Digital revolution in the music industry Research Paper

Digital revolution in the music industry - Research Paper Example Nevertheless, the digital revolution has posed several challenges especially on management in the music industry. This has been mainly due to piracy and illegal downloading of music. Ways to mitigate these challenges have been found, for example introduction of legitimate downloading services and lawsuits for illegal downloading of music. The music industry has also restructured its strategies and focused on developments such as involvement in advertisements, computer games, the television, films, as well as sale of ringtones, which are alternative revenue streams. Industries are basically concerned with the production of goods for mass consumption. Apart from production, industries today are also involved in marketing and distribution of most of their products, which include intangible goods and services. The term music industry has had numerous definitions, which make the meaning of the term unclear. Some definitions suggest that song writers, producers, musicians, music publishers, and record companies form the core of the definition of the music industry. At this point, live music is regarded to be part of the performing arts industry. According to Wikstrom, â€Å"the music industry consists of those companies concerned with developing musical content and personalities which can be communicated across multiple media† (2009, p. 49). The music industry however constitutes recording, publishing, and live performance. The music industry began with the commencement of mass distribution and commercial use of music. The industrialization of music began in the late nineteenth century, and was marked by â€Å"mass production and organized marketing of musical instruments and sheet music copies, plus the organization of professional musical entertainment in the theatre, vaudeville show, music hall or dance hall† (Horn, Laing, Oliver, & Wicke, 2003, p. 251). The second half of the nineteenth century was marked by great expansion in the