This cut back is a direct sign it is possible, like the record and the 8 track, the CD format of music is on the way out. Have you looked around the music aisles of stores lately? I can’t remember the last time a friend told me the latest CD they had bought. Wal-Mart, who Rolling Stones has reported to be the country’s largest music retailer, receives less than two percent of its total profits from the sale of music. Downloading music has become the new, preferred format of music. What does this new trend mean for the music industry?
Personally, I feel there is nothing like buying a CD of your favorite band or artists and looking at the artwork and lyrics the band has put so much time into selecting. When you download songs, you lose a little of the experience. But, being a poor college student, downloading songs is what I rely on the most now. If the music industry is going to survive at all, they are going to have to adapt their way of signing artists and distributing their music. Bands are also going to have to change the way they are distributing their music. There has not been a better, more opportune time for small bands to be able to spread their music without the recognition of huge corporations. While it is great the internet has provided these opportunities, it has also forced music stores to only stock the top, well known artists. How will small bands ever break into the mark
et of chain retail stores?
“[Most of] the regional chains are gone. A lot of indie retailers are gone. The music industry put all their eggs in one basket, and that basket is walking away and abandoning the industry,” Rolling Stone quotes Don Van Cleave, the president of the Coalition of Independent Music Stores.
So, the CD is out. I am very interested to see how the music industry will try to control and still make money off of downloading songs.
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