Music Decline
Having a ball; what’s working in music
The music industry has not only undergone evolution; but revolution. Spanning multiple generations, it has transformed from spinning black discs to downloadable versions. Not only have the product and music styles changed over time; but also many of the artists’ focus. Artists of today sing a different tune when it comes to their livelihoods. However, regardless of dwindling purchasing song sales and concert tickets, the music industry remains alive through multiple revenue streams, hi-tech modes, and target marketing. Within the industry, musicians have become more business savvy. No longer being able to rely on sales from entire albums being sold, to survive, artists have become business smart in “not so much selling music, as using music to sell.”
Although the Internet is a friend when downloading music legitimately, and foe when illegally, exposure is usually beneficial for any artist. To offset possible piracy profit losses, musicians have learned to expand revenue streams. Licensing deals with companies, copyright contracts and usage fees from FM radio and TV advancements, as well as from playing their music in public venues are now all possible revenue sources. Capitalizing on more grandiose concerts focusing on showmanship has proven one of the most successful revenue means as concert tickets are sold at premium prices to devoted fans. Capturing a greater percentage share in concert sales, as well as through merchandise and memorabilia offerings, is also proving profitable. Lastly, royalties and publishing continue to prove to still be profitable. All this results now in the “real music” to the artists and industry moguls’ ears- the sound of cash dollars.
Distinct demographic trends have emerged. The older generation purchases full CDs and splurges for the expensive live concert performances. This same population base is also target marketed in the retail by having CDs available in mainstream
The music industry has not only undergone evolution; but revolution. Spanning multiple generations, it has transformed from spinning black discs to downloadable versions. Not only have the product and music styles changed over time; but also many of the artists’ focus. Artists of today sing a different tune when it comes to their livelihoods. However, regardless of dwindling purchasing song sales and concert tickets, the music industry remains alive through multiple revenue streams, hi-tech modes, and target marketing. Within the industry, musicians have become more business savvy. No longer being able to rely on sales from entire albums being sold, to survive, artists have become business smart in “not so much selling music, as using music to sell.”
Although the Internet is a friend when downloading music legitimately, and foe when illegally, exposure is usually beneficial for any artist. To offset possible piracy profit losses, musicians have learned to expand revenue streams. Licensing deals with companies, copyright contracts and usage fees from FM radio and TV advancements, as well as from playing their music in public venues are now all possible revenue sources. Capitalizing on more grandiose concerts focusing on showmanship has proven one of the most successful revenue means as concert tickets are sold at premium prices to devoted fans. Capturing a greater percentage share in concert sales, as well as through merchandise and memorabilia offerings, is also proving profitable. Lastly, royalties and publishing continue to prove to still be profitable. All this results now in the “real music” to the artists and industry moguls’ ears- the sound of cash dollars.
Distinct demographic trends have emerged. The older generation purchases full CDs and splurges for the expensive live concert performances. This same population base is also target marketed in the retail by having CDs available in mainstream
Bibliography: Having a Ball; what 's Working in Music. The Economist, Oct 09, 2010. 101, https://ezproxy.royalroads.ca/login?url=http://search.proquest.com/docview/757137799?accountid=8056 (accessed May 20, 2013).