Question

1. Explain the economics of the music industry in the 1970’s and explain the issues that confronted them.

2. 
   
   
   
   
   
   
   

3. What were the major technological innovations that were influences for American Popular Music.

Answer 1

The economics of the music industry in the 1970s or the pre-Internet music industry was largely based on the ability to control the physical distribution of the music in Vinyl records. The 70s were known as the golden era for vinyl records. Although they were affordable to everyone and everyone had a record player, it caused some people less access and music was limited. However, the shortage of vinyl records poses many challenges as indicated by the world shortage of vinyl in the early 1970s leading to the production of thin blendable long playing.

The major technological innovations that influence American Popular Music was digitization and the coming of the internet. The Internet changes the physical music distribution and made music companies take on the change. The coming of iTunes was a radical change for the music industry. It became the first online retailer and offered music catalogs from all the major music companies and led to the growth of Popular Music.