A New York Times article published yesterday (Jan 23rd), gave some interesting figures and information on current state of the Music Industry. Along with that, an exclamation that “…digital music has failed” (analyst, Mark Mulligan, Forrester Research). They base this on the fact that growth in digital sales increased only half as much as the year before and they (market analysts) feel like it may be as big as it’s going to get.
I understand the numbers and that they have way more information than I do, however, I don’t think they are looking at all the factors…Here are three that I think are the main factors…in order. One they covered but the other two seemed to be ignored all together.
1) As the older generations lose influence over today’s young consumers, I think legal digital consumption will increase.
For instance, the main demographic in these studies are (somewhere around) 12 -24 year olds. The problem is, half of that demographic is likely still on their parents’ money. Many of those parents don’t trust their credit card info being used online. In this case, the kids don’t have much of a choice but to steal their music since many of them don’t understand streaming.
2) As people understand the legalities of piracy and understand the legal options, sales will increase.
The other is the fact that services like LimeWire are easy to use. I mean, you search for a song and BAM, you have it. It’s brainless and free. Most of the people who use these services don’t have a clue how much it effects the industry. They truly don’t understand why it’s no different than getting a book from a public library or borrowing a CD or DVD from a friend. All they know is Itunes intimidates them (due to misconceptions) and all they want is a song that will play on any device.
3) Some people don’t care and never will.
This one is hard to identify; here’s why- People will act like they don’t care to cover up their lack of understanding. However, there are plenty who really just don’t care. You can’t reason with these people, either. The only thing you can do is take legal action or discontinue their access to the internet.
Music executives say Internet service providers hold the key to solving the piracy problems and helping the music companies recoup lost revenue. –New York Times
And this is true. Solutions lie in the rights of these heavy offenders being taken away. Period.
I think your first reason 1 is “dead-on.”
Glad you were able to see “The Town.” It may very well make my Top 10.
I saw “The Fighter” about 3 weeks ago…Both very well written flicks.