What problems are record labels facing?
Most industries have their struggles and the music industry is no anomaly. Record companies themselves have had more than their fair share of problems to face. However, since the arrival of the internet and high speed downloads that it brought with it, these have only worsened with illegal downloading. There was once a time when the act of music piracy was limited to the few and was defined by the industry slogan, ‘Home Taping is Killing Music’.
New technologies always brings new issues and the internet has brought audiences closer than ever to having a seemingly infinite ‘free’ library of music only a few clicks away, with record labels cautious of turning on the fan bases that also support their signees. Record labels, who were almost brought to their feet, have had to learn to appease both audiences and artists. They have had to determine how best to embrace the way audiences want to devour their music whilst still looking after their musicians.
More than a decade later record labels have survived and their role still remains, but online technology has evolved alongside these issues bringing new worries with them, as they always do. So what currently is the biggest problem that record labels are currently facing?
Music by Charlie Case