In the last decade, the face of the music industry has had the biggest makeover ever. There has been a drastic shift in the way music is produced and reproduced. Let’s understand the changes step by step.
Onset of the Internet and Digital Music Streaming Services
The emergence of the internet in the late 1990s led to mushrooming of various internet streaming services, of which music streaming was constantly growing. The media company like Youtube monetised the idea of online music, and since then there was no looking back.
The Bygone Era of Cassettes, CDS, and DVDs
Gone are the days when people used to drive to a music shop just to get their hands on their favorite album’s cassette, CD, or DVD. Today, music is available at the click of a button.
Digitalisation of the Music Industry
In a nutshell, the music industry has been digitalised with several significant consequences. If the truth were to be told, if it is good or bad for the musician is still quite arbitrary. There is a heated debate going on about the corporatization of the music industry, wherein several music artists feel cheated by the technological companies.
The revenue given to the artists at the end of the day by streaming platforms is next to nothing and therefore there is an increasing concern among the growing artists.
On the flip side of the argument, a piece of music on a streaming platform is eternal in its existence and so is the profit generated. We only have to wait for a certain time to pass by to reach the ultimate conclusion.
In the meantime, as listeners and audience, we should try to support the underdog — the lesser known independent artists whose taste in music is original and nothing in complying with the commercial music.