The evolution of music online
The late ‘90s saw the sudden and rapid decline of recorded music revenue, coinciding with the evolutionary growth of use of the World Wide Web. Since then a number of sites have strived to improve the revenue. Whilst others have only continued to hinder any attempt to recover the ailing the industry’s revenue.
It has been a long journey for those continuing to figure out the perfect way in which to monetise the music they release that balances the needs of musicians, audiences, and record companies. However, as it stands, this is still far from being achieved in a way that pleases all. The desires of musicians and audiences grow further apart each day. More and more fans are demanding a seemingly infinite library of music. Whilst artists want to get paid for the work they are putting in.
From the early years of the internet, which saw fans illegally sending music to one another over peer-to-peer file sharing services. Moving on to online downloads which accounted for 55.5% of all sales in the UK in the first three months of 2012. And finally to the current trend in streaming services, with sites like Spotify. This timeline explores the changes that the industry and music distribution has gone through at breakneck speed online.