EVOLUTION, OPPORTUNITIES AND CHALLENGES IN THE DIGITAL MUSIC INDUSTRY

By Idorenyin John EVOLUTION The music industry has undergone significant changes in recent years due to advancements in technology. From the way music is produced and distributed to the methods of promotion and consumption, technology has had a profound impact on every aspect of the industry. The music industry has come a long way since the days of vinyl records and cassette tapes and CDs. Vinyl records, with their analog quality and the ritual of carefully placing them on a turntable, offered a rich and special experience. Cassettes made music more portable, allowing users to create their own mixes, share them, and carry them around. CDs, in turn, introduced sharper sound quality, easier production, and greater durability. Everything changed with the arrival of the MP3 in the late 1990s. This compressed format allowed large amounts of music to be stored on small devices without significant quality loss. For the first time, you could carry your entire music collection in yo...