The music industry is one of the most lucrative sectors in the whole entertainment industry. Composed of many subsectors, the music business continues to thrive despite fluctuations in the global economy. However, the music business has been challenged in the present times with the threats brought about by changes in the environment.

Before, the whole music industry greatly relied on retail sales of the artists’ albums. However, with the introduction of the Internet, consumers can now download their favourite songs for free. Seeing this behaviour as a major threat to the music business, a new approach has been utilised by many players. Nowadays, artists and their record labels work together and produce high-class concerts for the fans all over the world. Compared to the earlier times, the volume of concerts produced today has grown dramatically. Until the global community changes its behaviour, the music industry will continue to serve the market the way it is right now.


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