Let’s find out how the music industry has changed in terms of how they make their money. Whether it’s buying, downloading or streaming, music has always played a big role in our lives and therefore forms an enormous revenue source for the music industry.
How the music industry has changed
The evolution of music technology determines how we listen and buy music. How we pay for our favorite songs today is completely different from just 20 years ago. That’s why, let’s take a brief look at the history of music and in which ways the music industry gets a hold of our money.
Below is a brief summary of the major revenue streams throughout the last few decades. Nonetheless, for a neat animated graph and the exact amount of dollars, make sure to watch the entire video as well.
Physical media
Since it was the only way for people to obtain their beloved songs and artists, physical music has reigned supreme for decades. We can all still remember vinyls, cassettes and CDs. However, these media have become obsolete due to the rise of the internet.
Digital downloads
Once Internet entered our homes on a global scale, digital downloads became the new kid on the block. We could buy our favorite tunes with a simple button-click and saw the rise of iPods and MP3-players. However, nothing lasts forever and quite quickly, a new way of listening to music entered the scene.
Streaming
In the middle of the digital-downloads era, smart phones dropped in our pockets and 4G became available worldwide. This introduced another new way of listening to music which we all know and love today: streaming.
Physical media and digital downloads have been on a decline ever since. The convenience of on demand streaming is unparalleled. It seems that streaming is here to stay.
The future will tell, but if you still which to obtain a physical product or digital download, you can simply get my books in these popular formats. So, if you want to boost the quality of your music, just get one of my eBooks or Paperbacks. They have already helped thousands of people worldwide and they can do the same for you as well. Click here to get started: https://amazon.com/author/screechhouse