No one can deny how much the internet has drastically effected the music industry as it constantly changes at a rapid rate. There are many “pros-and-cons” to sharing music on the internet, but one of the earliest issues the internet has made is the easy access to music sharing websites (Napster, BitTorrent, LimeWire) and file conversion websites (YouTube to MP3, Soundcloud to MP3) to illegally download music which has sparked the idea and creation of music-streaming websites (Spotify, TIDAL, Pandora) to be able to give artists the royalties they deserve. As for the benefits surrounding sharing music on the internet, it is easier for independent artists to create a global audience without the assistance of a music label, but it’s hard for artists to make music, in fact, it’s quite rare.
When artists release music, due to the internet it allows artists to connect with audiences all over the world. This is beneficial to the artists, as it gives the artist 100% free creative control and their profit isn’t shared if they were to have the backing of a label. It also gives free promotion, and in some cases, artists are discovered for their work, as I’m sure you’ve heard of many successful artists who got their start on YouTube, or more recently, Soundcloud. Examples of current artists who have made their success based off the internet is Lil Yachty and Chance the Rapper. In recent years, due to the many advances of the internet and technology, it has become quite easy to obtain music (at a cheaper price or for free a.k.a. stealing it by illegal download). But the business portion of the music industry has dealt with difficulty of making revenue just because of this technology. When music is illegally downloaded or stolen, no royalties are made and given to artists. Many income that is lost is made up by artists by touring. Many different solutions have been tried as music-streaming websites like Spotify or Apple Music charge users a certain price per month so artists will receive royalties for their monthly streaming. Today, this is only a small solution to the problem, and it is far from being resolved. So while the music industry has changed drastically due to the internet, there are many positives and negative effects. But without it, we wouldn’t have as many successful entrepreneurs as we do today.