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How Has Social Media Affected Music Business in Recent Times

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Submitted By mparsons1991
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How has social media affected the Music Business in recent times?
Introduction
This report will discuss in relative brief; how social media, has affected music industry and the power of record labels. It will attempt to review the effects that social media has had on the music business; discuss the changing roles of record labels; and the methods in which the industry is trying to adapt in order to reap the highest potential benefit from this modern global digital landscape.
Audio Engineers are a group of people in an industry that has been subject to rigorous changes in recent years courtesy of the the digital age, the internet and social media. It is therefore important to understand the effects of social media, the changes in the music industry, and the possible solutions in order to attempt to forecast the future of the industry.
Technology since the turn of the millennium has advanced with great strides and in the future will most likely be perceived as the true beginning of the digital age. The digital age has undoubtedly advanced humanity in many aspects, including in music, but is not without its problems. Piracy is a major cause for concern in the music industry caused by a lack of control within the music distribution channels, particularly in the earlier stages of p2p file sharing. This was a time when the industry did not really know how to react to digital music downloads; to embrace or fight it. Regardless of legal issues and lawsuits still happening today in digital downloading, it is important to acknowledge that illegal downloads are still a big part of the music industry, a fact that all Audio Engineers should realise.
“IFPI estimates around 95 percent of tracks are downloaded without payment to copyright holders” (IFPI 2009)
It is generally perceived and noticeable by most of a certain age or intellect that the music industry

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