Music is now easily and readily available on the internet, allowing users unprecedented and instant access to music from around the world. Cheaper internet access and vastly improved speeds for downloading and streaming content have made access to music more convenient and easier than ever. The record industry however is suffering, with rapidly declining CD sales as more and more consumers turn to the internet to access music and entertainment.
Music streaming sites allow users to search a catalogue and create and edit playlists to listen online. Apple allows users to purchase content through the iTunes store, and sites like Pirate Bay and uTorrent encourage file sharing between individuals. Meanwhile, radio stations are offering online streaming and podcasts, and new social music services such as Rdio, profiled in this article on digital media wire, offer access to a large volume of tracks on a subscription basis and allow users to follow their friends and discover new music.
With the advent of file sharing, there has been a huge increase in illegal downloads which the music industry has had little success in extinguishing. I think that record labels should aim for increased access to their catalogues online, at a pay per track or per album rate, that allows listeners to ethically download tracks. Often the barrier to purchasing CD’s either online or from record stores is ease of access, and I believe that many consumers would happily pay (at a reasonable price) for simple, quick and instant access to music online. In a study on why consumers turn to the internet for illegal downloads, news.com.au concluded that convenience was as much of a motivating factor as money for people who downloaded content illegally. Furthermore, the study, which involved 7324 participants (all who had downloaded material illegally in the past 12 months), showed that more than two-thirds of the respondents would be willing to pay for the same legal service if it were available.
The problem for the music industry has been its unwillingness to embrace change in the new age of internet consumerism. If they were to move towards a model where consumers could stream, download and share content online, record labels could be leading the way in engaging directly with their customers online, rather than focusing upon pursuing legal action against individuals who illegally access content. Record labels could win over consumers by allowing greater ease of access to content and encouraging consumers to engage in ethical sharing of content, and thereby undercutting the pirate music market.
The industry needs to evolve in order to ensure that a wide range of quality content and a stimulating music culture remains available for future generations.
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