Alyssa Woods we live In a constantly changing world where we are finding ourselves having to adapt to new ways, trends, and products constantly. Within the past century, technology has been the major catalyst for changed and has made its mark In all industries. The music industry was birthed from the advances in technology and is constantly evolving and embracing changes In all aspects from how new talent Is scouted to the way In which music Is recorded.
One major change that has happened is the way In which music is strutted. The purpose of this paper is to identify and analyze some of the effects In which the innovation of the Internet, file sharing sites, and Illegal downloading has had on the music industry. The increased use of piracy has caused innovation within the music Industry and given birth to new Ideas and concepts – despite record labels’ constant hammering down on illegal downloading. Innovation creates many opportunities for potential entrepreneurs and companies to make more profit, as Innovation always leads to the need for more innovation.
While responding to innovation can be a tricky task. There is a long history of research and new ideas that Industries have had to develop in an effort to overcome a threatening new innovation. More specifically, the music Industry has had a long line of major changes in the development and reception of music, especially more recently with the heightened use of technology. Perhaps the starting of the popularity of downloading music from the internet occurred when the Motion Picture Expert Group developed standards for the signal compression of audio and video signals.
This standard was hen used In software made available to the general public, therefore marketing it without any effort. The MPH format is the standard format of audio files and allows files to be downsized to the point where they can easily be downloaded and shared over the internet (Easily, 2005). This innovation led to more innovation, with the development of websites such as Anapest which allow users to share music collections online. The development of file sharing online has certainly weakened profit margins at record labels.