The music industry is a vast and varied place. Over the years it has changed significantly a number of times. Now it is poised to change again and morph into directions most people can’t even fathom. If you want to begin to conjecture on the direction the music industry will be moving in the future, you should first learn from facts about the music industry.
During its history, the music business has changed a lot. It has, of course, always been a business with the primary aim of making money, but how the money is made constantly changes. During the Enlightenment musicians made their money through lessons and the support of wealthy patrons. The public would then attend subsidized concerts free of cost. That is definitely a little know fact about the music industry.
The next big player in the music industry was sheet music publishers. They would buy compositions and publish them for people to play in their homes. This fact about the music industry has changed a lot since the eighteenth and nineteenth centuries. Today, sheet music is still sold, but it makes up only a fraction of the industry.
Once the technology was in place, the next big money maker in the music business was recording companies. First RCA Records and their Victorla, but eventually there were many labels competing for revenue. Over the years the medium for selling recorded music has shifted from records to cassettes, to CDs, and finally to electronic downloadable music. Now, since electronic music is so easy to pirate, many people are wondering if labels are losing their place in the sun, in favor of live music organizers and performers. Once you review these facts about the music business you will have to come to your own conclusion about its future trajectory.
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