Free MP3 Downloading Causing Crisis and Fundamental Change Within Music Industry
CD’s are almost a thing of the past. With more & more people downloading and sharing MP3’s, both legally and illegaly, the music recording business is faced with a huge problem.
Technology has advanced far quicker than the Music Industry’s ability to change and keep a viable business model.
Downloading of MP3’s illegally has caused such a massive drop in sales, that the music business in general is at a loss to provide a solution, and thus is failing.
To suggest CD’s are almost redundant is not unreasonable. The marketing power and speed of the Internet now means users are aware of the product long before the record label is promoting it locally.
With the proliferation of broadband Internet, users can have almost any desired song in seconds (and if prepared to break the law, for free).
Personally I can’t see the music business trying to fight this type of technology for much longer. Already deals are being announced to allow users to legitimately download songs and for a fraction of the cost of a CD single.
Recording labels will have to start to offer subscription services, or small download fees per single in order to quell the huge amount of customers currently downloading for free.
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July 24th, 2007
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