Commodity- A commodity is something that can be brought and sold
The music industry is in crisis as with the changing of technology from CDs to digital the commodity that is the music industry has begun to decline at a rapid rate due to things such as illegal download sites and torrent sites, YouTube and the fact that audiences don't have to buy CDs anymore they can just download it straight to their phones means that the industry is losing money.
Jeremy Gilbert stated that: "A commodity always depends on its status and value. On its relative scarcity. Once the reproduction and distribution of the commodity become effectively free, then it loses its value and status."
This is what is happening to the music industry as with digital technology there is an unlimited supply of albums meaning that audiences don't need to buy the album immediately as it will always be available to them via iTunes, also illegal download sites make it free to download albums at the same quality as the versions brought online meaning that many members of an audience will see it as an easier cheaper alternative to buying the CD or downloading it from ITunes.
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