Music trade

Digital music streaming websites have taken over the musical landscape. While
the digital music market is booming, both data and time have revealed that the current
system as it exists will not provide a sustainable future for creators of content or for
technology companies. Although some consumers are willing to pay for content they can access for free, many are still enjoying content without paying. Both the technology
companies and creators of content have sacrificed to meet consumer demands, but the
technology companies have been too willing to make creators of content be the ones
paying for ‘free.’ Recent legislative efforts have provided a good start to balancing a system that is clearly in distress, but there is still much be done to move the music industry forward. This paper examines the current issues facing the digital music streaming industry and several legislative and industry-prompted efforts in current discussion.

The use of new media technology which refers to digital, computerized, or networked information and communication technologies such as the Internet, mobile devices, gaming, and social networks, has come to define the music industry today, and it is this technology that has empowered independent artists in such a way that they are now free to pursue heights of success previously only available to major label artists. New media technology has affected the traditional business models of major labels, it has resulted in gross decline in recording costs, given birth to new channels of music marketing, and business models, and has created a new music clientele that requires instant gratification, personalization, and connectivity. In the face of such change, independent artists have been empowered and can access opportunities to distribute music independently, market and promote music effectively to niche markets, secure publishing deals, while building their own community of dedicated fans.

The physical sale of music and the effectiveness of traditional media are expected to continue to decline, challenging marketers to develop new methods to create awareness about music. Although music sales are declining, interest in music is healthy, and strongest amongst the American young adult market - between the ages 18-34. This marketing plan uses traditional and innovative techniques to capture the attention of the target market, which is more culturally diverse and technologically advanced than any previous demographic.