Thursday, 20 May 2010

Change of music industry due to internet.

"And I absolutely listen to more music than I used to," says the 23-year-old. "I pretty much have music playing all the time. It's because I can access so much of it, however I want."

The music industry has a new Internet problem. A decade ago, the major record labels began to worry about online piracy, in which people illegally swapped music over peer-to-peer networks like Napster (BBY) and later LimeWire. Partly in response to the piracy threat and partly due to sliding CD sales, music companies began to experiment with licensing their records to new online services.

sites allow music fans to spend much less money than in the past. "Most of this is substitutional. People go to [the Web] instead of buying records," says Jay Rosenthal, senior vice-president and general counsel for the National Music Publisher.
The new world of music looks very different from the old. With the new Web, services' listeners don't put CDs into a stereo or download tunes to their iPod. Instead, their music sits on a server somewhere else, waiting to be played from a computer or any other Net-connected device

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