As digital media technology continues to develop, it has made a significance on media institutions.
Media has become visualised. Audiences now like to engaje and relate to music. Music videos allow audenices to do this, making music very visualised. Without the music video the soundtrack would not make it, as audenices are not nessacarily interested in a soundtrack that sounds similar to another track as much as the video that goes with it. An example of this is PSL 'Gangnam style'. The actual soundtrack to this song in not authentic and sounds similar to everything else. However, by making a music video that has a dance that everyone will remember and associate the soundtrack with, made the track very successful and resulted in being number 1 in the charts and going global, by the use of youtube.
There is new technology that has enabled consumers to produce their own soundtracks. Software such as garageband and others like it, make it easy to produce mash ups and soundtracks made by anyone. Most music today is synthetic and as a result make its very easy for prosumers to create mash ups of already existing tracks into their own using this software. This has a significant effect on media institutions as it can de-value and lose originality of the soundtracks. In contrast, it can act positively for the audience as they feel a sense of interacting with artists and music, they can also gain a good fan base from doing this as it can cover a range of genres into one track and a wider audience is covered. An example of this is Madeon. He has created a mash up of well known songs and made his own track out of them. This can take away the authenticity of the original songs and de-value them, as it is taking away the meaning. Another example of this, is the band I am in. Five of us have created a band 'fyve', we then extracted music from youtube and by using garageband created a mash up of well known songs. We then made a music video for the track, by doing this we gained 200 views on our track on youtube. This shows the impact tecnology has had on the audience, as now they are able to produce their own music without being signed to a music label.
Tv programmes, such as the x-factor use the visual aspect of music. SYCO the record label that is behind x-factor is a label of the conglomerate, Sony. As a result of this x-factor is able to use the back catalogue of Sony in their programme. This enables the smaller artists to record their own versions of original songs. This can have a positive effect on the music industry as the original tracks also come back into the charts.
New media technology, such as smart phones and other devices allow audiences easy consumption to streaming and downloading music. This can de-value the music, and prevent a wider range of artists, as the labels are unable to take the risk of funding artists that do not already have a big fan base and the conglomerate EMI went bust. This also causing record shops like HMV to go bust, as the demand for physical copies has gone down due to new media technology.
Social networking sites, such as Twitter, instagram etc. allows a closer interaction between the audience and artists. They have a positive impact on media institutions, as it is free advertising, and promotes artists. Independants artists are also able to promote their music, for example my band 'fyve', have over 1,500 likes on social networking sites, instantly making people aware of our work and distributing it.
Overall, media technology developing has made a significant imoact on the media institution as it is much easier to distribute worldwide. Also marketing is much cheaper. It allows small independent companies to grow, promote and distribute through the internet. However, the negative effect is that illegal downloads and streaming is easily accessible, therefore music labels are having to make their money through festivals and merchandising.
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