The online revolution has proved as damaging to independent labels as to multinational companies. How far do you agree?
The online revolution in my eyes has been a great success for independent labels. It allows less well known artists to become more well known. Multinational companies have an endless supply of money which goes into promoting their new artist, independent labels however do not.
A great example of how the online revolution supports independent companies are the Artic Monkeys. They would not have become as successful as they are today without the help of social network site such as myspace. By allow fans to listen and download their tracks was the best idea possible. If an artist is not known by many people why would people want to pay for this music? By allowing the listner to sample the music and sharing with friends means that the artist will become more popular amongst a greater amount of people. By joining an independent label fans still knew that the Arctic Monkey's would still be creating the music that everybody loved as they wont have the pressures of producing something that sells to a mass audience.
I believe it is a much better option to start with an independent label and make your way up through social network sites because it allows fans to feel connected and part of the band. It is a lot more personal than a band appearing from no where then hearing them everyday on the radio and knowing nothing about the band. The Internet allows a more personal connection with artist. It also means that artists with a niche appeal can Target these people on a wider scale where as if they were on the radio not many people would be inclined to buy their music however if they have the opportunity to promote to these people specifically it leads to a much greater profit.
As well as being a positive the online revolution also brings some negatives. Many people are now using the Internet to access music illegally. There is no harm in websites such as spotify as you can listen to artists music for free but you cannot download it which means the music cannot be passed around. The problem arises when people use software such as Napster and Limewire to download music for free, by doing this the artist is not gaining any profit on tracks and reduces the amount of people buying their music. I believe that this will effect the independent labels more than the big 4 as there is less money in these labels anyway and the artist rely on this money to help pay for producers etc unlike companies like EMI who include this in an artists contact.