The Music Industry Moves Online
By AdFeatures | Monday, April 30, 2012, 08:52
The music industry is one of the most powerful forces in global culture – major labels control the world’s most popular artists and make millions from it. Yet this force has gone through a tumultuous few years, and during the recession we’ve seen traditional outlets close as people move from the high street and start to buy CDs online.
The growth of online retail has been astounding across the board, but perhaps no more so than in regards to music. In 2010, iTunes sold a quarter of all music in the US, and that number has been mimicked in Britain and around the world as people turn to this much easier, cost-effective modes of stocking up their iPods. Of course digital music doesn’t provide anything tangible, so many customers are choosing to purchase CDs online which are then delivered to their door. This approach takes away all the hassle and means fans can still appreciate CD art and custom booklets.
The music industry’s move online is likely irreversible and record shops on the high street are destined to have a hard time in the coming years. Surely some will survive if they cater to niches, much like record stores do today, but that will be a minority.
This is not in itself a bad thing. Music isn’t about big stores, but rather expression and sharing something with the rest of the world. In that sense, the internet is the best thing that could have ever happened to the music industry as their audience has grown exponentially – this might be hard to see at the present moment as profit margins drop and pirated tracks become all too common, yet it is real. We can look forward to a future full of easily accessible and excellent music; it is a bright online world indeed.