Business-of-Music

How Is the Business of Music Going to Develop in the Future?

The business of music has changed tremendously, mainly due to the advent of digital technology. It is vital that people who want to be involved in this business to understand this. When you learn about a music business degree at MI, you will quickly find that there is a strong emphasis on digital technology as well.

The music industry is a business at the end of the day, and that means it is all about making money. How that money is made, however, has changed tremendously. Once upon a time, it was all about selling albums and merchandise. Today, however, it is about looking at how it can be synched to documentaries and indie movies, creating an optimized website where your fans can find out about you, and attracting your fans to social media, including Facebook, YouTube, and ReverbNation. So what are some of the key things you have to learn about?

1. Music Law

First of all, you have to learn about the various laws that are involved in music. That includes publishing and mechanical royalties and copyright law. Also, you have to understand the impact of the law on modern music and how you can make music. This includes things like YouTube licenses, synching, and more. Copyright usage is of particular interest in this.

2. History

The music industry has changed a lot over recent years, and it is important to understand the history of that. Depending on which degree you follow, this could go as far back as Mozart and his impact, ending with issues such as Napster and the strengths and weaknesses of digital sharing. This links strongly back to music law as well, as the way music becomes distributed is strongly linked to law.

Another key issue within both music history and music law is the issue of ‘rebels’. There were the pirate radio channels, for instance, and the fight between established record labels and Gronkster, the impact of fans, and more. You will also look at huge mistakes, like the rootkit experiment by Sony, and how they completely failed at getting into the digital era. Basically, what you will take away from this is that the harder someone can climb, the harder someone can fall, and that the less attention you pay to the future, the more likely it is that you will fall.

Essentially, you will learn about the lingo, the law, and the history of the music business. However, there are other key issues to look into as well. This includes things such as using YouTube to go viral, how to maximize the impact of social media, and how to create a buzz with bloggers, who are the journalists of today. Of course, you will also learn about music itself, of course, how to become a musician and how to find them, and how to reach an audience. Last but not least, you will learn about some of the music greats and their personal stories.

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