The biggest posing threat to the recording companies is illegal pirating of music. According to the Institute for Policy Innovation, as a result of music piracy, the U.S. economy loses 71,060 jobs and $12.5 billion in total output annually. The current business model no longer favors recording companies. We are currently living in a digital world. The one problem the advancements in technology creates is that sharing music is easy as a click of a button. The “sharing” of music consists mostly of piracy and poses a threat to recording companies as well as artists themselves. Since peer-to-peer (p2p) file-sharing site Napster emerged in 1999, music sales in the U.S. have dropped 53 percent, from $14.6 billion to $7.0 billion in 2011. Also, from 2004 through 2009 alone, approximately 30 billion songs were illegally downloaded on file-sharing networks.
Pirating will always exist but recording companies have found ways to make it more difficult to do and is becoming less appealing. By creating a challenge in illegally downloading music, pirating will become less favored over the efficient and userfriendly streaming of music. Even though streaming does not provide you with ownership, it provides you with a selection of songs targeted to your liking, it is quick, and guarunteed better quality than illegal downloads.
Words from Kid Rock
Another issue is that old purchased CD’s are being thrown away instead of recycled. Majority of the CD’s being wasted are not albums but instead blank CD’s we use to burn songs onto. It is so easy to share songs with your friends with these blank CD’s. Every month approximately 100,000 pounds of CDs become obsolete. Some more sustainable alternatives to blank CD’s would be to purchase mp3 players, share files online, and purchase items such as auxiliary cords or bluetooth car features that connect to mp3 players to your car’s stereo system. Other resourceful options would be to increase CD life with proper use and cleaning as well as recycling unwanted CD’s. Recycling saves energy and raw materials.