Conclusion

The music business appears to be (almost) the same as it ever was, with a handful of large firms maintaining control over the production and distribution of music. With significant economies of scale, it makes economic sense for these firms to use their market power to produce music efficiently and cheaply. But musical innovators have challenged the dominant paradigm and many have struck out as independent artists with control over their artistic creations. Technology has and will continue to enable them to do so, leveling the playing field for new musicians to find better ways to create and distribute music.