Tuesday, December 6, 2011

The Future of Record Labels

Today I will be presenting on the future of record labels. Record Labels are responsible for a large portion of the global music sales but are beginning to struggle with growth and profitability in an era of advancing technology. Music fans are not putting money directly into corporate pockets like they used to. Advancements in technology like iTunes, Independent labels, and several mediums of digital downloads ( legal and nonlegal ) have brought a decline in the Record industry but a massive rise in the music industry. Record labels are now looking into innovative ways to keep up with technology to maintain necessity and relevance.
My argument is that the rise of advanced and accessible technology has brought an incline in the music industry and a decline in the record label industry. The two are different entities that work under the same umbrella category of entertainment, so are often misunderstood or just used interchangeably. In my presentation, I clearly define and separate the two as different jobs within the industry. I also expand on the increase in independent labels. Independent labels are privately owned and operated smaller labels that take advantage of the convergence of telecomm, media, and computer technologies made readily available to us. Once musicians and other artists realized the capabilities and accessibility's they have to all of the same technologies as a major record label, independent labels and music production began to flourish, causing the demise of the major record labels.
My presentation goes into detail how the digital music evolution has played a significant role is my main argument and I conclude with how record labels must play in the game of the indie labels in order to maintain relevance and necessity. They will need to use tactics like game shows, and push the fact that they do still have the resources to reach major connections internationally with a little more accreditation.

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