By Athena Butler
When it comes to recorded music, today’s consumers enjoy a free ride and seem to have all the answers. Song sharing is there for the taking and, in any case, the old music sales model is archaic. But if out with the old and in with the new is stylish in music, the same is not true of music recordings.
For the business, it seems, free is good. However, the decline of recorded music sales has been catastrophic since 2001, when piracy became rampant and the single song Apple economy banished the album. Now, hope for the sector requires a giant leap of faith. In the meantime, the tough job of finding new ways to compensate for this loss of profits falls to the record companies. It may appear that artists are gaining more exposure as music changes hands often and easily. But is the moneymaking of old within the reach of the business?
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Entries in recording industry (2)
By Athena Butler
After publishing Why You Should Give Your Music Away for Free here on Music Think Tank, I have been inundated with articles, comments, and other assorted replies decrying that the new digital music business models are killing the music industry. It got me thinking about a crucial distinction that is being overlooked, and the consequences of doing so are preventing many from seeing the opportunities that are abound. It boils down to one main concept.
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(Updated November 2, 2013)