.

Musicians now have to be internet savvy, create social media profiles, be active on social media, push their music and videos through the internet even before being considered by record labels.

Additionally, websites like youtube have made it possible for anyone to upload their videos online, and so thousands of amateur artists are uploading their videos and music online every year, if not every month. As a result, the supply of musicians and music is at an all time high...creating a surge in competition for new musicians.

Then there are sites like iTunes that have made it possible for anyone to upload their music and sell it online. This has given c good chance to new and upcoming artists (especially ones with talent) to make an income and gain an audience even before they get discovered by major record labels.

These are just some of the changes that have taken place in the music industry, and new business models like selling ringtones of popular songs are emerging every day.

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