Week 11 - Does the Music Industry create the Market?

It is argued that the music industry creates the market. It has a lot of control over what they sell and how to make a profit. Hence, the industry will only promote a music artist which is consumer friendly. Once a band becomes a success and of popular demand, their image becomes liked. Then the industry will take a new band and formulate them around those who are of success (already liked), therefore several bands at a time will sound and be very similar. For instance boy bands, part of the music industry produced a band and when it was discovered that it was a hit they all followed suit. These industries are in completion with other industries so need to create diversity against their rivals and therefore aim their music and genres for a certain market. However there is in favour that the audience create the market, as music is in their best interest and they will not busy a record that they do not want. So therefore it is possible for a music industry to flop as it is the consumer who decides what is popular, and they create the market.