Sunday, 30 July 2017

Music Industry:

Music Collection:

- Fore most of the 20th century record companies made money by selling a tangible product, e.g. a vinyl disc or a CD. Therefore, you owned music by having a disc collection.

Changing technology:

- With the increased use and developement of the internet, the music industry has had to adapt as CD sales are falling each year. The 'product' is now bought online as a single or an album and exists only as an item on an iPod, mobile phone or computer.

HMV Vs Itunes

- Chief executive Simon Fox said that within three years technology would become its single biggest product category ahead of both CD and DVD.

De-commodification:

-A commodification always depends for its status and its value on its relative scarcity; once the reproduction and distribution of that commodity becomes effectively free, then it necessarily loses that value and that status.

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