2. Most of the 20th Century...
...Was spent listening to 8-Bit, Cassette, Vinyls and CDs.
Before the web, it was IMPOSSIBLE to own a single or an album without having a
tangible good.
Times are changing...
Now with the MP3 Player (the most famous being the iPod), music can be
bought online using the iTunes apple shop.
Music is now on-demand, and without the need to go to physical shops to buy
Your music (i.e. HMV), CD sales have been falling ever since.
3. Pirates are prevalent...
Pirating and illegal streaming now also consume the 21st Century. In 2009, 95%
of music was downloaded illegally.
...Or are they?
Pirate Bay, a popular torrent and illegal download site for many mediums
including music, were sued by the music industry.
The four creators of the website were faced with either going to prison, or having
to pay back a £2.5 million fine for the ‘theft’ of their music.
However, is it really theft?
4. Commodity Conundrum
The commodity of tangible goods like CDs depend on the status and relative
scarcity.
This could now by why vinyls have come back into fashion. Super fans of bands
and artists sell them so fans and products alike can have value.
Now that the reproduction and distribution of the commodity has become free, it
suffers a huge loss in value and status.
