The music industry world over is going through a crisis of sorts. With the number of social networking sites on a constant rise, the Internet is having a huge impact on the way users consume music. As a result of increasing downloads, music piracy is heading towards an all-time high.
According to an online survey, more than 38 percent of social networkers have their favourite music embedded in their personal profiles. They often share these audio files with their friends, thus lowering the sale value of such songs.
About 53 percent people revealed that they surfed social networking sites usually to find music. Many of the survey's respondents also said that most of their music downloads were courtesy such networks. In fact, the most popular networks themselves claim that more than 75 percent of their users surf their site to download music.
The music industry, on the other hand, is finding it extremely difficult to cope up with this menace. Online piracy has always been a threat for them. And now, with the growing popularity of social networks, the problem seems to have escalated beyond control. However, experts insist that regulation has to come from social networking sites that actually hold the key to this issue of grave concern.
Music lovers will surely be disappointed if they have to get back to paying for their favourite downloads. Any policy in this regard will surely end up changing the face of social networking around the globe.
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