Technological Advances Have Changed the Music Industry in a Way That Potentially Benefits Independent Musicians.
21 Pages Posted: 31 Mar 2018
Date Written: April 22, 2017
Technological advances in the music industry have changed the bargaining power independent musicians possess in contracts. This has taken two forms: independent musicians have obtained more bargaining power when negotiating contracts with major label record companies and they may no longer need to enter into a contract with a major label. This is due to social media giving artists access to consumers; recording and production costs diminishing; and music distribution becoming more accessible to independent artists. Although technology has provided musicians with more power and opportunities, an artist must make effective use of the technology to succeed.
Keywords: independent, artist, musician, contracts, bargaining power, contracts, negotiate, social media, music distribution, technology, shift in bargaining power
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