...Challenges Facing Music Industry and How to Develop It Music is one of the most beloved human experiences. Everyone enjoys a different type of music and that is evident in different events from graduation ceremonies to weddings and presidential inaugurations. Also, we use music in our films, plays because we can always deliver the message using music. It is the power of music that everyone gets influenced by and nothing could stop this power because it facilitates communication which goes beyond words and enables meanings to be shared. Nowadays, we have several types of music such as blues, jazz, hip-hop, new age metal, house, country and rock & roll. Also there are other types of music that produced due to modifications of several genres which makes the list unlimited. All these types are produced throughout the music industry. It consists of composers, singers and the companies and professional who produce and promote the music like music stores, music venues, road crew, producers, and business managers, studios, engineering performance and rights organizations. Nowadays, this industry is facing a lot of challenges that should be faced to develop the music industry. The music industry as a whole is facing a massive challenge. The industry is changing quickly and the market also is changing quickly. These challenges are related to the new technology that has been introduced into the music industry. The main problem that is facing the music industry is the internet...
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...To examine the effectiveness of the ‘Freemium’ business model. Student Name | Kyle Brown | Student Number | N00128284 | Student email address | kyle.brown@student.iadt.ie | Date | 31/10/2014 | Submitted to | Eva Perez | 1 Introduction 3 1.1 Research Questions & Objectives 4 2 Literature Review 5 2.1 The 5% Rule 5 2.2 Music Streaming Services & Spotify 6 2.3 Freemium & Piracy 7 2.4 Consumer Perceptions 8 3 Research Methodology 9 3.1 Research Design 9 3.2 Data Collection 10 3.3 Sampling 11 4 Ethics 11 Harm to Participants 12 Invasion of Privacy 12 References 13 1. Introduction The term Freemium was originated by Jarid Lukin of the Flatiron portfolio company Alacra. Moreover, based on this term, Wilson, a venture capitalist, built up a business model in 2006 (Wilson, 2006). ‘Freemium’ is a business model which has emerged in recent years and has become increasingly popular within the digital service industry, particularly for ever growing music streaming services such as Spotify, as this model has almost saved the music industry from being washed out through ever growing piracy issues. The company has posted growth at a staggering rate of nearly 8,000 subscriptions per day and is currently valued at $3 billion dollars (Hampp, 2013). This substantial growth provides an interesting platform for the researcher and to find out how effective the model is for businesses like...
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...Music in Different Cultures Popular Music and Contemporary U.S. Culture Popular Music in its Many Facets In its broadest sense, popular music is an umbrella term referring to a vast range of commercially mass-marketed musical genres contrasting with classical or art music and intended for mass consumption (e.g., rock, rock and roll, hip-hop, grunge, heavy metal, rhythm and blues, punk, soul, techno, funk, rap, house). This wide-ranging term encompasses a plethora of musical styles involving various rhythms, vocal styles, instruments, and technologies. Characteristically, popular music is a global cultural phenomenon and an accessible form of commercial music aimed at a worldwide audience. Traditionally, British and American forms of popular music have tended to dominate the industry. Corresponding to social, economic, and technological change, popular music is intimately linked to the identity of musicians, performers, or artists, as well as audiences and fans. Popular music is ubiquitous; from shopping malls and advertising to gymnasiums/fitness classes and political campaigns, popular music is a common feature of people's everyday lives and a significant aspect of consumer culture. For fans and enthusiasts, popular music can be a leisure-time pursuit occurring on evenings or weekends; alternatively, it can constitute a lifestyle, or way of life (e.g., Deadheads—a group of fans of the American band Grateful Dead who saw the band at...
