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Music Industry

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Is the Music Industry Flourishing or Struggling?
Argument & Communication
Assignment 2
According to the article, “Having a ball; what’s working in music”, despite the fear that the music industry is at a loss through increased piracy, it is actually flourishing (Anonymous, 2010, para. 4). The article states “Between 1999 and 2009 concert-ticket sales in America tripled in value, from $1.5 billion to $4.6 billion” (Anonymous, 2010, para. 5) which indicates increased popularity of live concerts over the last decade. Other new avenues of revenue are merchandising, sponsorship, publishing, online streaming etc. Companies such as Bravado are doubling their revenue from selling brand merchandise at concerts as well as retail outlets (Anonymous, 2010, para.8). Senior artists are against punishing illegal file sharers as they believe that file sharing can be used to promote content. Popularity of other avenues such as digital sales and online streaming are quintessential in reducing piracy and thereby benefitting the music industry (Anonymous, 2010, para.19).
In contrast, article “IFPI music report dispels the myths surrounding piracy” cautions struggling days ahead for the music industry stating “Despite digital revenues growing by 1,000% in seven years, the value of the entire recorded music industry has dropped 31%” (Lindvall, 2011, para.1). It argues that increased revenues from live concerts can be attributed to a steep increase in ticket prices and not to the increase in volume of tickets sold (Lindvall, 2011, para.2). Revenue from brand merchandising is limited to renowned artists and cannot be considered for all artists alike (Lindvall, 2011, para.5). Music piracy is detrimental to the growth of new artists as declining sales shrink record companies’ budgets to invest in new artists. iTunes negatively affect the industry by allowing handpicking of tracks and this alone cannot stop piracy as it depends on the perceived social acceptability of piracy (iTunes won 't put an end to piracy, 2012, para.3).
References
Anonymous (2010, October 9). Having a ball; what’s working in music. The Economist, 397 (8703). Retrieved from ABI/Inform Complete & CBCA Reference & Current Events database. iTunes won’t put an end to piracy (2012, July 4). South China Morning Post. Retrieved from Lexis Nexis Academic Research database.Lindvall, H. (2011, January 20). IFPI music report dispels the myths surrounding piracy. The Guardian. Retrieved from http://www.theguardian.com/uk

References: Anonymous (2010, October 9). Having a ball; what’s working in music. The Economist, 397 (8703). Retrieved from ABI/Inform Complete & CBCA Reference & Current Events database. iTunes won’t put an end to piracy (2012, July 4). South China Morning Post. Retrieved from Lexis Nexis Academic Research database.Lindvall, H. (2011, January 20). IFPI music report dispels the myths surrounding piracy. The Guardian. Retrieved from http://www.theguardian.com/uk

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