Paper Summary:

This paper considers the ways in which technology and innovation have challenged the music industry, with an economic perspective in mind, drawing on current articles and supports. In particular, it looks at the move from the LP to the CD and more recently, the innovation of MP3 technology which has forced the industry to make swift choices about marketing strategies. It evaluates the legal aspects of downloading free music from the internet and copyright violations through examples of lawsuits.

From the Paper:

"Even though bootlegged copies of popular albums had been available for decades, the poor quality of these products limited this impact on the music industry. But the emergence of the MP3 changed not only the way that consumers accessed product, but also the way that artists and their labels contemplated their business. The quality of the product offered by MP3 technology rivaled the CD market, leaving little room for consumer discretion in this regard."

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