The internet has had a gargantuan effect on the music industry, ultimately changing so many aspects of how its runs, works and actually distributes records. This change was never really predicted or adapted to quick enough. The whole concept effects record companies the most, they are the people who are worried especially the ones that appeal more to the younger markets, like those with rock bands. Nobody can even predict what the situation will be like even in five years time.
Record labels and their associations like the RIAA and BPI blamed the internet for basically beginning the destruction of the industry. It began with illegal peer to peer file sharing networks where people downloaded their music for free. Different organisations began to pursue excessive downloaders and prosecute them with large fines. There was false hope when they believed discouraging would halt the decline and reversal of record labels fortunes. The sales of CD's have decreased each year.
However an ultimatum came along which revived hope, with the rapid increase of the popularity of the MP3 and personal music players like the ipod, legal downloads have become more popular being led by Apple through their global online music store itunes, although there is other competition. None the less illegal downloads have decreased due to this.
Although this is all positive CD sales are still declining particularly within the rock music genre which once was the most successful selling genre. Legal music downloads are helping record labels the traditional models are still in decline. People no longer just buy albums they are more enticed to buy the separate songs alone which is another factor thats changing the industry and affecting the record labels. I believe some sort of system will sort the situation out sooner or later but for now its not working that well.
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