2 thoughts on “Technology Has Changed the Way We Value Music

  1. You might expect the consequence of widespread illegal downloading of music and paltry royalties from streaming to be the death of the music industry. After all, if the perceived value of music is less than the cost of creating it, then musicians should logically stop creating it. Yet paradoxically there is more music being made now than ever before. This is because the distribution costs are nearly zero.

    Something similar is happening in publishing. E-books are slashing the cost of buying books, yet more authors are publishing than ever before. The paradox is again explained by the removal of barriers to and costs of publishing. Self-publishing enables established authors to earn more royalties than the traditional route, and allows many authors to be published who previously could not be published at all.

    Self-employment and entrepreneurship are also growing in the UK. Imagine how they might explode if barriers to setting up a company could be removed.

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    1. Good point, yes, publishing is being radically changed by technology also. It’s fascinating, really. The traditional publishing houses are struggling to adapt whilst innovators come into the market and take advantage of their hesitancy. I remember being quite sceptical about e-readers, but I received a Kindle as a gift and now I wouldn’t want to be without it.

      Back on the subject of music, I think overall the Internet has had a positive effect on music as an art. I’ve discovered so many artists that I would never had done without the Internet acting as platform for sharing music. I’ve bought a lot of music after having downloaded it and realised I liked it. And I’ve seen how artists/bands/DJs can quickly build a fan base through youtube and social media, which otherwise would be a much more costly and time consuming task.

      Yes, I can imagine it must be so demoralising to have a great idea for a new business only to realise how many hoops you have to jump through to start your business. I guess many are put off by the cost and difficulty, which is a sad thought. At least with the Internet there’s no such barriers. Anyone can ‘open up’ a business and if enough people find value in it, then it becomes part of the web. The real world should be the same. Hopefully one day it will be.

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