Summary of what we have learnt about the music industry in 2012

In our morning lessons with Dan we learnt that the music industry sales were down 7% in the Uk and 10% in the US and the music industry has roughly halved in size since 2000 where albums could sell 10million copies. record and Cd shops that used to make the most off selling albums and singles went into administration for exampple; Woolworths & Zavvi has caused problems for HMV that still exist as a retail store out of the three. Only Band Like Take That can sell large quantity of CD's because they have a older audience that dont download songs online. Radiohead had a smart idea with there honesty box approach. There are also subscription site where you join and donate money to carry on your subscription to and all-you-can-listen-to service. This site is called spotify. Ellie Goulding also got sponsorship from nike to remix her album to encourageselected fans to run with her in different cities. These days Artists have to promote themselves on youtube in order to to sell tickets for tours.