The record industry emerged as a temporary solution between the invention of sound recording in the 1890s and the rise of the internet in the 1990s. For about 100 years, artists could profit from selling physical copies of their music - something unprecedented in music's 40,000-year history.

Early electronics companies like Sony and Columbia started producing records to make their record players more valuable. The recording business proved more profitable than hardware sales, leading to the birth of the modern music industry.

During this era, artists could generate significant income from record sales. While Mozart never sold a single copy of his work, artists like Taylor Swift have sold over 100 million copies. This model worked by taking advantage of market inefficiencies - consumers had to buy full albums even if they only wanted one song.

The internet disrupted this model. iTunes unbundled albums into individual tracks. Streaming services like Spotify only pay artists when their songs are actually played. While some artists like Taylor Swift have pushed back against streaming by withdrawing their music, this represents an attempt to preserve artificial market inefficiencies.

Today's music industry offers diverse opportunities beyond record sales:

• Video sharing platforms
• Social media promotion
• Direct ticket sales
• Online music stores
• Digital distribution services
• Direct-to-fan platforms

While the traditional record industry may be declining, new digital platforms and business models are emerging to connect artists with audiences in different ways.

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