Question

The invention of magnetic recording tape and the 33 rpm vinyl LP had several profound effects on the recording industry. For one thing, it fostered the growth of small independent record labels, which would in turn have a profound effect on the variety of different music that was readily available to the average consumer. In what way did those inventions foster the growth of small independent record labels

Answer 1

Answer:

Independent record companies provided a cheaper product, which increased consumer demand and made this type of business grow.

Explanation:

The magnetic recording tape and the 33 rpm vinyl LP, supported the work of small independent record labels that did not have large sponsorships and financial investments. As a result, these record companies had an easier time launching products with a price more accessible to consumers from lower social classes.

When a product is launched at a low price, the demand for it increases. This is what happened with the product of these record companies, which also allowed the services made by them to be more sought after by artists. In this way, independent record labels became a promising business in rapid expansion, which was essential for the recording industry.