-The "big four" music labels ((Sony Music Entertainment, Universal Music Group, Warner Music Group and EMI)) are quickly crumbling, as they struggle to solve their financial woes.
-Music artists are trying to adapt to the transformation of the industry.
-Professional music studios have become fewer, as artists can make cost effective quality sounding music at home with sound editing/recording software like Pro Tools,Logic,Reason, and Abelton Live
-Consumers are purchasing on a per song basis rather than by album.
-iTunes accounts for 70% of worldwide online digital music sales, making the service the largest legal music retailer.
Where is the music industry heading? Who will come out on top? Independent artists? Major record labels? Independent labels?
Here is a link to a very informative article posted on Gizmodo about the music industry's dilemma. Check it out.
copy/paste:
http://gizmodo.com/5481545/record-labels-change-or-die?skyline=true&s=i
Friday, March 12, 2010
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