Looking at the impact that new media technology has had on society, there have been both positive and negative influences on the way they have effected traditional media institution. Traditional media is the communication and expression that have existed since before the advent of the new medium of the Internet. Industries that are generally considered part of the old media are broadcast and cable television, radio, movie and music studios, newspapers, magazines, books and most print publications. The music industry has evolved with the introduction of new media such as the Internet, YouTube and Illegal Internet websites.
The Internet has had a massive effect on the traditional media for the music industry, which has affected the sales and production of music. The Internet was made in 1991 and has recently come into the music industry in the past 10 years with sites such as pirate bay and programs like LimeWire. Pirate bay which was founded in 2003 is an illegal website which allows you to download songs and movies for free. The website is still running because the website is based in Sweden which allows the laws of pirating software and music. The music industry has been hit hard by this affected. Each year the Music Industry loses an estimated 4.2 billion dollars. Record companies lose eighty-five percent of recordings released don’t even generate enough revenue to cover their costs. Record companies depend heavily on the profitable fifteen percent of recordings to subsidize the less profitable types of music, to cover the costs of developing new artists, and to keep their businesses operational. But the positives are the rise of lesser-known artists may change the entire soundscape of the music industry, as many of these artists don’t concentrate on making music they know people will buy, but rather music they think is good. So putting their music on torrent sites and file sharing.
YouTube, one of the most used Internet sites in history was developed...
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