Topic > The Change in the Music Industry - 929

Unlimited access to music makes it easy to forget that people's careers are based on the profit behind each song. A continually diminishing profit, something that forces companies to rethink the way they deliver music to us fans. This will affect anyone with the slightest interest in music. Some for worse, but many for better.STATE OF THE MUSIC INDUSTRYEarlier this year (DATE???) alt-rockers Cake topped the Billboard 200 with their first album in seven (??? ) years, Showroom of Compassion. The album sold 44,000 copies in the first week of its release, a record low for a number one hit. At the same time, Britney Spears' single “Hold It Against Me” topped the digital songs chart with 411,000 copies sold. The two graphs illustrate the change in the way we listen to music. The Internet, as it has with almost everything, has radically affected the way people buy music. The Internet has cut into the music industry's profits. It has reduced demand for CDs, increased interest in singles and allowed people to decide whether they want to pay for Prince's new album. This alone could be offset if all the people who pirate music went to their favorite artists' shows. However, the difficult economy has rapidly reduced people's ability to spend on luxury items, and concerts rank on the same level as sports in terms of convenience. This one-two punch has left the industry experimenting with different ideas trying to find the next revenue stream. No one is sure where the music industry will be in the next five years, but things are already changing. Musicians have more and more avenues to reach fans, and major record companies no longer dominate the scene. This is good for musicians and even better for fans... middle of paper... more intimate venues. Think First Avenue instead of the Excel Energy Center. The strategy helps artists because loyal fans are the ones most likely to go to shows (and buy a T-shirt). It's a win-win for fans because they get so much more from the artists they love dearly. Gorillaz released an entire album for free last Christmas as a tribute to their fans. Artists and fans have been at the forefront of the revolution in the music scene, and both have benefited from it in various ways. As major record labels try to find new ways to return to the years of huge profits, many artists have found new ways to connect with fans on a more personal level, as well as new ways to get their music heard. Fans are discovering the benefits of following artists who aren't controlled by four-record deals and corporate input. The music landscape is changing. This is a good thing.