Wikinomics from katiefaint
This is a presentation that I have done with a partner about the theory of wikinomics and what effect it can have on the music, film and news industries. Wikinomics is relevant to my music video because the indie genre is known to consist of mostly small bands and artists signed to small independent record labels which are likely to have a smaller budget than their larger counterparts in the pop genre such as Sony and Universal. This means that videos often have to be shot and distributed for a very small budget, this used to mean that music videos for very small indie bands very few and far between as they were an unnecessary expense. However with the creation of web 2.0 sites like youtube have boomed and have made it possible for small indie bands to produce and distribute their own videos for a very small cost. This is because youtube allows for the free distribution and viewing of videos so a band doesn't even need to be signed to a record label in order to produce and distributed their own video and gain publicity. However peering has also negatively effected the music industry and indie genre as the indie genre is a niche genre so does not make huge profits in relation to sales of songs (compared to genres such as pop) and so the illegal downloading of songs has cut this already small area of profit. This means that the artists have to rely much more on the sale of gig tickets in order to make money, this may actually be less of problem for this genre rather that genres such as R&B as it is within "indie culture" to go to a lot of gigs regularly and spend a lot of money on gig tickets. As well as this the sale of vinyl records has rapidly increased with in the last 5 years reaching its highest sales since 1991, with over 3.2 million record being sold. This is sale of vinyl is particularly prevalent within the indie genre and so some what combats the illegal sharing of music online.
This is a presentation that I have done with a partner about the theory of wikinomics and what effect it can have on the music, film and news industries. Wikinomics is relevant to my music video because the indie genre is known to consist of mostly small bands and artists signed to small independent record labels which are likely to have a smaller budget than their larger counterparts in the pop genre such as Sony and Universal. This means that videos often have to be shot and distributed for a very small budget, this used to mean that music videos for very small indie bands very few and far between as they were an unnecessary expense. However with the creation of web 2.0 sites like youtube have boomed and have made it possible for small indie bands to produce and distribute their own videos for a very small cost. This is because youtube allows for the free distribution and viewing of videos so a band doesn't even need to be signed to a record label in order to produce and distributed their own video and gain publicity. However peering has also negatively effected the music industry and indie genre as the indie genre is a niche genre so does not make huge profits in relation to sales of songs (compared to genres such as pop) and so the illegal downloading of songs has cut this already small area of profit. This means that the artists have to rely much more on the sale of gig tickets in order to make money, this may actually be less of problem for this genre rather that genres such as R&B as it is within "indie culture" to go to a lot of gigs regularly and spend a lot of money on gig tickets. As well as this the sale of vinyl records has rapidly increased with in the last 5 years reaching its highest sales since 1991, with over 3.2 million record being sold. This is sale of vinyl is particularly prevalent within the indie genre and so some what combats the illegal sharing of music online.
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