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The aim of this article is showing the impact of new technologies on the music industry, especially phonography. Nowadays music industry, has to face digitalization of the cultural life, which causes decrease in sales of CD’s and vinyls. This process is recognized as one of the symptoms of the crisis in the phonography. This situation requires major changes in the functioning of this industry. Record labels have to move away from a previous model of bussiness and transform themselves adapting to the new environment. Reinvetion in which, technologies such as Internet will be treated as a way to succeed, not as the source of problems is necessary. The Internet provides many tools that could help the phonography on the way to success. Time may show that ongoing changes are the beginning of the new era of that industry.