Consumption

With the introduction of the internet it opened new doors for different ways of consuming music. Nowadays there are digital streaming services such as Spotify, Apple Music and Pandora. Artists of any magnitude can put their music on these sites, even though they are not receiving enough compensation for their music, they know it can bring them more fans. The music industry has also shifted in terms giving fans the ability of just listening to an artist's singles instead of having to purchase their whole album. Illegal downloads have also impacted the industry a lot, and these websites came about and are spread through social media, which have large implications on the artists.

"Suddenly, people were buying less CDs and were increasingly buying digital albums instead, or even individual songs, which was a revelation at the time. And just like that, the CD all but went extinct". Tim Alan

Although CD sales have declined they have not completely become extinct. For example, there are still people who enjoy buying vinyl, so I think that there is a chance that CD's aren't going to disappear anytime soon. Bobby Owsinski in his article Three Reasons Why The CD Is Still Important, states three valid reasons that support my argument. First, he states that CDs provide a large income, even if sales have declined they do provide a significant profit. Second, just as people still buy vinyls there are still people who prefer CDs, therefore there is a target consumer. Finally, he states that physical copies are important in the music industry because digital releases are not taken seriously by critics and if a new artists wants be reviewed they need to have a physical copy.

The music industry has been largely impacted by social media due to the fact, it breaks down the invisible wall between them. According to SocialMediaWeek.com 83% of Americans use some sort of social media. And of these 83%, 67% follow some sort of musician or artist. That's an outreach of millions of followers who are kept in the loop. However it could also hurt them due to illegal downloads. But any way you look at it the impact of social media on the music industry is undeniable.