Today, the music industry has been undergoing some drastic changes. The changes have not been good at all. Music industry revenue has been chopped in half largely due to Limewire and illegal downloads and music theft. Although many artist are still surviving, it is not on music album sales. The majority of artists are constantly on tour and make their money that way. Almost all money that they make is on merchandise sales and concert tickets.
Although the idea of making money on touring is not a new idea, but as time goes on, it becomes increasingly more important in order to make money. Many artist tour year round, and end up making more money than artist that go platinum and don't tour, which today is unheard of.
What are your thoughts on the ever changing music industry? Where will it be in 5 years? 10 years?
