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media in the online age -music industry

Hannah Scarbrough

Rachel Bonnar

on 11 May 2010

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Transcript of media in the online age -music industry

How has Web 2.0
changed the music
industry? Key developments -
1982 - CDs made commercially avialable
2001 - Itunes available on MACS
2003 - itunes available on windows
2004 - UK official download chart was launched
2005 - digital sales were included in US charts
2006 - estimated 5 billion songs were swapped on peer-to-peer websites
2006 - 509 million were purchased online

digital music sales now generate around $2 billion in revenue
Audience pros
easily accessible
free illegal downloads
more choice
can share music
can make own content and share online Audience cons
No control over explicit content
no exclusivity
loose all music if computer breaks
could be charged with piracy if caught Companies - pros
more revenue from legal downloads
wider audiences
can become more well known
gives artist a platform to make their music known Companies - cons
loose money due to piracy
no exclusivity
more competition
Full transcript