Childress+J.+Report+Prospectus

Childress J.

= When Given Lemons, Make Lemonade: The Positive Side of Piracy =

// How the music industry can still come out on top, in a world full of piracy //
=__**The problem**__= =Illegal downloading is at an all time high. It is impossible to completely stop piracy unless the USA follows countries such as Europe, by creating stricter punishments for illegal downloaders; which includes cutting internet access for violaters after their third warning. Since their is a large population of illegal downloaders, the music industry is suffering because of the lack of people who purchase music.=

=__Proximity's Social Media Solution / Recommendation__= =Proximity's focus group results showed that a lot, if not all, of Gen-Y downloads music illegally and s typically only interested in downloading tracks opposed to full albums. Participants felt that there wasn't a need to purchase music when its online for free.= =This report describes how the music industry is dealing with piracy. Some solutions to this problem include creating new business models and other solutions include creating new marketing strategies. A lot of music companies are investing in product placement. Just because Gen-Y isn't buying music, doesn't mean they aren't buying other goods. Also online music stores, are starting to transition into subscription models, where users pay a flat rate a month and users are able to download as much music as they want.=