We saw in the last 6 months that the music industry has not been badly affected by the global financial crisis. Some say it is recession-proof or that the recession has been helpful to them while there are a few reports that confirm that the record industry does suffer but not as much as others who had no choice but to make mass redundancies. What is really going on?
It is well known that the major labels dictate their signed artists and use them as pawns in their profit machine. Most of the album sales (around 80-90%) go to the labels and the musicians receive a small percentage of the royalties. Music and the show business dominate the modern entertainment and lifestyle. We don?t need a strong economy to make people follow their favorite artists. Given the high prices of the CDs, which is very negative while the market suffers and helps only the piracy, more events and more concerts can be organized by the major labels, more aggressive promotions can be launched and larger percentages of the artist’s earnings can be with held by the labels. The labels have several ways to cover their financial loss. Under these circumstances, the artists have to pay the price and particularly the new starters who are not very competitive and have no other option except to follow their labels. Continue reading »
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As announced in a recent BBC article, Prince has agreed to release his latest album Lotus Flow3r via US retail chain Target. Prince, known for his activism for the protection of the musician?s copyright, chooses to price his album at $11.98 only. And he is not the only one; both AC/DC and Bruce Springsteen have also distributed an album via Wal-Mart, ignoring the record labels.
Artists here make their point clear: this is their way of showing their dislike of the labels? policies and against music piracy as well. They are actually pioneers towards a change of status regarding the domination of the music business by record companies.
CD prices can become more affordable, music piracy can be tackled and a larger percentage of the profit can go where it actually belongs, to the artist. But we shouldn?t misinterpret Prince. Giving out his album Planet Earth for free in the UK with The Mail On Sunday newspaper is not an invitation for free (and of course illegal) downloading. The greedy labels? policies
Posted: 8 March 2009. Continue reading »
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What is “bad music”? Have you heard anything interesting in music from 2000 and on? What happens in the music industry of the 21st century? In order to examine how the music industry works today we will compare it with the music of the 60s, 70s and 80s after reviewing the modern society of the Western World. Music is the art of harmonic sounds as a way of expression.
Music, as a cultural achievement shows a huge development in the human history to date, therefore it could be considered as one of the most important methods of social communication. To people in many cultures, music is a part of their way of life.
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