Music Influences the ecomony
“We have the opportunity to create a personal jukebox in the house and car.” “This is the takeoff point for the music business” (“A Little Net Music”, 34). These statements by AOL Chief Executive Stephen M. Case reflect the latest trend in the music industry for the distribution of recorded music. Advances in technology now allow individuals to record their own digital copies of music, with its high fidelity, from numerous Internet web sites. In 1999 approximately 100,000 music downloads were officially recorded, by 2004 these downloads are projected to reach over 1.2 billion. The music industry is big business and its actions influence the nation’s Gross National Product (GNP). “Universal Music Group had revenues of $3.75 billion in 1999” (“Turning Traitor”, 32). “But that’s a fraction of the $40 billion that the recorded music industry racks up in sales” (“A Little Bit of Net Music”, 34). The cost of doing business in the music industry is very high and the music companies are trying to figure out new ways to get their products to consumers and for them to buy them. This trend in music (switching to Internet based systems) can influence the economy by changing the traditional methods of retail sales and increasing the com
. . .
Some common words found in the essay are:
Net Music, GNP CD, Getting Paid, Companies Lands, Napster Napster, America RIAA, Compact Disks, Peer Peer, Executive Stephen, Sam Goodys, music industry, music companies, copies music, retail outlets, business week, record companies, web site, net music, rocking music industry, particular piece, internet based, digital copies music, net music 34, little net music, industry music companies,
Approximate Word count = 1577
Approximate Pages = 6 (250 words per page double spaced)
|