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...1 PROBLEM STATEMENT After failing at their first attempt to enter the music industry, Polyphonic HMI (hereinafter referred to as the “Company”), is releasing Hit Song Science (HSS), software used to predict future hit songs with 80% accuracy. An integrated marketing strategy, needs to be developed to launch an innovative product, in an industry typically known for “gut instinct” and therefore likely to meet strong customer resistance. Thus there are two key challenges to address: what is the target market and desired positioning of HSS and what is the plan for marketing this product to achieve that positioning, given a tight “shoestring” budget. 2 SITUATION ANALYSIS Polyphonic HMI wants to launch, what they consider, a sophisticated, new, revolutionary software product in the music industry, with stringent budget and time constraints and therefore must swiftly define a target market and marketing plan. This begins by utilizing a framework for performing a situation analysis of the internal, the micro and macro environmental situation, composed of the typical five Cs: customers, Company, collaborators, competition, context. There are three potential target customer segments that have several unique aspects. Firstly, the record labels, that employ artist-and-repertoire (A&R) people, that amongst other activities, decides whether to market a new album and if needed select one or more songs from it to be released as singles. This is by far the smallest segment with just over...
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...HMI: Mixing Music and Math Marco de Graaf 350111 We Fong Ma 375268 Oliver Müller 373496 Instructor: Dr. G. Liberali Master Business and Economics, Specialization Marketing Erasmus School of Economics Rotterdam, January 22, 2013 Diagnosis The management team of Polyphonic is entering a market, which is currently facing permanent changes and a lot of pressure. Rapid technological changes, like the development from CD to DVD and movements towards digital downloading, forces recording companies to adapt their business models consequently. In addition, the music industry is facing negative annual unit sales growth in their most important markets: North America, which accounts for 41% of global music sales, showed a decline in demand of enormous 10.4 % in 2002. The European market, which is the second most important market, also showed a negative trend in most regions. This situation puts a lot of pressure on the recording industry: Funds have to be allocated wisely and it cannot be afforded to waste and risk any money. In an industry, where the average success rate is approximately 10% and where a lack of tools to measure the potential of a song/artist efficiently is immanent, the task of not wasting money is a difficult one. The industry has to rely on the feelings, ears, guts and experience of its producers. The most popular scientific alternative currently available is the so-called “call-out research”. Depending on the method, this form of research can cost between...
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...Sony Mobile were Facebook and YouTube. Our research also showed sound quality and looks as the attributes most appealing to the target group. As a result, they had the capabilities to seamlessly execute campaigns in tandem with new product launches on multiple social platforms. Their intelligence tools measured up Sony’s competitors and planted the roots for a 360 degree Social Customer Relationship Management and a capability for social commerce. By early 2012 the music industry in India had witnessed remarkable changes. With the rapid growth in Internet penetration and usage, innovative technology was driving music production, access and consumption. Sales from digital platforms had surpassed sales from traditional physical formats, such as CDs and tapes. With the distribution of digital music in India largely skewed towards the telecom business, music was increasingly being accessed via mobile devices, including smartphones and tablets. Overall, the role of the recording company seemed to be diminishing. While some of the leading companies in the music industry were testing the waters in the digital space, new players, including technology companies, were quickly entering the market with various new platforms and services. Sony Music has unveiled its ‘India Segmentation Study’, the country’s first and largest research undertaken to analyse psychographic and demographic profiling of Indian audiences based on their music consumption patterns. It offers a never seen...
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...Introduction to Management | Internet Business Models – A Case Study. | Nicole Fearon | user 5/3/2012 | Contents Question 3 Approach 3 The Case (Taken from TTFI.net Article) 4 Case Analysis 5 Business, Industry and Government Reviews 7 SWOT Analysis 7 Analysis Summary 8 Porters Five Forces Model 9 Porter’s Diamond Model 11 Demand Conditions 12 Related and Supporting Industries (collaborative industries) 12 Firm Strategy, Structure and Rivalry 12 Role of Government 13 Interconnectedness, Complexity and Business Models 15 Challenges and Strategies 15 External 16 Internal Strategies 17 Summary 19 Reference 20 Question Select one of the themes listed at the end of this table and undertake further research to prepare a paper outlining the key developments in the area. Your paper should contain references from a minimum of 15 sources, which should be clearly identified in a table of references or bibliography. You should also indicate the implications of your study for organizations in the Caribbean and provide recommendations for the adoption of strategies to address the challenges. Themes • Evolution of Management in the Caribbean • Managing in an Interconnected World • Managing the 21st Century Workforce • Use of ICT in Small and Medium Sized Business • Ethical Issues for Managerial Decision Making Approach Information and Communications Technology is a wide topic that can follow many paths. The focus for this...
