Challenges Facing the Music Industry

In: Film and Music

Submitted By maryajabeen
Words 2676
Pages 11
Challenges facing the Music Industry

As Albert Moran puts it, “film is an economic commodity as well as a cultural good” (Albert Moran, 1996) and therefore, the struggle to dominate the market for films and music has continued for such a long time. These cultural products because of the industrial processes they follow of production, distribution and consumption fall into the category of an industry and are immensely affected by the forces of the market. Distribution is the key factor in determining who would rule the industry as it forms the link between the production of the media goods and their exposure to the target audience.
Over the years the cultural industry has evolved imbibing newer technologies and making space for newer companies to make their mark. This process of evolution has been intercepted with changes in its economic and sociological structure owing to the external economic, social and political factors and also technological advancements. Ownership of the media forces to a great extent amounts to a huge control over the global economy and also means greater political and cultural power. Hesmondhalgh, in his book, The Cultural Industries, points out that there has been an "interweaving of change and continuity" in the cultural industry since the 1970s (Hesmondhalgh, 2007). However, this hasn’t ever been a smooth process for the older and established companies who had to face challenges from the new market players. The music industry had to grow from the sheet music days to the ipod culture. Also, with the music composer having direct access to the consumers via the internet, the existence of the music companies seems endangered. Same fate befalls the film industry where the established names are getting haunted by the emergence of newer distribution ways and the advent of small scale innovative filmmakers and distributors into the field of…...