| In this article we discuss the long and short term | | | | Legal music sharing, as it has evolved, has become |
| effects of the global economic recession on the music | | | | enough of a competitive service that it seems record |
| industry and how these changes have already | | | | labels, when they embrace the new technology rather |
| affected music sales | | | | than compulsively suing, have something to gain. |
| The economic recession which has, according to the | | | | Consumers who download pirated music always face |
| latest data, been ongoing for at least the last year, has | | | | the risk of viruses and other malicious software being |
| caused many consumers to cut back on spending. | | | | downloaded with the music. Digital music sales from |
| The United States, one of the strongest consumer | | | | legitimate sources are generally not only easier for |
| markets for entertainment products, has been hit | | | | consumers to use, but carry with them the assurance |
| particularly hard by the recession. | | | | of being from a source who has an interest in keeping |
| While new music continues to be marketed to the | | | | their customer base. |
| masses, the cutbacks in consumer activity are certain | | | | Heavy-handed tactics such as intimidation, electronic |
| to have an effect on the way consumers choose to | | | | anti-piracy devices and so forth seem to have done |
| spend their dollars and whether music will be as viable | | | | little. By 2007, when legitimate sales had become to be |
| a product as it has traditionally been. | | | | a measurable part of digital music sales, the companies |
| From 2004 to 2007, online music sales went from a | | | | had reached out to their consumers, offering products |
| non-factor in overall sales to an impressive 30 percent | | | | that were affordable, easy to use and packaged in |
| of all music sales in the US. The potential for online | | | | such a way that the consumer did not have to feel as |
| music sales to be a force is certainly there, but the | | | | if they were purchasing marketing materials as |
| music industry remains stifled by some stiff competition | | | | opposed to music. |
| that always offers its products at the best price: free. | | | | The recession is likely to hit all parts of the market. |
| Music piracy via online music sharing sites and | | | | Music, as it is easily distributed online, can be |
| software has long been blamed by the industry as the | | | | compressed to formats that allow fast downloads |
| cause for the majority of their woes with little regard | | | | while maintaining a high quality and, like everything in the |
| to what the infiltration of those services may tell the | | | | world, now moves and changes much faster than it |
| industry about their products. | | | | did in the past, is poised to be one of the products |
| New music is oftentimes very hard for consumers to | | | | consumers can afford without violating their restricted |
| come by. For many years, the music industry has | | | | budgets. |
| followed a model of cloning the latest trends and | | | | Moving from no measurable sales figures to 30 |
| releasing recordings of their very prepackaged artists | | | | percent of market share in 3 years would be |
| in vast waves of sameness that seem to no longer | | | | impressive for any product. For an entertainment |
| entice consumers. Online music, as it sometimes does | | | | product such as music in a time of economic |
| not go through the filtering and packaging process of | | | | recession, it shows that online music may now, more |
| major labels, tends to be riskier, more niche and more | | | | than ever, be the future of music entertainment. |
| geared toward the individuals who enjoy the genre in | | | | Thanks for reading, I hope the article was informative |
| question. | | | | and has helped you understand the potential effects |
| The proliferation of online music also begs the question | | | | that recession can have on music sales as well as |
| of whether the slick packaging relied upon by record | | | | how strong both the music industry and music lovers |
| companies to sell their products is really worth it to | | | | are when times get tough. For more information on |
| consumers. After all, online music is downloaded | | | | new music and new bands visit OOiZiT. |
| bare-bones, with no cover, inserts or artwork. | | | | |