MusicDish e-Journal - February 23, 2018
MusicDish Advertising Network
» HOME » INSIDER SCOOP » CAREER TIPS » MUSIC SPOTLIGHT » MUSICDISH*CHINA
» INDUSTRY INTERVIEWS » NEWS BEAT » DIGITAL SKOOL » OPEN REVIEW » MUSICDISH EDELWEISS
Search MusicDish e-Journal (Advanced)
Subscribe To MusicDish e-Journal
About | Contact | Advertise | RSS | Submit Article | Submit News | Artist Development | Premium PR Distribution
Mi2N | MusicDish*China | MusicDish Network | MusicDishTV | Urban Music News Network

Retail Music Industry Battles Extinction
By Mi2N
(more articles from this author)
2006-03-31
Comment | Email | Print | RSS

In a period of lackluster sales, illegal downloading isn't the only factor affecting the depressed music industry. Disgruntled consumers have contributed significantly to the decline in retail music sales. Retail music sales, valued at $12.5 billion in 2005, are predicted to fall to $10.5 billion by 2010, according to a recent Mintel report. The major labels have been quick to blame consumers, but slow to listen to their needs.

"The growing distance between the music industry and its consumer is due to a number of factors," said Justin De Santis, analyst for Mintel. "These include lawsuits against individual consumers, payola practices, and, most recently, restrictive use of digital rights management."

Music labels have a negative stigma to overcome, brought on by battles against illegal downloaders, radio "pay-for-play" scandals and homogeneous artist offerings on radio stations. The introduction of iTunes and similar sites has slowed the decay of music retail sales, but it has not stopped it. Even though technology is starting to work for the industry rather than against it, labels still face the challenge of meeting the demands of a diverse consumer marketplace.

In an effort to keep up with the digital marketplace, industry leaders have marketed artists to sell single songs rather than complete albums. This new marketing strategy has contributed to the lack of strong up-and-coming musical talent in the marketplace that exhibit "staying power," such as legendary iconic artists like Prince, the Beatles, or U2.

While illegal downloading has hurt the industry, big labels have relied on obsolete strategies for over a decade and have been late in exploiting emerging technologies. As a result, the bond between independent artists and their fans have become stronger. Although the music industry is just starting to use digital distribution to its advantage, overall sales will continue to decline unless companies learn to adapt more quickly to changing technologies.

According to De Santis, "The current renaissance of underground media has further driven the consumer away from the major labels and has contributed to the downturn in their sales."

Related News from Mi2N:
» Retail Music Industry Battles Extinction


Home » News Beat » Retail Music Industry Battles Extinction
Permalink:http://www.musicdish.com/mag/?id=10977
Email |Print |Comment |RSS

back | top


MusicDish Advertising Network

News Beat

» ICE and Facebook Reach Multi-Territory Music Licensing Agreement

» B-Reel Named Top 10 Most Innovative Company in Music by Fast Company

» VNUE Inc. To Acquire Music Rights Startup Soundstr

» Viberate & Imogen Heap Strive To Give Equal Opportunity To Every Artist

» Mixcloud Taps Gracenote for Advanced Music Recognition

News Beat Directory



» [2018-02-21] Briony Turner And Alec Boateng Promoted To Co-Heads Of A&R, Atlantic Records UK; Turner And Boateng Will Oversee The Atlantic A&R Team, Joint Projects, As Well As Maintaining Their Own Artist Rosters

» [2018-02-21] ICE And Facebook Reach Multi-Territory Music Licensing Agreement; New Deal Will See Songwriters And Composers Remunerated

» [2018-02-20] B-Reel Named Top 10 Most Innovative Company In Music By Fast Company; Global Creative Agency Receives Honor For Its Award-Winning Gorillaz Campaign

» [2018-02-18] YG PLUS And Gracenote To Bring K-POP To Fans Around The World; Gracenote And YG PLUS To Make All K-POP Music More Searchable And Discoverable On Global And Regional Streaming Music Platforms And Services

» [2018-02-17] VNUE Inc. To Acquire Music Rights Startup Soundstr; VNUE Acquisition Aims To Ensure A Fairer Royalty System

» [2018-02-17] Is Podcasting The New Radio?; 25% Of Surveyed Americans Say They've Listened To A Podcast In The Past Month, Up From Less Than 10% In 2008

» [2018-02-01] Insomniac Announces Inaugural Electric Daisy Carnival China Set To Debut In Shanghai; China Marks EDC's Second Location On The Asian Continent

» [2018-02-01] Viberate & Imogen Heap Strive To Give Equal Opportunity To Every Artist; Heap's Main Role In Viberate's Advisory Team Will Be To Help Further Guide Us Toward A Second To None Service For The Live Music Segment

» [2018-01-22] Italian Independent Music Collective Fil1993 Group Signs With MusicDish*China; MusicDish*China Will Be Developing Their Online Presence And Social Media In China As Well As Releasing Their Catalogue To Chinese Streaming Music Services

» [2017-12-25] MusicDish*China Presents 'Savage Guitarist' Todd Clouser In Beijing; As Part Of His #YouTheBrave Asia Tour That Includes 8 Shows Across Japan, Todd Will Be Giving Solo Shows At Laifu Livehouse On 12/27 And Temple Bar On 12/28

» [2017-12-20] Mixcloud Taps Gracenote For Advanced Music Recognition; Next-generation Audio Fingerprinting Helps Mixcloud Identify And Catalog Copyrighted Music Within User-generated Content

» [2017-12-18] Copyright Royalty Board Increases Sirius XM Royalty Rate; Judges Announce Royalty Rates And Terms For Satellite Audio Radio Services (SDARS) And Preexisting Subscription Services
MusicDish Advertising Network

follow MusicDish on
Follow MusicDish on Twitter

Mi2N Music PR

Hybrid Studios Hosts Annual NAMM Afterparty

High Definition Music Card - The New Way To Experience Music!

DEATH BY MISADVENTURE, New True Mystery Podcast Launches 31st January 2018

Music And Kids Joins Forces With Carnie Wilson, With Plans To Provide One-on-One After-School Music Education To Thousands Of Middle And High School Students

Don Dawil's Valentine's Day Debut Latin Single "Necesito Verte"

Taking Applications - The 23rd Annual USA Songwriting Competition

The International Music Consulting Firm GINGIO Hosts Events At NAMM And Grammy Weeks



Websites: Mi2N | MusicDish*China | MusicDish Network | MusicDishTV | Urban Music News Network
Services: Submit Article | Submit News | Submit Video | Artist Development | Premium PR Distribution

Copyright © 1997-2018 MusicDish LLC., all rights reserved.
About MusicDish e-Journal | Contact Us | Advertise | RSS | Internships