Record sales are falling dramatically. These days an artist only needs to sell a few thousand records to make it to the apex of the charts. In the old days you required hundreds of thousands per week to make it into the top 10.
Now you just need a couple of thousand and it's not physical records, but more like downloads. Not all of them are legal neither. Downloading they are saying has rubbed out the music industry. But has it not put the control of the music back into the artist’s hands?
The music firms historically were the ones making the bulk of the money from the record sales. The artist could have gotten 2-5% of sale money. But they would need to pay their record production and tour costs out of this. That's the reason why the record corporations tied them to such lengthy contracts.
Prince famously modified his name and etched the words Slave on his face in the 1990′s when the launched a famous campaign against his recording contract. He was called the artist formerly known as Prince. He didn't give in and therefore his record company had to let me out of his contract.
Many recording artists feel they were at the beck and call of marketing managers rather than their creative impulses. Now the web lets bands and new artists put out their stuff and get noticed. Plenty of new Internet companies have launched online record labels. With a bit of SEO management their music stores can shortly be found.
The principle of the internet is you give something away to get something back. A lot of a band’s earnings now comes from touring. By offering special releases and record editions online a band can attract new proponents, and quickly fill the seats in concert venues. Touring also affords bands the power to sell touring merchandise which can often be quite profitable if not much more than record sales.
So that the balance of power is swinging back to the artist. The music industry isn’t dying, it's just changing with the times and technologies. The touring industry is now larger than before and fans have an increased hunger for seeing live bands.
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