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The document discusses the impact of technological changes on the music industry, focusing on digital music and its economic implications. It covers intellectual property laws, including copyright and fair use, and examines how the rise of file sharing and online distribution has affected traditional music sales. The document highlights shifts in consumer behavior, the decline of CD sales, and the emergence of digital downloads as a significant revenue source. It also addresses the evolving competitive landscape involving major players like Apple and independent artists.

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When did digitalization start in the world?

The history of digitization can be traced back to the advent of computers in the 1950s. Since then, digitization has transformed nearly everything into computer-friendly 1s and 0s and has changed the way we work, communicate, shop, bank, and even how we relax and entertain ourselves.

Are we in a digital economy?

In todays dynamic and rapidly evolving economic landscape, the digital economy has become a cornerstone of our economic growth, job creation, and innovation in the United States.

When did the digital economy begin?

The digital economy, also referred to as the new economy, refers to an economy in which digital computing technologies are used in economic activities. The term digital economy came into use during the early 1990s.

How much of the US economy is digital?

The arithmetic yielded a figure of $2.57 trillion for American digital GDP in 2022 exactly a tenth of that years $25.7 trillion U.S. economy, and 2.5% of the $100.7 trillion world economy.

What year did the digital era start?

The digital revolution began in earnest on April 30, 1993, when the European Organization for Nuclear Research (CERN) made a decision that would alter the course of history: releasing the source code for the worlds first web browser and (for better or worse) placing control of the internet in the hands of the general

When did the digital economy start?

Introduction. Digital economy is first proposed by Tapscott (1996) and gradually came into being after three stages: information economy, Internet economy and new economy (Turcan Juho, 2014).

What is an example of digital economy?

The following are some notable examples of the digital economys evolution: Inception of digital trade and e-commerce. The surge of e-commerce -- where platforms such as Amazon, Alibaba and eBay have transformed online buying and selling -- has reshaped retail and created new technologies and business models.

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