Crisis in the Music Industry

In today’s lesson as a class we read through a article about the current situation of the music industry. Whilst we were reading through we highlighted important things about the current situation. From this we can see any changes that may need to occur or things that need to be stopped. For example downloading free music is one of the major factors that affect the music industry as they produce no income from illegal downloads. These are the important parts that I highlighted:

· The music industry is changing rapidly

· Consequences are the development digital media formats which can be reproduced and distributed by anyone effectively cost free.

· The losers are the musicians and corporations

· De-commodification of music - No longer worth anything

· In the 19th century music could be bought and sold for profit.

· Commodity of the music becomes effectively free

· Try to sell musical commodities at a relative profit.