Last year, in our AS media course, we learnt quite a lot about the Music Industry. There are four - now three - major record labels in the Music Industry; Sony, Warner Bros., Universal and EMI (not part of the big four). There are have been major competitions with the music labels, but I think the biggest success story has been of Apple's music app, iTunes. This has challenged the music industry by providing singles from artists albums, and selling them for cheaper - 60/79p each single. So instead of people buying an album with some of the songs they like for £7.99, minimum, they can pay for the songs they like for much cheaper. This has caused the profit of record labels to drop rapidly. However, record companies a new way to make money. They produce something called Digipaks, which include various things from the artists such as; posters, lyrics, album artwork, etc. For example Laura Marling, put a free concert ticket in her album. Kanya West also made a DigiPak;
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| Kanye West's Late Registration album/digipak |
These encourage people to buy their albums to receive these things, thus increasing profit for record companies.
We also learnt about illegal downloading, which also affected the record company profit downfall. No profit is gained through illegal downloading, as the artist doesn't receive anything as well. People post songs online, without asking permission from the artist or paying for it, allowing other people to download it, free of cost.
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