Future of The Music Industry
The Future of Music The Future Record Industry Abstract Statistical methods are used in the business decision-making process. ... This application paper uses secondary data collected through research in an international reporting system used by the recording industry. ... This paper gages where the music industry has been in the past and where it is headed in the future. ... The three sections of DMT3 are Dance Music Television, an Internet television network, Dance Music Talent, a talent management company and Dance Music Traxx, a record label. Dance Music Television has captured over 100 hours of footage over the past five years. This footage contains performances by dancers, DJs, artists, and producers, events, interviews and other dance music related footage. ... Dance Music Talent has been pursuing a lot of talent over the years and in 2001, Dance Music Traxx (the record label) was able to release our first record. ... In the year 2001, Dance Music Traxx, also known as DMT3 Records, released two records by the same producer. ... 6) Where is the future of music headed and is DMT3 ready? Statement of Problem Background The vinyl record for most of the 20th Century was the dominant medium for purchasing recorded music. ... CD’s were not a guaranteed success in the marketplace until the majority of record companies agreed to make music available in this new format, which they were reluctant to do at first. ... Once the CD format was adopted, the record industry soon halted production of LP’s (Vinyl) on most new releases and began to capitalize on CD’s. ... DJs in the dance music community have become accustomed to 12-inch vinyl singles for their turntables. ... In its edition dated 28th of July, 2001, Music Week reported that “vinyl pressing plants were working at full capacity, with more orders flooding in. ... The 12-inch vinyl singles sales also grew, reflecting the importance of vinyl to dance and club music. ... In dance music however, singles remain the major format for artists. Technology has been central to the production, distribution, and absorption of music for over half a century. By the late 1990’s, various file compression techniques and increases in the overall speed of computer networking allowed the distribution of music (both legally and illegally) to become a mass occurrence.