Abstract
Technological advances in the music industry have changed the bargaining power independent musicians possess in contracts. This has taken two forms: independent musicians have obtained more bargaining power when negotiating contracts with major label record companies and they may no longer need to enter into a contract with a major label. This is due to social media giving artists access to consumers; recording and production costs diminishing; and music distribution becoming more accessible to independent artists. Although technology has provided musicians with more power and opportunities, an artist must make effective use of the technology to succeed.
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