P2P Networks
The music industry received expected but dismal news this week as new reports emerged that global music sales have fallen by 1.5 billion USD over the past year. The music industry has continued to watch their sales fall and a great deal of this fact can be blamed on piracy because with internet music available for free everywhere a great deal of people pass by legal websites to ‘purchase’ music for nothing.
Piracy has been a problem for the music industry because the record labels did not take immediate action to protect themselves waiting too long to start enforcing piracy laws at which point they became the enemy instead of the wronged party.
As a result, many people who would normally be considered law abiding citizens do not think twice about downloading music files and it is hard for the music industry to enforce the laws putting them in a position that is hard to overcome.
With this thought in mind it is hard to believe that the global music industry will ever start to recover because even with plenty of legal ways to purchase music millions of people are still choosing the free outlets.
Again a zero-depth perspective of the problem. Artist loyalty has waned as so many artists come and go in the blink of an eye. The most famous pop stars simply regurgitate the same old formulaic music. Also, the huge profits of the nineties that all this is being compared to were due to the over-inflated profits on CD sales who’s margins were vastly greater than with cassette or vinyl and motivated people to repurchase back-catalog albums on the new format, which won’t happen again.