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MUSIC & FINANCE
MUSIC & FINANCE
pg. 1
If judged from a narrow point of view then it can obviously be
said that there exists no relation between the world of art and the
world of accounts and numbers. But we have to think twice. And if we
try to think from a larger perspective then we are sure to find some
close relationship between artworks and finance. To be more specific,
if studied closely, it can be found that there is a close relation
between music, as an art form, and finance.
The close relationship between music and finance can be
established by citing the example of the increase in the stock market
shares due to the popularity of music of the roaring 1920s along with
the sales figure of the sold recordings and the steady climb in the
financial position of the recording companies in the 1980s, the era of
happy pop rock (Maymin, n.d.). Interestingly enough, if there is a
positive relation between popularity of music and rise in the
financial level of some particular music recording companies, there is
a negative relation too. It is a proven fact that “When we want new
music, there's a strong temptation to get it for free through file
sharing, ripping it from our friends, or downloading it illegally. So
perhaps it shouldn't surprise us that four out of five digital music
downloads are illegal, according to the Recording Industry Association
of America” (Hayes, 2012). Now such a fact is an indicator that music
can also contribute to the downward slope of the financial curve of a
particular music recording company. If the music lovers are
downloading music illegally without purchasing the original music DVDs
or CDs then it is really a reason to worry about for the music
MUSIC & FINANCE
pg. 2
recording companies as such a...