Illegal downloading of music and its effects on the industry Research Paper

Illegal downloading of music and its effects on the industry - Research Paper Example This "Illegal downloading of music and its effects on the industry" essay describes how the invention of the Internet and the growth of illegal music downloading and file sharing changed music market. Despite being a lucrative business, on average, Verderber, Verderber and Sellnow highlight that musicians earn peanuts annually with no additional benefits. This irony emerges from the fact that some other people infringe or steal and distribute copyrighted music illegally thereby decreasing the music sales. In their argument, music companies state that free and unlimited downloading of music has led to the violation of their rights. These industries suffer lose not only in terms of money but also in effort and time. Apart from individuals, record stores also contribute to the menace of promoting illegal music download. The record stores benefit through selling ad space on their walls and gain profits. Such profits play a significant role of paying musicians for their work thereby reduc ing incurred expenses. Additional arguments by the music companies reveal that burnt CDs containing favorite songs by the consumers cost a great deal of money since each CD would only contain (a) particular song(s) (Essaylib para3). For the musicians, recording contracts include obtaining advances and loyalties from recording companies. Advances are provided to musicians prior to the recording releasing. In the case of the recording earning sufficient money, the recording company recovers its money for the advance paid out. Conversely, little music sales mean the recording company has to call off the loss. In order to avoid loses, recording companies are forced to offer lower advances to musicians and fire some of their employees to cut down costs like in BMG and Sony music. In terms of loyalties, artists are paid for each song