Overview of the Music Industry
Overview of the music industry
The music industry was worth $25.9 billion in 2021
The total cost to produce a professional music video can
range from $20,000 to $500,000
The modern music video came into existence when 24-hour
music channel MTV launched on August 1st, 1981 (The Buggles- Video
Killed the Radio Star) was the first music video they showed
Robert W. Pittman came up with the idea of MTV
MTV provided exposure to artists which allowed them to be
propelled into stardom
MTVS views were at their highest in 1999 and continued with
strong numbers through until 2001
The main purpose of a music video is to promote and showcase
an artist by releasing a music video it promotes a single, an album and the
artist as well as in music videos any products used as product placement
increases profits for the artist and record label.
Music videos became popular as they became high production
shot movies filled with entertainment such as dancing. Immersive audio and
video experience is what artists started to offer through music videos to their
listeners.
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