Debt in the Age of Downloads
As technology has improved, the music industry has changed in many different ways. In the past, you had to go out to a music store and buy a CD in order to hear your favorite artists. In today’s world, you can simply get on your computer or smartphone and download the latest single for a small fee. This phenomenon has completely altered the landscape of the music industry forever. Music labels and artists have had to adapt to this change in the best way that they know how.
The Age of Downloads
With the way that music and media files can easily be downloaded, this has changed the way that many artists look at the industry. In the past, many artists tried to create music based on an album concept. In today’s market, the album is basically dead with people being able to pick and choose the songs that they want to buy.
In addition to being able to pick and choose songs, many people don’t even pay for the music that they listen to anymore. With torrent sites, you can download free songs to your computer without the artist getting anything for it. There are also a number of different online streaming services that allow people to listen to the songs they want for free at any time.
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What’s Being Done
Because of these vast changes to the music industry, many entertainers and artists are changing the way that they distribute their content. For example, Radiohead has gone the independent route and actually given away their albums for free online. Louis C.K. tried another route by posting the video to one of his performances on his site available for download or stream for only $5 paid through PayPal. He also didn’t put any restrictions on the video or how you could watch it. While it was still pirated to a certain extent, it also sold quite a few units.
More artists are now going the independent route and taking on projects alone. Some of them have to go into debt in order to finance their projects, and then sell them directly to the consumer. Some artists have had to get creative to come up with the money they need to finance the projects. Some may have even used credit cards for people with low credit to get the money they need.
As a customer, you can find discounts on a lot of the content you want to enjoy when you buy straight from the provider. The landscape of the entertainment industry has changed, but the changes probably aren’t finished yet.
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