Monday, 8 March 2010

Does the emergence of the digital download siganl the end of the music indistry?

I don’t believe the emergence of the digital download signal the end of the music industry however it is something to be debated. With the emergence of new technologies business’ need to adapt and take measures to keep up with their market. If the industry and it’s artists loose profits due to the decline in record sales then other areas of the saleable market need to be utilised – concert sales, brand endorsements, fashion lines and such other business deals. Artists and record companies have started to realise this and artists such as Lady GaGa (who has just gone Diamond) supply the whole commercial package – larger than life shows and costumes that entice fans to buy albums just to see the artwork on the cover and the pictures inside. In conclusion I think this just spells a big change for the music industry In that they will have to be shrewder in their business approach – which also means that smaller bands with less financial backing and business support may fall behind leaving us with an industry full of commercial bigwigs.