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...Campus April, 2014 Abstract The purpose of the paper is to research and understand how the changes of globalization and technology have impacted the music industry. This paper will also apply the industrial organization model and the resource-based model to determine how the music industries earn above-average returns. This paper will explain how the music industry’s success is through its mission and vision statements with Universal Music Group as an example. Finally, this paper will evaluate how the importance each category of the stakeholder impacts is to the overall success of the music industry. Assess how globalization and technology changes have impacted the corporation you researched. The company researched was Universal Music Group because the music industry is ever growing and wanted to know more about the company. As we all know, technology has been a major part of the music industry both good and bad. Technology has helped plenty of artists and hurt others. Since the introduction of the mp3 and the popularity of the IPOD device, compact disc sales have declined and more music is being released without the record company’s permission. Some may view this as a major problem to the other major record labels that distribute music globally. But some are using the mp3 to their advantage. A while ago an artist could not walk out of a studio and release a record in ten minutes. Now artists can get the music to their fans in record time and the fans can then download the...
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...Project How can HMV optimize social media for music promotion Content Abstract 3 1. Introduction 4 2. Industry Context 5 3. Management Issue 9 4. Literature Review 15 4.1 Digital Music Market and Retailer 15 4.2 Social media 18 4.3 Social Media Tool and Music Retailer 21 5. Research Gap and Significance 25 6. Research Aims 25 7. Research Methodology 27 7.1 Research Source: Secondary data 27 7.2 Research Method: Case study 28 7.3 Research Steps 29 8. Research Analysis and Findings 31 8.1 Research Analysis 31 8.1.1 Audience Insight 32 8.1.2 Direct, Simple and Convenient Design 37 8.1.3 Insider Strengthening 39 8.2 Research Findings 41 8.3 Research Recommendation 42 9. Research Limitation 43 10. Conclusion 44 References 46 Abstract HMV is a British entertainment retailer, which is selling music including physical music and digital music. However, HMV does not runs good social media. In this dissertation, I will explain music industry context and HMV’s social media issue, followed by reviewing literatures about digital market, social media and music retailers. Furthermore, I design a research with secondary data research and case study method, and investigate how to deal with HMV’s social media issue through exploring what and how do other successful cases do for this challenge especially on social media. Key words: Digital market, Music, Retailer, Social media, Introduction HMV, which...
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...an attempt to reap the potential profits of the emerging online music industry, Sonic Records has established esonic, a subsidiary exclusively designed to serve as an online music store. In the wake of mounting anti-piracy campaigns concerning music downloads, increased demand for digital technologies that offer greater access and mobility, and an overall increase in consumer demand for access to digital media, esonic has a more than favorable forecast of success in entering the digital music market. Despite fierce competition from established online music providers such as Apple’s iTunes and Napster, esonic will find more than enough room for growth. Through strategic alliances with software and hardware technology firms, esonic can further magnify its reach and appeal to become a digital music industry giant. A unique opportunity presents itself to esonic: it can learn from and avoid the mistakes of digital music industry pioneers, whilst simultaneously mimicking elements of successful strategies at the rapid pace that an online music store with relatively little operating costs can provide. Designing a competitive business strategy remains imperative, however, and the success of esonic will be dependent on its ability to adequately recognize opportunities for growth. Growth in global spending and a naturally expanding digital distribution market invites esonic to capitalize on the digital music industries in foreign markets. Studies have shown the most significant growth...
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...Courtney Mustoe Does Rap music Misrepresent African Americans? There are many genera’s in today’s music world. Depending on who a person is, and what their emotions may be, there will always be a song or genera that one can relate to. Some music helps us relax, while others help us to get pumped up. Other music helps us study while some get us ready to party. Music can create closeness with a significant other while sometimes it can relate to our sorrows of a breakup. It can make us happy when we are sad, while in curtain circumstances make us sad when we are happy. Music can take over our thoughts and emotions that create a story we can relate to or a story we are unfamiliar with. It can take us down a street we have never been before. In some aspects this could be a problem. Some listeners might think all country singers are hicks from the south or mid west. Many might assume every punk rocker is a rebellious Goth. So if these presumptions can be made, what is there to stop people from letting a genera of music represent a certain race in our society today? In the past, music was limited by certain branches of music that could air on the radio and one genera in particular, rap, had to fight its way through the music industry to be heard. Its roots came from the hip-hop culture which includes rapping, graffiti, break dancing, DJing (audio mixing or scratching) ect. After rap was recognized, over the years, changes within the music industry and what the media focuses...
