People used to buy a record, tape or CD to listen to music. Now a days you can hear songs all over the radio, TV, find them on the internet (such as on YouTube) or download them off website for your ipod. Why buy a CD when you didn't listen to half the songs on it and it costs you money, when you could just download any song you feel like listening to off the internet? Labels lose out on lots of money as illegal websites allow you to download songs for free. Also places, like Itunes, sell them cheaply, for example, 79p.
I think the online revolution has damaged independent labels, such as Domino, slightly more than multinational labels, such as UMG. This is because they rely on a more traditional structure of making money. By using other companies to handle the other aspects of the production, such as the marketing and promotion, they just focus on the song writing and music sales. However multinational companies and don't just get money through song writing and publishing but through many things such as:
- Promoting and marketing
- Recording
- Having one of their songs in a film
- Songs featured in an advert.
- In a mobile deal
- Having a radio deal
- Selling hardware
A multinational company is much more likely to have one of their artists make a sound track for a film as they:
- Have more money
- Better reputation for their music
- Music would be more suited as bigger companies have more genres of music to offer
- Artists are international so liked everywhere
- Have many contacts unlike a independent label
Not only has the online revolution made it harder to earn money but it is damaging other things. For example we used to buy a CD and get all kinds of things inside as well as the music, such as the booklet of lyrics and images of the artist. But now we can just looking on the internet and find all of that for free. We no longer want or need the CDs and we know longer get excited about when an album comes out in a shop as it is on the internet weeks before that.
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