The recession is hitting the music industry hard. This video is fantastic because it says everything that I’ve been saying in my last few blogs.

Even in a recession people will pay to see a concert. $40 American to see British reggae group UB40. The concert sold out. The band believes that the way to make a living is to perform live. No longer can you become a billionare from selling millions of records.
Record sales are down even if concert sales are up. A lot of people choose to legally download their music as opposed to buying CDs because it is cheaper to download music.

UB40 believe people enjoy going to concerts because it takes your mind off real life and the recession for an hour or 2.
They say that last year they sold 60 million records but really the number would be about 100 million if the illegal downloads were counted. This explains why a $40 concert ticket for them, is more profitable than selling records. 40 million people just ’stole’ their record anyway.

It’s interesting how downloading is both benefitting and disadvantaging the music industry. Legal downloads which are cheap and easy are popular at the moment and are a good alternative to buying CD’s.
Where as illegal downloading which is also popular means that artists don’t get almost half as many sales as they previously would.

As much fun as concerts are though, almost $300 to attend one (all things added up) may not be a smart idea in a recession and as a student.
Hard choices.

“Music – that’s been my education. There’s not a day that goes by that I take it for granted.” – Billie Joe Armstrong (Green Day)

Tory.