Recorded Music Industry

RMI

Radio

Transformative in how it changed the way people listened to music

People that tuned in could listen to national talent from the comfort of their own home

Took new music scenes, such as rock in the 50s to new heights of popularity.

Transformed the stigma of playing pre recorded music to the masses

Pre WW2, and Pre Tape era, playing recorded music was to say the least, frowned upon.

However, with advancements in the presentation of radio such as the top 40

And also the introduction of the TV in the 50s, Record labels back down

Piracy, Decline, and despair

"The first decade of the 2000s has brought nothing but bad news to the RMI"

"Saying that the industry is in a desperate down spiral would not be hyperbolic"

The emergence of the internet, and along with it websites such as Napster

Has caused the RMI to loose a staggering amount of revenue in under a decade.

"Revenues have declined from a peak of $14.6 billion in 1999 to $10.8
billion in 2008"

Hope

At the time this essay was written, effective counter measures to piracy were not in place

There was no incentive to buy music legitimately

There was Itunes, however it wasnt an effective streaming platform like Spotify, or Souncloud

However the alienation that consumers feel from the big 4 has had a lasting effect and the future is uncertain.

The Big Four

EMI, SONY, UNIVERSAL, WARNER

The main players in the RMI

History of alienating consumers and making enemies out of their prime customers

Customers dont connect to giant impersonal record companies

During the 70s an 80s bought out small independent record labels in an attempt to gain further market control

Further increased resenment from consumers

Led to a stagnant, short sighted industry that almost destroyed RM

INVESTMENT AND SHOT IN THE FOOT MENTALITY

During the late 90s and early 2000s, public opinion was incredibly low, and their law campaign against consumers who pirated music was wildly unpopular

Much like the massive movie studios of the 20th century, the RMI failed to acknowledge new mediums of technology

In the 50s attempted to bar radio stations from playing recorded music altogether

And then again in the 90s failed to support and invest in MTV and the emergence of TV being a major player in the sale of records

And finally with the emergence of the internet failed to invest/create a platform that could monetise p2p, streaming , and downloading of music

These continual failures to invest in new mediums of technology and distribution have only hurt the industry and alienated the consumer.