Music FridayMusic has been one of pop culture’s major foundations. From guitar-wielding, long-haired rock stars and torn jeans, pink haired punk artists to main stream hip-hop and female celebrated pop icons, the demand for music is higher than ever.

But since we now live in a world where practically everything can be shared through the internet, are the artists getting hurt by piracy? Or are they just brushing it off like it was some minor folds on their shirts?

Music and internet

The music industry is indeed hurting. All these piracy are bleeding billions of dollars in profit losses. In an attempt to put pressure on the hemorrhage, the International Federation of Phonographic Industry (IFPI), the one that represents music labels worldwide, have agreed on a specific day of the week to which new releases will be available. And that day is Friday.

The agreement was nodded by those involved after a nine months negotiation.

But what would this agreement bring? Why the agreement at all? The explanation is this. Before the uniform release, each country had its own specific day of making a new single or album available. Britain and France opted for Monday; Japan settled for Wednesday, Germany and Australia took Friday, and the US Tuesday.

Now, when an artist releases a new single or album, in say, Wednesday, only fans in Japan are being catered. Others will have to wait until their specific day – or not. They could just wait a few hours until someone uploads it on P2P sites like Piratebay or Kickass torrent and they’re good to go.

Of course there’s a gaping hole in this reasoning. Fans could just wait again until someone uploads the single or album.

However, the aligned global release was based on data about consumer behavior. Studies have shown that Friday is when people usually buy their music from online stores and brick-and-mortar retailers. This is also where impulse buying is the highest since people don’t have work on the weekend.

But not everyone is happy with this decision. Beggars Group founder Martin Mills expresses his disagreement saying that this move would mainly benefit mainstream music and leave the indie scene behind. A scene that can potentially be the new mainstream tomorrow, he added.

P2P sites are here to stay

Needless to say it’s going to take a few more months of data gathering to see whether or not this new tact of the IFPI is going to stop the bleeding. And the cause of it – piracy – is here to stay. Take Piratebay, for instance. A few months ago the site has been shut down, but now it’s up and running again like nothing happened.

Whatever the case, it would seem that the music industry will have to suffer the giant leech that’s been dipping its hands on the pockets of corporate suits. Thankfully, there are people out there who are still paying the songs that they enjoy and are supporting the artists and labels behind them.