Quote:
Originally Posted by Supz
The music industry has plenty of money behind it, and one thing they learned early is not to waste that money on trying to stop the pirating of songs, but expand the way they can make money. Sell on iTunes, Sell parts of the songs as ringtones etc...Any interview with a musician they all say the same thing. The money is not in the album sales. It is in the Tours. Musicians are like a Tube site. They put there music out there, to get bigger followings, they get endorsements, twitter followers, pay per tweet contract etc..it is a digital world. They have adjusted...and the internet has given them 10 new ways to make money after only taking away 1 way of making it..
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While they are opening up these new revenue streams they are still not making as much as they used to make. Today the music industry is a singles market, 15 years ago it was an album market. If you wanted a song you likely had to plunk down $15-$20 for the full CD, now you can spend 99cents and get it.
The biggest example of how the record industries are not thriving like they once did is the growth of the 360 contracts. Long ago I used to work for a record label and the label only made money from the music sales for that artists. Even the thought that a record label would get a piece of touring and merchandise and other things was almost unheard of. Now it is pretty common for new artists to sign deals that cover every aspect of their career so the label gets money from everything they do.