Music Influences the ecomony essays

Music Influences the ecomony essays We have the opportunity to create a personal jukebox in the house and car. This is the takeoff point for the music business (A Little Net Music, 34). These statements by AOL Chief Executive Stephen M. Case reflect the latest trend in the music industry for the distribution of recorded music. Advances in technology now allow individuals to record their own digital copies of music, with its high fidelity, from numerous Internet web sites. In 1999 approximately 100,000 music downloads were officially recorded, by 2004 these downloads are projected to reach over 1.2 billion. The music industry is big business and its actions influence the nations Gross National Product (GNP). Universal Music Group had revenues of $3.75 billion in 1999 (Turning Traitor, 32). But thats a fraction of the $40 billion that the recorded music industry racks up in sales (A Little Bit of Net Music, 34). The cost of doing business in the music industry is very high and the music companies are trying to figu re out new ways to get their products to consumers and for them to buy them. This trend in music (switching to Internet based systems) can influence the economy by changing the traditional methods of retail sales and increasing the companys sales and profit and by exploring new methods of distributing its products to consumers. The music industry maintains its control over the music it distributes by the use of copyright laws. These laws allow the originator (or owner) of the music (also books, pictures and movies) to control its release and reproduction. People and companies that want to reproduce or use the music must pay a fee to the owner of the music. When the most common way to own a copy of a particular piece of music was a vinyl record, the music industry was not overtly concerned about unlawful duplication of its products. Improvements in tec...