The Lightning Rod Of The Music Industry Essay

1353 Words Oct 13th, 2014 6 Pages
Today’s society is Independent and Lazy; they prefer to choose “convenience” to anything else. It all used to be so simple. People would hear a tune on the radio they liked and buy the physical version of it. However, in recent years this simple process has fragmented into different consumption movements, such as piracy and illegally downloading to on-demand streaming from YouTube. Due to people choosing these free methods, the majority of music consumption today creates little to no money for music artists. Music streaming services have become very popular and services such as Pandora and Spotify have assembled millions of users across the globe. Due to the decline in download revenues, streaming is expected to be the main growth driver of the music industry in the upcoming years. Pandora and Spotify are the most popular streaming services and their revenue growth reflects the growing acceptance of paying for streamed music, offering music fans a legal and paid service capable of earning the royalties that the artists deserve.

Piracy is the lightning rod of the music industry. The arrival of broadband has enabled music file sharing on a wider scale. It is now easier than ever before to download music without paying for it and burn it to a CD or to transfer it to a portable digital music device. Illegally downloading music has had a significant impact on the media industry, which has resulted in a loss of profits and jobs. In 1999, a free online file sharing service,…

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