Music Industry

The 21st century is so advanced compared to previews decades. Several social changes during the new millennium, as well as technological advances have really impacted the music industry. These changes include the creation of digital technology, the higher acceptance of broadband Internet, and of course the decreasing price of hard drive space.

Album sales have decreased in sales drastically due to high competition from other entertainment media, as well as the decreasing costs of high-storage iPods or MP3 players, user-generated content, and file sharing. Also due to these factors, the overall cost of albums have decreased for consumers. Today is drastically different than the age of the "CD boom" from 1984-1995, a time were the music industry and record labels made a fortune off selling CDs, cassettes, and records. The digital age has has brought forth illegal P2P networks on the Internet, in which engage in copyright infringement. Sites such as Kazaa, Limewire, and Napster are some popular examples. The Internet also offers legitimate music sales, where you can buy a license for downloading songs. Such websites include iTunes and Wal-Mart or Online Games.

At the same time, however, the Internet has become a way for artists to increase their popularity, since consumers have more access to music or Farmerama onsumption. Artists like Taylor Swift, who is now a world famous country-pop singer, got her start on social network sites that allowed her to upload her music. Millions of people that came across her music loved it, and she eventually landed a record deal that went platinum. Swift is just one example of how the Internet can increase someone's chances of making it in the music industry in today's world. Artists who are already established can also benefit from the Internet, through blogging or writing to their fans.