THE MUSIC INDUSTRY – GLOBALIZING IN MANY WAYS
The music industry is in a time of growth at this very moment. The environment for its growth has been increasing rapidly on many geographical boundaries and has been established through information technology and Internet. In this paper I will analyze how the music industry not only has been affected by Globalization as an economic institution but also that it has become a worldwide-globalized commodity. First, I will begin by analyzing how the music industry, though its consumption is not a necessity, it is affected by large economic factors and has become a large Music Market. Furthermore I will analyze how the music market has globalizing tendencies for the consumers.
People get into their cars and listen to music, you walk into a shopping center and they are playing music; walk into a restaurant and they are playing music too, people listen to music in their work place as well. Runners listen to music as they exercise, you can even listen to music while you are sitting on the dentist chair. Everybody listens to music! Everywhere at anytime! Try to go on line and among other links on Travel, Stock Quotes, Sports or Entertainment, you’ll find a link on Music. There are so many companies that advertise music on line. Every day mass emails are sent that offer music on line. Did you know you can get 12 CDs for only one penny ? All you have to do is join one of the online music distributors : it doesn’t matter whether is BMG or Columbia House, the ‘package’ is the same. It doesn’t matter either if you are in the United States or not, they deliver internationally! Music is not a necessity but everybody is using it.
The production and consumption of music has become a market of its own that has been growing and getting stronger every single day. Many companies have found their fortune in the music industry and have become part of the globalization by entering the worldwide market and economy.
The following is a table of some Economics data of Popular Music in 1996
Netherlands United States United Kingdom
Revenues recordables, gross (US $) 660,100,000 12,297,700,000 2,709,800,000
Total Sales, recordables (pieces) 38,000,000 1,044,800,000 234,500,000
Sales Recordables, per capita (US...