The Music Industry
Over the last 20 years we have seen many changes in the music industry, first it was CD’s wiping out cassettes and over the last 10 years we have seen CD’s starting to die out because of MP3 players and digital music downloads. The music industry has been good about embracing the legal side of digital music and you can easily find anything you want in MP3 format so you can purchase right online and download full albums right to your computer and onto your MP3 player. Much like video stores we have been seeing record stores closing down their physical locations and many have gone out of business altogether, trying to find a record store nowadays is becoming increasingly more difficult and soon there will be none left except smaller niche stores that cater to people that still enjoy vinyl and other older formats. One of the bigger problems the music industry faces are the pirated copies of albums that millions of people take advantage of. 90% of the time full albums are available on piracy websites months before the albums are actually released, and torrent sites are among the most popular for this type of activity. It is illegal and they are trying to crack down on it but it happens so often and so many do it that it is extremely hard for them to wipe out completely. There are bands and labels that do embrace that though, and they focus on making money by touring and selling their merchandise while on tour. The band Radiohead is a perfect example, they have given their last couple of albums away for free but many people chose to donate money to them so they still made millions off of the albums. - See more at: http://www.businessinsurance.org/5-businesses-that-technology-has-dramatically-changed/#sthash.mLSDlQk8.dpuf