Can the Music Industry Change Its Tune?

Can the Music Industry Change Its Tune?

1.) Apply the value chain and competitive forces models to the music recording industry.

The recording industry has been in need of an overhaul for quite some time. The executives had lost touch with the consumers that were keeping their companies afloat. I personally feel that the ability to purchase and download music online has been the best thing that could happen to the music industry. Just a few of the benefits to online music are, free samples, buy individual songs, and you can shop anytime. When it comes down to it, there will always be a need for the traditional way to purchase music and the technologically advanced online purchase. Even in today’s day and age there are still people out there that do not own computers and do not feel comfortable giving out there info online. How often do you purchase a CD and like every song on it? I would have to say, not very often. That is why I like having the ability to purchase whichever songs I want and whenever I want.

2.) What role did the Internet play in changing value propositions and the competitive environment? To what extent had it been responsible for declining CD sales?

The Internet played a huge part in changing the way people get their music. The Internet has opened a whole new world for people to explore. I don’t think the record companies are hurting that bad. Yes there are declining CD sales, but downloads are on the rise and they are getting a piece of the action. All the lawsuits have lead people to begin purchasing their music from reputable companies like Apple and Yahoo. One thing to take into consideration