The online revolution has proved as damaging to independent labels as to multinational companies. How far do you agree?

The internet has made it very easy for people to get hold and access music whether it be for a fee or for free. It has 'damaged' both independent and multinational labels because if people are downloading their music illegally, the labels are going to get less money from sales because the more people that are downloading illegally, the less amount of people will be paying for the single/album. Also the more wide spread the artist is over the internet, generally the more well know they will become because it will be easy getting hold of their music online. I think the online revolution has been more damaging to independent labels as they don't have as many artists signed to them as multinational labels which means that the money that they lose out on from illegal downloads will show significantly rather than a lose for a multinational label. In the long run this could mean that independent record labels will not have enough money to produce as much music which could lead to the artist fading away from the music industry itself.

But on the other hand, the online revolution has helped labels because they can help an artist to become more well known because they can put up free downloads so that people can download it for free and listen to it and decide whether or not they like the artist before they go and buy more of their music especially if they are signed to independent labels where promotion isn't as wide-spread. This is easily accessed by hundreds/thousands of people who use the internet practically every day. The internet has made it very easy to download music straight away and listen to it quickly rather than having to go to a shop and buy the physical copy of the CD and having to wait till you get home before you can listen to it again. Also with the access of iTunes on iPhones and iPod Touches means that you can buy your music on the go and listen to it whilst out and about.
The internet has also helped it easier to share music with other people. This means that you can suggest a good song you've heard on the radio to your friends and they can go home and look it up on YouTube or Myspace and decide whether they do like the same artist without having to pay to listen to their music only to decide they don't like the artist and have wasted their money.