What equipment is used nowadays that wasn't used back then? How has some equipment changed?

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The economic principle I’m exploring is “Institutions are the ‘rules of the game’ that influence choices.”

My research question to help me study the economic principle is “How have new incentives such as technology and business models influence music production over the past decades?”

The article published on the website tech.co titled “How Evolving Tech Has Changed Music Production” demonstrates this economic principle because the article shows how the invention of the radio and evolving tech has propelled the music industry as well as how music production has changed due to broader incentives. 

Firstly, the article began to discuss how after World War I and II radios became widely commercialized to the public after its strong use by the American military. Radios became a household necessity for all families at this time. Families would listen to the news, sports broadcasts, shows, and music. The radio was one of the major components that spawned the music industry because radio stations would pay for music using their advertising money. As years pass by the record player became very popular and now selling records became a new source of revenue for artists as well as the music industry. After this major labels developed and began to dominate the industry.

Secondly, the article began to elaborate on the current state of music production today. The author talked about how many songs are made using DAW’s which is a digital audio work space. For instance Garageband is one of them but is something professionals don’t use because of the sound limitations. As they talked about the current equipment being used, it also talked about how nowadays it is easier for artists to get there music across a platform or audience because they no longer have to battle for shelf space in stores. This is due to music mostly being listened to on electronic devices.

Lastly, the author spoke on how new incentives and necessity made the music the way it is today. New technology from acoustic panels to mics can be capable of changing the business of music as well as how it is made. Day after day the music industry progresses therefore music production will have to get more advanced in the future.

In my next blog post I will research the question: How has the cost changed over the years?