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Music Industry and Digital Technology - Essay Example
Author : naderwill
Pages 12 (3012 words)
This paper discusses the advent of the digital age with respect to the music industry. This particular industry has received the digital economy as a mixed blessing despite its tremendous potential for growth by wallowing in the digital culture. The paper explains why this is so, and proposes a challenge for the music business in the digital era.
In the year 1998 e-commerce was a relatively new experience in the business world. All the same, business to consumer online shopping totaled a massive 7.2 billion U.S. dollars, increasing by nearly three hundred percent in the course of a year (Muhammad 1999, 72).
The music industry has reaped the benefits of its online presence along with the entire digital economy. In particular, the music industry has been diligently selling physical products over the Internet as well as music downloads. All industry sectors in the digital age are enjoying the grace of computerization over traditional paperwork. In the music industry, the diffusion of digital music formats allows for the dematerialization and dispersal of music channels as far as music distribution is concerned (Jones 2002). The major music labels are facing heightened competition in the face of technological change. ...