Since its early days, the Internet has been used by the music industry as a powerful marketing tool to promote artists and their products. Nevertheless, technology developments of the past ten years, and especially the ever-growing phenomenon of filesharing, have created the general impression that the Internet is responsible for a crisis within the industry, on the grounds that music piracy has become more serious than it has ever been. The purpose of this paper is to present the impact of new technologies and the Internet on the three main actors of the music industry: consumers, artists and record companies. It is claimed that the Internet has changed the way music is valued, and also, that it may have a direct effect on the quality of the music produced, as perceived by both artists and consumers alike.
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Publisher Info
Paper provided by Faculty of economics, Department of Economics in its series Working Papers with number
200826.
Length: 15 pages Date of creation: Jan 2008 Date of revision:
Jun 2008 Publication status: Published in Panoeconomicus, June 2008, pages 233-248 Handle: RePEc:voj:wpaper:200826
Find related papers by JEL classification: A10 - General Economics and Teaching - - General Economics - - - General C73 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Stochastic and Dynamic Games; Evolutionary Games D80 - Microeconomics - - Information, Knowledge, and Uncertainty - - - General O33 - Economic Development, Technological Change, and Growth - - Technological Change - - - Technological Change: Choices and Consequences; Diffusion Processes O34 - Economic Development, Technological Change, and Growth - - Technological Change - - - Intellectual Property Rights
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