Free radio stations, peer to peer file sharing and Mp3's, has our new ability to listen to music for free online killed the music Industry?

 

Free radio stations, peer to peer file sharing and Mp3's all of these things play a major role in the struggle that the recording industry is facing. This has particularly affected the music industry this article will discuss these issues and how the music industry could challenge these issues and how they are currently challenging these issues.

 

Record sales are down year on year, music is freely available via peer to peer networks and online streaming the charge for CD's has increased and consumers don't want to pay. With the current issues facing the recording industry artist are still recording and performing it may be hard to break the big time but more artists are looking for a steady income and gaining it. Record companies need to adapt to these changing trends before its too late it takes on average 5 minutes to download 1 Mp3 music track. The average price for a CD is £14 for 14 tracks that's £1.00 per track at a £6.00 an hour job that's 10mins work for one music track or 5mins of there time they can achieve double at the same cost to themselves. This is the value there employers have put on to there time not themselves so you can see the incentive for peer to peer file sharing.

 

The way the RIAA deals with file sharing is by fining the individual. This just puts an exciting edge onto file sharing and makes people more secretive about file sharing. The Video media industry is facing very similar challenges. Companies need to embrace this new channel for viewers and listeners to consume media products. The first issue is the pricing structure needs to be changed is an Mp3 track really worth 99p? The average consumer would be more tempted by a 40p price tag or lower 20p a track, this is the equivalent to 2mins of there work time which seems much more reasonably and it is also under 50% of the time taken to download a music track via peer to peer networks.

 

On the other side of the issue listeners need to realise that peer to peer sharing will eventually end all manufactured music this could be seen as a good thing by consumers as an open network would allow musicians to reach their audience, but for the artists just trying to make a day to day earning from music could be a different story. This type of music would be of less quality as recording equipment and professionals need paying. So not only are you hurting the companies by peer to peer file sharing you are harming an entire industry that we all enjoy and could be destroying the quality of entertainment for the next generation.

 

The businesses producing media need to use these channels before it s too late and the smaller companies monopolise on the new markets emerging from digital technologies. Whatever strategies they employ whether it is add-ons for the existing strategies or completely new strategies these need to be implemented the cost involved is much lower then ever before capitalise on that factor.

 

by Phil Mitchell from - 3evdr listen to music @ http://radio.3rdeyeview.co.uk/html/ He also hosted a show featuring an unsigned artist Illknown on 3rdeyeview's free radio stations he set up http://3rdeyeview.co.uk to help unsigned artists promote themselves using the tools 3rdeyeview provides including free online radio.