Although MP3 piracy may not be causing great losses to the music industry at present, there's no denying the fact that MP3 piracy will continue to grow at an unbelievable rate. The industry must do something, or else everybody will lose. The less the artists profit from their music production, the less incentive they will have to continue on in the industry. Similarly, if the record companies are forced to downsize when retail sales begin to fall dramatically, they won't be able to promote new artists - we'll still lose out.
On the other hand, some analysts say that as recorded music loses much of its value as it competes with free MP3s, live performances will become the new "hot commodity." More than half a century ago, the radio and the telephone were miracles to be witnessed; now, we simply take them for granted. Likewise, the privilege of listening to a group's prerecorded music will become so cheap and easy that people will no longer think of it as a privilege at all. People will instead gain respect for seeing and hearing these world-famous artists in person. It remains to be seen whether this will come true - but it doesn't seem that far-fetched, either.
In the near future, MP3s will render CDs obsolete just as CDs completely replaced tapes - except that this time around, the impact will be far, far greater.
MP3 piracy will devastate the world of music more powerfully than any other innovation we've seen in the past. As MP3s make stores and record companies unnecessary, these stores and record companies will have to fight for their lives - thanks to MP3 piracy, we'll never need to buy music again! Music piracy is here to stay, so sit back, relax, and enjoy the ride.
Although MP3 piracy may not be causing great losses to the music industry at present, there's no denying the fact that MP3 piracy will continue to grow at an unbelievable rate. The industry must do something, or else everybody will lose. The less the artists profit from their music production, the less incentive they will have to continue on in the industry. Similarly, if the record companies are forced to downsize when retail sales begin to fall dramatically, they won't be able to promote new artists - we'll still lose out.