Corporate

Sony Music Facing Difficulties

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It almost seems impossible to run a successful music company these days. With digital downloads of music destroying physical media, the industry is once again at the drawing board as to how they can make the most money off music. There are several ventures finding good fortune, such as iTunes, but it doesn’t go much farther than that. Sony BMG, which is now Sony Music, has been plagued with various woes in the last few years (rootkit debacle, revenue woes, etc) and the hits are starting to take its toll. Columnist Greg Sandoval of CNET writes, “As for Sony Music’s digital efforts, the news isn’t any less gloomy. The company’s market share of digital album and song sales has plunged from 28.6 percent at the time of the merger to 22.5 percent, according to Nielsen SoundScan.” He continues, “As the company’s share of digital music has declined, Warner Music’s has increased. Warner’s share of digital sales jumped from 18.10 percent in 2004, to 22.08 percent in 2008.”

What can Sony Music do for itself to turn things around? It probably wouldn’t hurt if they made a store that all networked Sony devices could access that sold all of the music in Sony’s catalog. Then make a website where people could buy, sample, rate, and review music. I don’t think Sony Electronics and Sony Music are working as closely as they could – not saying they aren’t working together whatsoever, but it seems like they could have a stronger relationship. What do you think?

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