The Recording Industry Association of America (RIAA) is a trade group that represents the recording industry. Primarily RIAA’s job is “to foster a business and legal climate that supports and promotes our members' creative and financial vitality.” In short, the RCIAA makes 90% of all music in the United States and the world available to the public.http://www.riaa.com/faq.php
Initially labels came up with the funds through investments loans or whatever means helped them begin their business, but what makes the label sustain itself is money that comes from record sales.
Then came the Internet.
According to an article printed in the New York Times Magazine in 2000, “The music business is in free fall-it has lost control of radio; retail outlets like Tower Records have shut down; MTV rarely broadcasts music videos; and the once lucrative album market has been overshadowed by downloaded singles…”.http://www.nytimes.com/2007/09/02/magazine/02rubin.t.html?_r=1&oref=slogin.
By making music available for free and or providing dissected and select songs for an equally minimal cost, the recording industry has suffered losses of hundreds of millions .
No longer are record labels focusing on finding and putting out worthwhile music. It is sad to say that now the focus is almost entirely directed towards how to sell it.
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