Latin Music Industry

Paper Summary:

This paper highlights three types of technological advances that threaten to destroy the music industry. Of special focus is the Latin American music industry, which has been hardest hit by these advances. The paper points out that the need to address these problems, cited as music piracy, the availability of home digital recording equipment, and peer-to-peer file sharing on the Internet is critical, since it threatens the overall existence of that industry. The paper continues by giving specifics of the recording industry decline and by explaining why the Latin American music industry is particularly affected. Finally, the paper devotes some discussion on possible ways to approach the problem.

Specifics of the Recording Industry Decline
Fighting Music Piracy
Global Connections and the Motive Behind the Money
Offsetting the Power of Consumers to Burn Personal CD?s
Shutting Down Peer-to-Peer Networks or Turning Them into Revenue
Channels

From the Paper:

"According to Buckley (2000) while U.S. recording industry officials wring their hands over Napster, the worldwide black market for illicitly copied music is growing even faster. Sales of pirated music topped half a billion units last year and cost the music industry $5 billion in lost revenues. As of the turn of the 21st century, one in three CDs sold around the world last year were copies, churned out in pirate's hidden factories that can press up to 100,000 discs a day, according to the International Federation of Phonographic Industries. In Brazil, Latin America's music piracy leader, "40 percent of CDs and 99 percent of cassettes sold were illegal copies, a total value of $180 million," said IFPI. "In Mexico, the 1999 pirate music market was worth $70 million, or 40 percent of all music sold, the agency reported." (Buckley, 2000)"

More papers on Latin Music Industry:

• Essay # 29681 : "The Latin American Music Industry"
• Research Paper # 51104 : "Latin American Music Industry"
• Business Plan # 54393 : "Latin American Music"

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