As the Internet use grows the music industry is becoming more aware of their lack of control of music sharing and the decrease in CD sales. Consumers are bypassing the store for a more convenient ways to purchase and share music. One of the main issues that companies have to deal with is piracy. Piracy will continue to be a problem because the industry is becoming more digital. Is it possible to control the sharing of music files or create software that tracks the sharing of music in order to continue to receive the profits? What does this mean for the industry? How can the Labels gain control over the Internet to ensure artists are receiving the full profit that is due to them? These are just a few questions that the industry are asking, and trying to figure out since the Internet has become the main source for everything. This will be an ongoing issue since these are issues are not ones that can be solved overnight.
According to the article like Business Week the industry is expected to loose 4% until 2013. They discuss the facts of how the digital market is effecting the music industry and how the industry is slow establishing ways to working better with the digital world in order to secure the full profit for the artist.
Artist such as Pharell discusses the changes that should have been when the Internet was still new and how this may have avoided a lot of the issues they have today.
In many minds it would seem that the industry is slow to fully grasp the digital world because of the control they loose or the profits they may loose. Pharell also points out that many may not be as rushed to make certain changes because they have the money that others are working so hard to get.
While others see the industry fighting against something that is going to happen whether they want it to or not. By fighting the digital movement it is causing more damage not only to the artist, but also to the companies themselves. I don't believe there will ever be a full proof way to collect all profits in the digital world but by not finding some form, program, or method to receive profits on the ones that can be tracked subscribed, or logged, it will cause more artist to do more on their own.