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The recording industry has famously been transformed by technology throughout its entire history. The book presents an analysis of these changes using Porter's five forces model. The author highlights the evolution of buyers' and suppliers' power, the emergence of new competitors, product innovation and rivalry between companies in the industry driven by economic, political, social and legal factors. As an early mover in the social diffusion of copyright-sensitive content, the recording industry reflected in this book serves as an important reference for the analysis of other cultural and creative sectors.
This book explores why widespread predictions of the radical transformation in the recording industry did not materialise. Although the growing revenue generated from streaming signals the recovery of the digital music business, it is important to ask to what extent is the current development a response to digital innovation. Hyojung Sun finds the answer in the detailed innovation process that has taken place since Napster. She reassesses the way digital music technologies were encultured in complex music valorisation processes and demonstrates how the industry has become reintermediated rather than disintermediated. This book offers a new understanding of digital disruption in the recording industry. It captures the complexity of the innovation processes that brought about technological development, which arose as a result of interaction across the circuit of the recording business – production, distribution, valorisation, and consumption. By offering a more sophisticated account than the prevailing dichotomy, the book exposes deterministic myths surrounding the radical transformation of the industry.
This research-based book investigates the effects of digital transformation on the cultural and creative sectors. Through cases and examples, the book examines how artists and art institutions are facing the challenges posed by digital transformation, highlighting both positive and negative effects of the phenomenon. With contributions from an international range of scholars, the book examines how digital transformation is changing the way the arts are produced and consumed. As relative late adopters of digital technologies, the arts organizations are shown to be struggling to adapt, as issues of authenticity, legitimacy, control, trust, and co-creation arise. Leveraging a variety of research approaches, the book identifies managerial implications to render a collection that is valuable reading for scholars involved with arts and culture management, the creative industries and digital transformation more broadly.
Seminar paper from the year 2013 in the subject Business economics - Marketing, Corporate Communication, CRM, Market Research, Social Media, grade: 1,3, University of Munster, course: Digital Media Marketing Seminar, language: English, comment: Seminar-Arbeit im Digital Media Marketing Seminar, Master Marketing an der Westfalische Wilhelms-Universitat Munster, abstract: This seminar paper analyses how the digitalization has changed the general set-up of the music industry. By analyzing studies and data, the paper illustrates several challenges that influenced record sales. Considering the different type of players in the music industry - record labels, online and physical retailers, and artists - this paper will only discuss the challenges and effects of the digitalization on the major record labels. The challenges of digitalization for artists will not be covered in this paper; digital music actually enhances the chance of being discovered and for reaching a larger audience (Ankeny 2012). In this sense, the digitalization is an opportunity, rather than a challenge for artists. This also applies for online retailers such as iTunes and Amazon. Since digital music does not require physical storage, online retailers can offer music at almost zero costs. Thus, online retailers benefit from the digitalization of music. Physical retailers presumably lose revenue because of the digitalization of music. However, their situation will not be discussed further, in this paper. The major record labels are highly vertically integrated (Neff and Blomer 2003, p. 104). Besides managing artists, the recording companies are also in charge of the publishing and copyrights of music. Additionally, they have enormous production resources and strong distribution networks. This gives the major record labels a significant competitive advantage. However, this advantage was partly ruined by the digitalization. In this paper, digitalization of the music industry is limited to the impact of
Seminar paper from the year 2017 in the subject Business economics - Business Management, Corporate Governance, grade: 1,0, University of Applied Sciences München, language: English, abstract: The following work deals with the effects of digital change on the German music industry. For this purpose, one of the most famous and successful music labels in the world, Sony Music Entertainment, will be analysed. Since this is a US-American company, this elaboration refers only to the company headquarters responsible for Germany. The work should show how the music industry has changed in recent years and how a large music company like Sony Music can withstand the demands of the digital age. For this purpose, the further course of this work is presented below. In recent years there has been an extremely strong digital transformation. Digitalization is profoundly changing society in all areas of life. Information and communication technologies connect the different areas of everyday and working life. From intelligent energy supply, to smart logistics and transport systems, to the intelligent home. Intelligent business processes are at the center of Industry 4.0 in order to make the respective companies more flexible and resistant to unforeseen events . Not only manufacturing companies, logistics and industry, but also service companies have benefited from technological advances. Being able to deal with new technologies becomes more important for every entrepreneurial existence. Many companies have had, or are in the process of, adapting their traditional corporate structures to ever-evolving digital needs. In the past, a number of industries, such as banks, commerce, music, film and television, and other service providers have been able to discover and adapt to this change. On the one hand, many companies have been able to achieve higher profits, faster growth and a high level of awareness through digitization. On the other hand, just as many companies have been unable to exploit the importance of technological change for their business model and were thus unable to adapt to the current requirements of the digital age, among them are some music labels that have not recognized or exploited the trend towards digital titles. Today, streaming portals like iTunes, Spotify, Tidal, etc. are the pioneers in the music industry.
The second edition of iTake-Over: The Recording Industry in the Streaming Era sheds light on the way large corporations appropriate new technology to maintain their market dominance in a capitalist system. To date, scholars have erroneously argued that digital music has diminished the power of major record labels. In iTake-Over, sociologist David Arditi suggests otherwise, adopting a broader perspective on the entire issue by examining how the recording industry strengthened copyright laws for their private ends at the expense of the broader public good. Arditi also challenges the dominant discourse on digital music distribution, which assumes that the recording industry has a legitimate claim to profitability at the expense of a shared culture. Arditi specifically surveys the actual material effects that digital distribution has had on the industry. Most notable among these is how major record labels find themselves in a stronger financial position today in the music industry than they were before the launch of Napster, largely because of reduced production and distribution costs and the steady gain in digital music sales. Moreover, instead of merely trying to counteract the phenomenon of digital distribution, the RIAA and the major record labels embraced and then altered the distribution system.
Patrik Wikström and Robert DeFillippi bring together innovative, multidisclipinary perspectives on business innovation and disruption in the music industry. Authors from fields such as cultural studies, economics, management, media studies, musicology and human geography in North America, Europe and Asia focus on the “second wave” of digital disruption and the transformation of the music industry. The chapters are structured into three parts: the first part contextualizes changes in the music industry that have been driven by digital technologies since the end of the 1990s. The second part unpacks the impact of these disruptive technologies on business models in specific industry sectors and geographies, and the third and final part examines questions related to the emergence of subscription music services. Concluding chapters link back to the role of hackers as a subversive and innovative force in the music economy and examine how hacker creativity can be facilitated and encouraged to generate the next big music industry innovation. This multifaceted look at the music business will serve as a resource for both undergraduate and graduate students, as well as established scholars and industry professionals.
The music industry was the first media sector to be massively affected by digitization and the internet. In this paper, the strongly technology-driven transformation of the sector is first reconstructed, divided into distinguishable development phases and condensed into characteristic peculiarities of an extended socio-technical upheaval. Subsequently, the most recent change in the music market and consumption from buying to accessing music will be examined and the thesis will be pursued that the implementation of streaming gives rise to qualitatively new possibilities and patterns of a technically mediated observation of consumers, curation of music and commodification of the product.
Aimed at songwriters, recording artists, and music entrepreneurs, this text explains the basics of digital music law. Entertainment attorney Gordon offers practical tips for online endeavors such as selling song downloads or creating an Internet radio station. Other topics include (for example) web site building, promoting through peer-to-peer networks, etc.