Exchange: Music Industry and Media Convergence Essay

Submitted By katyho
Words: 3775
Pages: 16

Implications of media convergence on Music Industry

Modern music has become popular because of the developments in the media. At the same time, people have more purchasing power and time to spend on radios, records and turntables in order to listen to the music of the time (BBC History, 2014). However, with the introduction of digital technology, the music industry has adopted the continuing and changing new audio and computing technologies in order to use the Internet as a tool to promote music. Music industry expands and adapts to absorb the new digital technologies. In doing so, the music industry is transformed themselves. This literature review will examine key readings that analyze the influence of the development of new media and its aspect of convergence which provide new platforms for consumers to get access to music. Firstly, the review will discuss the changes in the music industry and the possible impacts on the industry’s structure and its relationship with its consumers. It will specifically investigate how media convergence significantly transforms the structures of music industry and has formed new models for music industry. Lastly, it will evaluate the existing practices in the music industry and its corresponding changes in response to the dynamic conditions of today and in the future.

Dwyer (2010) explains that “media convergence is the process whereby new technologies are accommodated by existing media and communication industries and cultures”(pp.2). He adds to this by saying this technology in turn transforms the structure and culture of the media and communication industries. Fagerjord (2012) confirms Dwyer (2010)’s definition of media convergence but focuses on the mass media, he points out that mass media has become digital and the effects of this digitization is convergence which has been occurring within the media from the late 1970s (pp.188). In particular, old media technologies are replaced by powerful computer software which converged with distribution networks. These network are able to carry digital signals from diverse media platforms (Fagerjord, 2012, pp.188-189). Additionally, Adegoke(2004) elaborates a Deloitte technology media and telecoms consulting partner, Ed Shed’s explanation of the developments of the music industry that Media convergence transforms established music industry and enables new forms of contents to emerge which the traditional model and format of music has been replaced by digital technology (pp.6).

Molteni and Ordanini (2003) discover that the emergence of the use of the Internet has dramatically modified the production, distribution, and consumption of music industry since 1999. When many scholars forecast a collapse for the record companies, Alexander (2002) states that, “the established business model in the music industry may indeed have a relatively short life span” (pp.152). Meisel and Sullivan (2002) agree with Alexander (2002)’s statement of decline for the record companies and supply a point that the tradition way of broadcasting and promoting the records music on radio has lost their dominating power on revenues. Furthermore, Stevans and Sessions(2005) support Meisel and Sullivan’s claim with evidence of “structural change in the demand for recorded music” (pp.316). There are different explanations for the declined in record revenues in music industry during 2000s, Marshall (2013) summarizes the falling reason for the record sales was that the old tradition ways of releasing records required a high cost and complicated process for production, distribution and consumption which only big label companies could achieve the economies of scale and could be done efficiently (pp.63-64). Furthermore, Samuel (2001)’s criticism of the old tradition ways for consumers getting the music was too expensive and inflexible for them to buy a full-length CD for one to two great tracks and numerous filler material. Thus, Stevans and Sessions(2005) conclude their analysis