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... 12 9. Appendix 13 Executive Summary This company is named iMusic, which provides a source for legal and MP3 downloads. It is possible to download MP3 from thousands of artists. The pricing policy provides unlimited downloads for all members. This platform also enables artists to distribute and promote their music. The company expects that the music industry is changing with the change of distribution. The main significant changes are from CD-ROM, the Internet and wireless network access to digital format and physical format. This change is taking place as the result of universal and personal computers and portable digital music players such as Apple's iPod and iTunes, and the proliferation of consumer acceptance and recognition of the legitimate digital music sales. However, the digital music...
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...|Issue domain |Event or trend |Active stakeholder(s) |Potential significance | |Social |Music is very popular, especially |Consumers |A huge market of music tends to make a product that is not payed | | |among young people but they don’t |Record companied |for. Record companied loose money beacuse of piracy. Beginning | | |feel obliged to pay for digital | |artists may suffer because companies prefer to work with famous | | |music (which could be downloaded | |artists who are profitable despite piracy. (1) | | |from i-net) | | | |Alison Wenham, chair of WIN, says: "Most artists who want to make a career from their music still seek a recording deal. They want to be introduced to the | |best producers, sound engineers and session musicians in the business. They need financial support and professional help to develop marketing and promotional | |campaigns." Research conducted with the Unsigned Guide in the UK found 70 per cent of unsigned acts wanted a recording contract. The top drivers for | |wanting a recording contract are marketing and promotional...
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...program that allowed computer users to share high quality digital copies of music recordings through a centralized file server. Napster functioned as a sort of clearing house, where members could search for songs and download them from another member’s hard drive. Barely a year after its launch, Napster was sued by the Recording Industry Association of America (RIAA), which represents major recording companies. Napster was accused of violating copyright by facilitating other peoples’ infringement, since it allowed users to swap music recordings for free and thus not properly compensating the owners of the material. 2- What is positive contribution of Napster to the music industry? The RIAA claimed that song swapping via Napster and similar firms had cost the music industry more than $ 300 million in lost sales. Lars Ulrich, Metallica’s drummer, stated that users are basically stealing from the band every time they download one of its songs. Despite of threats to the music industry that the RIAA claimed because of the online sharing of music files that was pioneered by Napster; the growth in the online music market has been remarkable and is expected to explode over the years. The researches and surveys conducted on the effects of online music distribution revealed that the online market provided more positive contribution to the music industry than threats. A research found that 65 per cent of music downloaders said that listening to a song online had prompted them to later...
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...editorial contributions on earlier drafts of this media policy brief. We are also grateful for the research and organizational assistance of our resourceful and talented interns: Dorota Kazcuba, Nate Vaagen, Ben Murray, Davide Morisi and Liam O’Neill. In addition, Jim Killock and Mark Margarattan contributed to stimulating discussion during the project’s expert meeting on ‘File-sharing, the DEA and its implementation’. The LSE Media Policy Project is funded by the Higher Education Innovation Fund 4. LSE Media Policy Project Series Editors Zoetanya Sujon and Damian Tambini Creative Commons copyright licence, Attribution-NonCommercial. This license lets others remix, tweak, and build upon your work non-commercially, and although their new works must also acknowledge you and be non-commercial, they don’t have to license their derivative works on the same terms. March 2011. LSE Media Policy Project. http://blogs.lse.ac.uk/mediapolicyproject/ 1 LSE Media Policy Project: Media policy brief 1 Creative destruction and copyright protection Key Messages o The DEA gets the balance between copyright enforcement and innovation wrong. The use of peer-to-peer technology should be encouraged to promote innovative applications. Focusing on efforts to suppress the use of technological advances and to protect out-of-date business models will stifle innovation in this industry. o Providing user-friendly, hassle-free...
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