what is likely to happen to musicians during a credit crunch?
how might a global economic depression affect the music we are listening to?
I believe that--despite an impending credit crunch-, the lure of fame and fortune will always attract new musicians. Old/established musicians will try to re-invent themselves and there will always be a market for music that is considered 'good music' no matter what the genre.
It is said that during economic crisis, luxury goods are the first to be discarded. Many people might regard music as a luxury. However, having been in economic crisis for several years and seen the fall in CD sales--largely due to free downloads and offers - both illegal or otherwise-, the music industry is already adjusting to the credit crunch by way of large companies engaging in necessary cost-cutting and restructuring strategies
to be in with a chance to surf the economic tidal wave.
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