Business Report: Case Study of the Music Industry- Essay Solved

Business Report: Case Study of the Music Industry

(743 words)

I.             Introduction

The music industry has considerably gone to a monumental change in the recent years. It appears that as new technology comes to an additional notch, so does the market for music. Companies like Napster and Apple Inc have realized the potential of this new age of communication to create a new market for the music industry. These two are the primary players in the market of music downloads internationally. Other established online stores are following suit with starting to offer downloads per album or per song in its website. This report intends to provide a description on the potential market of music downloads.

II.           Present Conditions in the Music Industry

The emergence of the internet culture has prompted a considerable decline in the sales in the music sector. This part of the report will look into that issue and possibly find a way to put this to the advantage of the music stores like Aspiring Sounds.

A.  The Emergence of New Age Gadgets

The music industry, music stores essentially, have more problems to contend with on the part of its substitute products as compared to its actual competitors in the market. According to the study of  (2004) The music industry has considerably been lacking of any album releases that would be considered “blockbuster” on account of other media. These include computer games and free download from the internet. The latter has been considered the bane of music labels as well as music stores all over the world. (2005) Nonetheless, with legal actions against such companies like Napster for providing free distribution of music, the medium has considerably been regulated. Regrettably, free music downloads are still available for the public however this has similarly spawned a new commodity for the consumers. Companies have started launching portable mp3 players to the public which were widely accepted in return. Thus, this presents another available area for business for Aspiring Sounds.

B.  Possible Area of Business

The emergence of the portable mp3 player has presented a new lifestyle among the consumers of today.  (2005) refer to this as the iPod Phenomenon. Specifically, the wide distribution of Apple of its famous player has triggered other companies to launch their own brand of mp3 players. And as versions of the mp3 players constantly improve, it still leaves the fact that it is essentially a means of listening to records, albums, and music. In some cases, they use it for educational purposes. (2006) These have also triggered an upsurge in the use of other products aside from music. One such product is the audiobook. (2003) At any rate, the possibilities for the creation of additional market is far from being impossible considering the improvements in technology with the potential of customers cleaving to every development in this area.


III.         Potential for Music Downloads

It is now established that there is a possible market for music downloads. This part of the report will establish how the public will essentially react to such markets and how the Aspiring Sound would be able to exploit this potential.

A.  Attitude of the Consuming Public

It is undeniable that the world that works today is motivated by anything digital. This is similar to the context of music. Downloads has been a recent trend towards the consumers. The article of (2005) even pushed it as far as claiming that there is an actual demand for the service. The said article even noted that this is one of the reasons that Napster was exonerated of its anti-trust charges from the record companies.

B.  Possibilities for the Company

As stated in the case of Aspiring Sound, it is an established music store with eight stores under its management. It is thus recommended that the company expand its range by developing its own site. Specifically, the site will be primarily a music download site where the customers could access. In addition, the site could also serve as an ordering conduit for consumers who also intend to purchase original DVD copies of movies and other videos or even the specialist vinyl on which Aspiring Sound could facilitate.


IV.         Conclusion

The digital revolution has taken the public by storm. The presentation above has provided an indication on the potential for the market. The company merely needs to launch a website that will similarly quench the needs of the public on their digital needs. The suggestions indicate not only for the company to tap a new market, but also to expand its market by going international through its website.