Of all the traditional industries to have been affected by the growth of the internet in the last decade or so, those working in entertainment have arguably been the ones hardest hit – and it has only been in recent years that companies have been able to fight back.
Musicians have long struggled with problems relating to piracy of their music – but super-fast broadband and the birth of the MP3 has meant that fewer people than ever are purchasing music. However, this has been somewhat countered by artists now touring more frequently than before (which, in turn, has led to the expansion of booking companies like See Tickets and Ticketmaster), and the creation of legal streaming platforms (with Spotify being the most prominent).
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Although filmmakers also had to deal with online streaming platforms taking away a large chunk of their profits, one of the main reasons cited for the decline of cinema has been that people now have so much choice in what to do with their free-time that going to the movies is low in the list of priorities for many. However, Netflix and LoveFilm (now called Amazon Instant Video) have proved a success in countering this, offering subscribers the opportunity to watch Hollywood blockbusters on the go through their phone, tablet or laptop for a small monthly charge.
The entertainment industries may not be in the same rude health that they were before the turn of the millennium – however, it is clear that they are finding ways to remain viable in the face of a swiftly shifting economic landscape.