Another year of plunging music sales has caused many thinking the unthinkable in the music industry. Due to piracy in the last decade in the music industry; experts agree that digital sales can top off at 5 billion this year. Which is half of what was expected for 2011, and a third of the whole music market. An analyst at Forrester Research said. “ Music’s first decade is behind us and what do we do?”.
However music executives say that is not the case. They say that there is hope. As long as they control piracy, which according to industry federation is the vast majority of downloads online. In numerous countries today, they are cracking down on illegal online downloads. Due to these crackdowns, experts say illegal downloaders will convert into consumers, and help flourish the music industry once again. Many countries are also contemplating whether to disconnect users that are illegally downloading. However while thousands of e-mails have been send out to suspected copyright cheaters. No disconnections have been enforced.
Countries around the world are taking strong actions to increase music sales. Many competitors towards iTunes are fading away. Nokia recently stated that they are giving free phones out with subscription, that include music free downloads. A British pay-TV broadband provider named SKY, recently canceled subscription for music services.
However while these drastic measures are taken for music sales. Experts say that the main source to fight piracy and redeem music sales is online. Putting stop to illegal downloads is the answer to save the music industry from drowning in its own pool.
Pfanner, Eric (2011). Music industry braces for the unthinkable. Yahoo Finance. Yahoo 2011.
http://finance.yahoo.com/news/Music-Industry-Braces-for-the-nytimes-310084089.html?x=0
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