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Essay on the Music Industry

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Added on  2020-12-18

Essay on the Music Industry

   Added on 2020-12-18

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Music Industry Essay
Essay on the Music Industry_1
Table of ContentsINTRODUCTION...........................................................................................................................3MAIN BODY...................................................................................................................................3Impact of streaming music services on different area of music industry...............................3CONCLUSION................................................................................................................................7REFERENCES................................................................................................................................8
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INTRODUCTIONStreaming music is a type of approach that can be used in the music industry to increasethe business all over the world. This type of steaming music is basically used the services suchas Apple music, YouTube Music premium, Amazon prime / Music Unlimited etc. This essaywill discuss about the streaming music service on the different areas of music industry.Furthermore, it will describe that affect how the record label release and music market.Afterwards, this essay will describe that the financial condition impact on the music artist interms of competition and market value. However, Streaming music services are impacted on thetraditional download store because it is the modern technology to provide the best quality ofservice related video, audio etc. At last, This will discuss about the companies who are alreadybroke their deals with the other streaming. MAIN BODYImpact of streaming music services on different area of music industryStreaming music service is a process for accurately streaming the audio to deliver thesound and without requires for downloading files from the internet. There are different type ofstreaming music service such as Apple music, YouTube Music premium, Amazon prime / MusicUnlimited etc. These are the different service provided by companies to the customers. Peoplecan choose the music according to the need and requirement (Zhang and et.al., 2016). In today's music industry, Streaming service is working for majority of stakeholders. Inthis way, music industry has used the latest trends that help for gathering all necessaryinformation related the music values, level and trends. The new technologies and services arelikely to have impact on the business process of music industry (Gamble, Brennan and McAdam,2017). The revolution of music business is not a new customer facing format and visionaryproduct but it will create a financial multifaceted and their implications. It is important foracknowledge about the music streaming service that help for people to provide the facilityregarding music, videos etc. Sometimes, Streaming music service mainly impact on the newecosystem. It can be found that energy are sucking up by playing a music through the steamingservices. This type of music is maintained the dynamic changing and also protect the copyrightownership. Streaming music is the best medium to create a good relationship with the people. Italso making relations through the artists or other traditional intermediaries. Streaming musicservice helps for music industry to increase the digital revenue which cross 11% to $826m.
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Streaming music services impacts on the two different areas of music industry such as Revenuemanagement and digital distribution etc. Music industry can be used the streaming music services that help for business process toincrease the popularity and dominance. It also currently holds over the streaming global market.According to service, people can easily listen the music, video in proper manner. It alsoproviding the best quality of speed. Digital distribution is another area in the industry to use thestreaming service for providing the better quality of music to the customer. On the other hand,Music industry has gone through the different changes due to modern innovative technology. Ithas both positive and negative impact on the industry (Aguiar and Waldfogel, 2018). ForExample- Piracy has an issue in the music industry since the beginning. In this way, the originalmusic was available on CD's before release. One of the another form of Music piracy occurredwhen the customer would produce the recording of songs and sell on the tapes. Initially, CD hasbecome most popular format of audio files such as Music. Another second generation of musicpiracy. It has become music easier to acquire the music through free online medium. As a result,it led to increase in the piracy in music industry (Duanmu and et.al., 2017). NowadaysStreaming music services such as Spotify. It is the most popular streaming service that offers apremium along site a paid service. It provides the free subscription and allows for listen music.It has become the recent case of music piracy. It offers the free subscription that allows for userto listen the music. In this way, music industry has distributed facility by using Apple music andso on. There are many laws related the copyrights and payment of artist which have not updatedto deals with the Steaming music services. It is needed for music industry to manage thestructure that evolved in the century to facilitate the lawful exploitation of music and Spotifyrecording. In this way, Spotify music service is trying to compete with piracy. This type ofstreaming music service has been consistently attempting to combat the music piracy. Manycompanies are used the remix of old songs so that they provide the facility to customer whenthey can listen the music through Streaming music service such as Spotify. (Vonderau, 2019). Inthis way, many peoples are attracted towards steaming music. On the other hand, Streamingmusic service helped the industry to grow by the Double digits in 2017. This servicescontinuously increasing the business in UK and also increasing the revenue or profit rate. In2017, The revenue of music industry grew to $8.72 Billion. It is not the highest point but number
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