Quote:
Originally Posted by GearGeek  Originally Posted by GearGeek
Music is a LUXURY people, not a necessity.
Oh yes you are right. Just look at the epidemic in Africa. Millions died because lack of music..... |
What are you from the great depression? Our economy does not resemble Africa, and i think the assumed people he was talking about were in the western developed world like the US.
Basicically what I think they're saying is that the price elasticity of demand for music is somewhat low.
If you're a teen, top 40 is a must have whether its at 1.89 or 99c a song. Jazz afficianados got their must have albums even if three bucks more an album.
If they love it, they will pay for it.
Conversely, my nephew wouldn't take a free "great" country album if it werre handed to him. But for what he views as must have (the killers) he would pay $20 bucks for the album no questions asked. Sure there will be a lot in the middle, and their prices are more elastic, but in terms of the majority of high impact artists that are selling a significant amount of units, people will pay what you ask.
Despite this when the price hits zero, the demand is almost infinite. Thats where kids have 3000 stolen songs on their ipod. That's when there are no record labels. No budgets for producers, engineers, mixers, people who are trying to make a living on this board. That is where we are headed if the RIAA does not sue / threaten / blackmail, which i believe is morally justified.