Global Journey Music Blog Sept 06

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Peter Samuels

14 September 2006

Turmoil in the music industry?!!

There is never a dull moment in the music industry and there is never any shortage of doom merchants predicting disaster for publishers or retailers or even musicians. Ever since the 1920's when there was a widespread consensus that the nascent radio channels would signal the end of the retail record industry, through to today's current assertation that downloads will, coincidentally, signal the end of the (high street) retail music industry there has been a plethora of spectacularly incorrect predictions by people within the industry with claims of great foresight.

Record

In the 70's we were told that audio cassettes would signal the death of vinyl records and yet 30 years later it is the "new" technology that has bitten the dust whilst Vinyl is still a viable option for both publishers and retailers. In the 80's a band called The Buggles were the first song/video played on the exciting new MTV channel and their rather catchy song "Video killed the radio star" was an indication of the zeitgeist at that time whereby television would surplant radio as the medium of choice for the young music loving audience. In the 90's we were told that CD's days were numbered and the future was mini-discs!! Now we are being told that downloading music is going to sound the death knell of both; the high street retailer and the compact disc. This may well be true in time, as the music industry evolves change happens but it will not be the advent of downloading that signals the CD's demise or that of the High Street
music retailer.

The simple fact is that in many cases a new medium can work with and even augment an existing media. Everyone remembers tha panic within the cinema industry when video recorders were launched, headlines pronounced the imminent demise of all cinemas and yet here we are now in 2006 with cinema audiences continuing to break all records, whilst the synergies that exist in the film industry ensure that video/dvd sales also flourish.

The music industry will continue to evolve at a considerable pace, and there will be casualties along the way, but as ever the industry is in rude health and there are exciting times ahead for those who can recognise the trends and not be diverted by speculation.

Peter.

MP3

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