Wednesday, March 11, 2015

Piracy! Its Effect On Music Industry Landscape

Though legal sales of recorded music continue to suffer from widespread music piracy, the popularity of live music appears to be enjoying an unprecedented boom. Licensing and live music are now the principal sources of revenue for musicians, not recorded music sales. Superstars through their 360 deals with their recording labels can generate 95% of the performance income from touring. It is hard to ignore that ticket prices have increased, particularly among superstar performers though opinion is divided on why. There are many questions that arise from seeing how the relationship between live music and recorded music has changed, where undoubtedly it seems that recorded music now drives sales of live music and not the other way around. This is something worth examining in detail, especially in how it relates to music piracy. in one study it has been observed that exposure to recorded music (whether acquired legally or illegally) motivates concert attendance. Yes! piracy has a negative effect on certain parts of the music industry but has its benefits when it comes to live music.It can be said that there is a direct relationship to the increase in ticket sales due to piracy in that the industry makes up for its losses in recorded music sales. The other variable is in ticket scalping which has had a great effect on the cost of seeing your favorite artist.  This secondary ticket market, largely facilitated by the internet, exploits fans' desire to see their favourite artists and the fact there are only limited tickets available for any given performance.


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