Digitization and the Music Industry

The rise of the digital era has forever changed the way that music is consumed, produced, and distributed. Record companies, which had previously acted as the primary agents of distribution in the music industry, have become all but obsolete in an increasingly digital world. With so much of today’s music available online, it is harder than ever for these companies to regulate sales. But where record companies might be losing power, artists now have more power than ever. Artists can finally be completely in control of their own production and distribution, and are no longer forced to act through a third-party institution. Because of this, even though album sales are declining, artists are actually making more of a profit. This article examines the subject through a case study on Radiohead’s revolutionary “name your price” methodology, in which customers are allowed to download an album for a price of their choosing. 

http://rb101182.hubpages.com/hub/From-Disc-to-Digital-Music-Industry-Business-Practices-in-the-21st-Century