The Economics of the Music Industry

Music is the Essence of Americaa!

 

 

America is still the world's biggest market when is comes to pop music. If you were to turn on a car radio in Italy, or walk into a store in Mazambique, there is a good chance you will hear an American pop tune on the radio. 

 Music is an export, just like anything else. For example, Taylor Swift a huge music artist that is another American product and export. With exports, Businesses in many countries are fighting for their share of the global market. They want people all around to world to be listening to their music. And they are figuring out how to make it happen.

 Gangman style is Korea's biggest hit that has 470 million views on you tube. Korea has spent the last 20 year waiting for there shining moment of producing a number one hit. It has taken America over 100 years to dominate the music industry and Korea figured it out in just 20 years.

Although America will always be the worlds biggest and best source of pop music,  I believe that every country deserves their moment in the light. The song Gangman Style, has surpassed the number of views that Justin Bieber received for his video "Baby" on YouTube. I  think Gangman Style has a catchy beat and watching the music video provides entertainment because of PSY's amusing dance moves. As the song continues to rapidly gain popularity and ubiquity, its signature dance moves are being performed all around the United States by children, adolescents and adults.

Katy Perry is one of America's biggest pop sensations and was the most played artist on the radio last year. She killed it on the pop charts and was number one 5 times last year. Over the past year Katy Perry made a fortune but its questionable whether her label did too. Katy Perry's success of 44 million is distributed between herself, the song writers, Apple and her label. Its a known fact that many music labels do not make as much money as they should with all their hard work they put in. There are only three major music labels that have not been shut down. I believe that music labels she be given more money because without them music artists would not be as successful or be played on the radio.