Looking at the impact that new media technology has had on society, there have been both positive and negative influences on the way they have effected traditional media institution. Traditional media is the communication and expression that have existed since before the advent of the new medium of the Internet. Industries that are generally considered part of the old media are broadcast and cable television, radio, movie and music studios, newspapers, magazines, books and most print publications.
The music industry has evolved with the introduction of new media such as the Internet, YouTube and Illegal Internet websites.The Internet has had a massive effect on the traditional media for the music industry, which has affected the sales and production of music. The Internet was made in 1991 and has recently come into the music industry in the past 10 years with sites such as pirate bay and programs like LimeWire. Pirate bay which was founded in 2003 is an illegal website which allows you to download songs and movies for free.
The website is still running because the website is based in Sweden which allows the laws of pirating software and music. The music industry has been hit hard by this affected. Each year the Music Industry loses an estimated 4. billion dollars.
Record companies lose eighty-five percent of recordings released don’t even generate enough revenue to cover their costs. Record companies depend heavily on the profitable fifteen percent of recordings to subsidize the less profitable types of music, to cover the costs of developing new artists, and to keep their businesses operational. But the positives are the rise of lesser-known artists may change the entire soundscape of the music industry, as many of these artists don’t concentrate on making music they know people will buy, but rather music they think is good.So putting their music on torrent sites and file sharing.
YouTube, one of the most used Internet sites in history was developed and launches. YouTube is a video-sharing website, created by three former PayPal employees in February 2005, on which users can upload, view and share videos. You tube has equally helped and impacted the music industry. When looking at how social media has impacted the music business, major changes in production and marketing were observed.
With regards to production, artists can choose to Justin Bieber, who got his start on YouTube before catching the eye of an industry insider and landing a deal.On the other hand, artists without representation can continue producing music on their own while using social media sites as a means of reaching fans and getting there name out helping the career grow. In May 2011, YouTube launched its own weekly chart, the YouTube 100, which aims to track the popularity of music videos on the site In 2013, the Billboard charts began including online streams in its Top 100 lists, allowing the popularity of YouTube videos to influence the position of a song in the charts. YouTube and Billboard held talks for nearly two years regarding the proposed changes.
Where other ad-supported, on-demand music services have failed or been driven under by lawsuits, free music thrives on YouTube in part because it can offset licensing costs with lucrative video advertisements but Producers and artists wont take there music off because it’s YouTube, and record labels cannot afford not to be there. Rather than pulling their music from the site, most of the major labels embraced it by creating a joint venture with YouTube were profit can be made from views because of YouTube’s Partner program which benefits producers and artists.This new media technology has helped the music industry grow and expand but there is also some impact that YouTube such as people can listen and watch video clips and songs for free even thou the music industry still makes some money its not close to what they would make selling cd and songs on iTunes. In conclusion, there have been both positive and negative influences the way new media technology has effected traditional media institutions.
My new technology is a big part of society and it will continue to impact large way in the future.