Monday, 17 March 2014

Demise of the music industry


This article by the guardian writes about the common perception that the sales of the music industry are falling due to illegal downloads, and that this is not actually the case and the music industry is a 'success story' of the recession.

It says: "Last year sales of singles soared to an all-time record of 152.7m units, an astonishing 33% rise in a year when the whole economy (GDP) contracted by 3.3%. If the music pundits seriously think that these are not being bought by kids, then it shows how out of touch they are with their customers. These same youngsters who were – and probably still are – massively downloading free music from the internet were prepared to pay up to £3 a pop for an insipid ringtone"

They use the bottled water industry as a comparison "the bottled water industry should have been their model. It got away with charging us lots of money for a product that was no better than free tapwater through clever marketing."

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