The burgeoning popularity of digital music has drastically reduced revenue brought in from CD sales since 2001. Although many people have switched from illegally downloading to purchasing music on digital stores, paid digital downloads have not yet begun to make up for the loss of revenue from CD sales, and illegal downloads remain a problem for the recording industry.
The industry has been compelled by this shift to investigate other sources of income, like live concerts and streaming platforms. Its struggle serves as a reminder of how challenging it is to strike a balance between accessibility and equitable payment for producers and artists.