Presented with the above information, it is obvious that if they want to stay in business, record companies are going to have to change with the times. The internet and its accompanying ability to download is directly antagonistic to the interests of the old industry business models. However, with the internet comes loads of potential for thoughtful industry professionals to tap with new ideas. Both artistShare and SpiralFrog are two great examples of new ways artists and music businessmen are adjusting to the new scene. In the near future, I think we will continue to see a shift away from the old recording contracts and artists signing on with specific record labels. Many more artists will start to take advantage of the ability to take control of the business end of their music that the internet provides them. The artistShare site is the best example of artists truly owning their work.
The work speed and availability of information that the internet provides makes it much easier for artists to manage themselves. All of their press and contact information as well as all as their CD sales can be managed through a single website. Contacting people about booking for shows and tours is easier as it can be facilitated through e-mail and the website as well. With this lack of need for record labels and agents, much of the middleman aspects of the music business are being cut out. Therefore, it will continue to become harder for major record labels to stay in business.