A lot of people would tell you that illegal downloading has devalued music. Now, that sounds like a great answer, but there is little to no truth.
I feel that the music industry has replaced quality for quantity. The music industry as a whole, releases more music yearly then ever. In doing so this leaves little time to market and promote music, never mind the budget to do so.
Ask yourself when is the last time you bought a quality album?
It is no wonder why consumers have turned into one-track buyers with fewer quality albums to choose from. We as an industry have changed the consumer’s buying habits without even knowing. The quality and longevity of artists now is far and few in-between. The development teams and A&R staff at labels have failed us all.
The A&R and development tactics of years past are flooded with over saturated outlets. It has become a harder task to scout new talent with quality and longevity of the music of past generations.
We as a industry have reduced prices to meet demands of iTunes and big box retailers like Best Buy and Wal-Mart. Driving down CD prices to $9.99 and as low as $5.00 for greatest hits CDs. We have unfriended our friends at brick and mortar locations to meet the demands of big box retailers who over time would shrink their sales of music.
Labels now place their whole music catalogues on streaming and subscription sites like Spotify and Pandora. Labels make pennies; to the dollars they have spent making, marketing, and promoting their music.
Then you ask me who devalued music? The answer is the music industry.
You don’t believe it?
Attend any industry conference and they will tell you that music is a promotional tool. Now, if we as an industry believe music holds no value, how can we make the consumer believe music holds any value?