Ethics In The Music Industry

Significant, rapid revolutions have occurred in the music business industry; a basic artwork has taken to the digital world, and the range of the ‘Art’ is forming more variety with depths with digital technologies. Music streaming has become the primary engine behind increased revenues; the music has entered a new era that both the music industry and its consumers must accept. According to researcher SoundScan, some 164 billion songs were streamed in just the United States during 2014 via audio and video platforms. While the music industry looks radically different today, the perceptions of the record businesses and consumers have extremely changed during the past few years. The record businesses started to think about the connection between ‘making profits’ and ‘producing music’. The idea of making profits and producing music leads consumers to think about the ethics in the music industry and raises a question: “Is the ethics or the commerce the priority of the record music industry”?
By fulfilling the needs and wants of stakeholders, the music business industry can be developed in a proper direction. Generally, there are five types of stakeholders in the recorded music industry: consumers, entertainment businesses, artists, the government, and the pressure groups. Firstly, consumers have very high interests with relatively low power in the music business industry. They want more creative, ingenious music, while they also want those to be sold at affordable prices. If those two wants are satisfied, customers will definitely be interested in consuming in the recorded music