Apple revolutionized the music industry with Itunes

Apple has changed the lives of thousands of people with the creation of iTunes. This helped artists as well as the customers. People are able to download the songs they like for a reasonable price. Now, instead of waiting in lines to buy one cd in which you probably like only couple of songs for 20 bucks, you can sit comfortably at home and download the ones you prefer. Of course, the big corporations like NBC won't like it because now they are no longer able to monopolize the music industry and this has resulted in a decrease in their market power. The iTunes is easily accessible, practical and cheaper than buying an actual cd and plus it also helps reduce illegal downloading of music. The other advantage with iTunes is that you can find all your favourite artists online and you know that it will never run out of copies. Before iTunes came along, the music industries were completely dominating the market and they were charging exorbitant amounts for cds and all the money went mostly to the music industries. As everyone likes to gain more and more, it's only normal that the music corporations won't like losing money to Apple and they will try all they can to regain their domination. Their profits went down by a lot when iTunes came out as iTunes were selling songs for 99c. The big corporations were obliged to reduce price in order to compete with Apple but with all their extra costs like paying distributors and all, they were unable to compete with this technological revolution. Nowadays, most people have an iPod and everyone downloads from iTunes. I believe that we now live in a society run by technology and with the new generation, iTunes will definitely prosper whereas the stores selling cds will eventually close down as no one will buy a cd for 20$ when they can buy songs for 99c. As Adam Smith the father of economics once said, every man will do what's best for himself, and thus it only makes sense that everyone will rather pay 99c than 20$.