::: Supporting an online digital market

Introduction

Technology triggered new or evolved music business models. These new models in the digital age, have in turn, created new revenue streams for Record Producers, Recording Artists, Record Labels etc.in more ways than one.

Riatt is the organization that will keep it’s members abreast of all current technological trends that apply to the music industry. Our aim is to educate or members on capitalizing on new revenue streams created by a forever evolving music business model.

What are some of these new Business Models?
(1)Single track downloads to computer or mobile.
(2)Album downloads,
(3)Mobile master ring tones,
(4)Music video downloads,
(5)Streaming; all of these are characteristics of this new business model where music industry stakeholders are starting to see profits.

Where are we in this picture?

The music industry has evolved from the vinyl record to the apple IPod. The online and digital market is now estimated at some US $4.2 billion dollars. More than a quarter of all recorded music industry revenues worldwide are now coming from digital channels.

What does this all mean for stakeholders in Trinidad and Tobago?
It means the music industry has evolved into a business model where music consumers have a choice of how and where they want to use and enjoy our music. RIATT's task is to ensure that all these options are made available from every conceivable legal angle.