Wednesday, 24 September 2014

Music Industry Crisis

Music Collection
    • For most of the 20th Century record companies made money by selling a tangible product such as: a vinyl disc or a CD. The majority of the public had a CD collection in their house full of discs they had brought from music stores e.g HMV
    Change in Technology
    • With the slow development of the internet by the early 21st Century the music industry had to adapt because the amount of CD sales was falling each year 
    • The 'product' is now bought online as a single song or album and exists only as an item on an I pod,mobile phone or computer
    •  However in August 2014, according to Nielsen SoundScan (USA sales and tracking system) 'even the digital side has been hit hard'
    •  Digital album sales are down by 11.7% according to 'Billboard' 
    • Illegal downloading has had a massive effect on digital sales lowering them constantly with the easy access to free music to technological devices at a standard quality
    •  The most newest way to access music which are, 'legal streaming sites' such as Spotify and Pandora which have eroded overall sales

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