Let's start our #GlobalEChats on #music!

Among our #discussion topics: 1. #Stakeholders in music and what happens to them? 2. #Production of music 3. #Consumption of music 4. New #technology out there!

https://twitter.com/entrepenenture/status/1037294301191987201

Firstly, let's talk about how scary #technology and #advancement can be to #music.

Some stats:
The US lost $12.5 billion a year in total sales due to pirated music.

71k jobs were lost; $2.7bn in annual earnings; $1.1bn of that would have been earned by the industry.

Source:

sheffieldav.com/education/how-…

But as with any #tech #disruption, there are always negative externalities.

In the #music industry, most of the bad press came from #piracy. Sites like Napster and P2P torrenting were rampant back in the day.

So who are the #stakeholders to the #music industry?

1. Musicians! As #Producers of music themselves.

2. The #Industry (labels, engineers, distributors, etc)

3. #consumers of music (That's us!)

So firstly, the #artiste and #musicians themselves are affected by #tech in #music.

Some of the ways their craft is permanently changed are:

1. Creation of music is now at a much higher quality, even without professional equipment.

2. They are able to edit and correct mistakes

For them, #MIDI is a gamechanger. It allows them to edit and correct musical mistakes and shortens #production time due to these errors.

And not forgetting the #internet too, of course. The Internet and @YouTube has allowed just about anyone to reach out to the masses.

The biggest losers of the #music industry is arguably the record labels.

Previously, they are the rule makers and own the right to the music itself. But gone are those days with the birth of @kobalt and the likes.

Kobalt allows musicians to retain #rights to their music.

And for us consumers? Well, the biggest change that #tech has brought to us is the way we consume music itself.

From only live shows to #vinyl to CDs and now in form of #digital music.

Today, we no longer purchase and store CDs. Everything is on #CloudComputing and on-demand!

But one subtle progress (or not?) that we #consumers benefit from is the birth of new #genres!

From K-Pop to Electronica, we have a wider range of musical genres to listen to!

As for the existing genres? Their production and restoration are in constantly improving #quality!

So when we talk about how #tech has changed the #music industry, we should think beyond just the transition from CDs to @SpotifyMY.

But no technology can come close to musical legends, of course. So to answer the poll yesterday, NATURAL TALENT FTW!!!!

Sources:

ronaldshannonjackson.com/how-has-techno…

therealmusician.com/how-technology…