Did Apple Kill The Record Industry?
Since the inception of iTunes, record sales have dropped 50%. Major record stores like Borders and Tower Records have closed down and thousands of independent record stores have as well. The shift in technology was inevitable but the payout that iTunes gives the artist is ridiculous. This has forced artists into selling their albums on iTunes, where Apple takes around 30% and the record company keeps 60%, leaving the creator of the content with around 10% of its sales.
Below we have a chart that shows the change is sales within the past decade. This makes one think as to where the industry is heading. On one end, it is good for the simple fact that an artist can easily get their tunes out there. On the other hand it is killing the way artists earn more income. The diagram below shows the digital music revolution and how it has changed the industry within the past 15 years. Check it out and feel free to let us know what you personally think. Also, share this with your fellow musician friends!
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