Dying Traditional Music Industry – Summary Paragraph

People, whether it be the audience’s, record labels or artists themselves, have to recognise that the traditional music industry is no longer functioning properly for a number of reasons. These reasons stretch from generation C and their enthusiasm for convergence technology, accompanied by their need for audience interaction. To the lack of record label essentiality and the unpopularity of their business model approach to music. With the constantly growing popularity of the global village and web 2.0 services, active audiences are now downloading, remixing and redistributing artists music via social media sites like Facebook, Twitter and Youtube. Many see this as cross-platform marketing and a great way to distribute while others, such as the big 3, believe it to be wrong and discourage it through copyright claims. However, audiences enjoy this approach to the music industry and will continue to do it regardless. Hence the traditional music industry approach dying out and record labels becoming irrelevant. As a result of this issue, lots of artists have remained independent or DIY artists. One of these artists is known as Dub Fx who does all his own promotion, production and even branding. He, like many, many other artists does live performances on top of this, and for good reason. Through performing live, almost any mainstream artist can make up to £3 million after one performance via ticket prices. This amount of money is equivalent to 2.7 Billion Spotify streams. This point concludes one of the reasons for the fall of tradition in the music industry while also leading into the next, streaming. Streaming is not a profitable way for artists to share their music if they don’t have a constantly growing fan base. This is because it takes up to 4 million streams to receive revenue equivalent to a monthly minimum wage. As a result, Taylor Swift, Jay Z and a number of other artists saw streaming as threatening to their income and began taking measures to protect their music. Taylor Swift took her album ‘1989’ off of Spotify and copyrighted the lyrics, meaning fans could not have them printed on any kind of clothing or accessory. This meant her fans had to purchase the album, resulting in 1.2 million sales in the first week. Jay Z however took a different approach and started his own streaming service named ‘Tidal’ with the intention of allowing artists more control over their music distribution. These two examples are hard evidence of the descent of traditional music industry influence as audiences and artists take control of their own production, distribution, sharing and redistribution through convergence technology and synergising with one another.

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About ollimills

I am an avid film fan and amateur editer studying Film and Television L3 Media at South Devon College.
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