Music Industry
The music industry has changed dramatically over the last 10years.
Production (Process of making music and recording it to a sufficient standard so that it can be sold):
10 years ago
People would use a full studio
Now
People are able to use home computer programmes which can be downloaded
Distribution (How this music gets to people and how they know about it)
10 years ago
Billboard posters
Music Channels
Radio
Now
Posted online
Music channels
Radio
Bluetooth
Social networking sites
Exchange (What changes hands between the people who own the music, and its audience in reward for the chance to listen to it)
10years ago
Exchange of money for cds/ records
Now
The music industry need a diverse number of strategies because of of the number of illegal downloads.
Facts from Guardian article;
The music business (as represented by major record labels) is in serious financial trouble. Sales down by 7% last year in the UK and down 10% in the USA the world's largest market.Two out of Four music majors, Sony and Warner music admitted their sales where down 10% and 14% respectively.
The music industry has roughly halved since the last days of the CD- fuelled peak. The hope was that one day digital sales would pick up the growth as CD sales levelled off. In the US, download sales growth has all but stalled, posting just 1% growth throughout all of 2010.
Not only is it just small record shops that are in trouble- the fall of Woolworths and Zavvi has been followed by problems for HMV, which has said to it would have been forced to close 60 stores.
Robbie Williams, Take that are the very few that can still sell a large number of CDs.
"Now in a business where over a Quarter of sales are digital we need a much broader combination of ways to make money" -Tony BPI
Strategies taken for the music industry to boost sales;
Facts from Guardian article;
The music business (as represented by major record labels) is in serious financial trouble. Sales down by 7% last year in the UK and down 10% in the USA the world's largest market.Two out of Four music majors, Sony and Warner music admitted their sales where down 10% and 14% respectively.
The music industry has roughly halved since the last days of the CD- fuelled peak. The hope was that one day digital sales would pick up the growth as CD sales levelled off. In the US, download sales growth has all but stalled, posting just 1% growth throughout all of 2010.
Not only is it just small record shops that are in trouble- the fall of Woolworths and Zavvi has been followed by problems for HMV, which has said to it would have been forced to close 60 stores.
Robbie Williams, Take that are the very few that can still sell a large number of CDs.
"Now in a business where over a Quarter of sales are digital we need a much broader combination of ways to make money" -Tony BPI
Strategies taken for the music industry to boost sales;
- Radiohead -" Honesty box"
- Special edition albums selling for £33
- Ellie Goulding hooked up with Nike, and invited a small number of fans though Facebook to run with her in seven different cities on her UK tour.
- Merchandising - Billy Bragg..." I've got six different types of T-shirts that i sell for £20 a time when you add in postage. I have to say I sometimes wonder what business I'm in"
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