...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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...Economics Michael Jackson Mid-term Paper The Luxurious Music Industry The music industry is an industry that works for you as well as against you depending on what role you play. The way the music industry works in the present time is far from how it used to run before the invention of mp3’s. Before 1999 the industry was worth about twenty billion dollars. Now the industry is only worth about four billion dollars due to the piracy of mp3’s. Nevertheless, the mp3 is one of the greatest inventions known to man, but it has yet to prove that it can be a moneymaker for the industry because of piracy. The industry has evolved from being an automatic moneymaker to every artist striving for sales. When an artist makes a record the record company gives them an advance. This means that the record company gives the artist money to make the record before any sales are made. No matter the type of artist, or how popular the music is since mp3’s were created, it’s almost been impossible to make profit. Even though artists are selling their music, they aren’t selling enough to gain recoupment from their advances. This hurts artists because they have to repay the record company all the money that was given in advance. The RIAA is the recording industry association of America. They review album sales for the year and compare them to previous years. They also are the main part of the industry that is trying to preserve artists’ music. Under the RIAA’s review of last year’s end shipment data...
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...Hastings From: Riki Kotaka Subject: How do music companies address the issue the music sales has been declining? Introduction Music is essential for our lives, however it is difficult for those who get involved with music industry to make a profit. Music industry has been shrinking since 1999 when Napster, pioneering music file share service, was founded [1 McCormick]. In 1990’s when the music sales were at the peak, the total global music revenue was around $30 billion, but the one in 2012 was only $16.5 billion [2 Pfanner]. I did summer internship at Sony Music Entertainment in Tokyo for a month. I’ve participated in some meetings to consider marketing plans for musicians. One main reason of the sales declination is an illegal downloading. Although laws prohibit illegal downloading, there are still massive illegal downloading websites on the Internet. However, global music sales in 2012 increased for the first time since 1999, and the number of songs downloaded illegally was declined to 210 million in comparison to 1.2 billion in 2008. [3 Sherwin] It seems that music companies finally found some efficient ideas to overcome illegal downloaders. Do music companies actually increase their profits? And how did music companies start adjusting the situation? The purpose of the research paper is to figure out the main reasons why music sales finally increased, any differences to market music products and if the situation of music companies and musicians has improved or not...
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...Executive Summary The music industry has experienced dramatic shocks that will ultimately transform its structure. The transformations have been sparked by new technologies and Internet use distributing music as a digital good. The MP3 audio format and the wide distribution network that has become available via the Internet are driving changes in the recorded music market structure and, thus, are simultaneously having significant impacts on the players in the traditional recorded music value chain. Global retail sales of recorded music dropped from $39.8Bn in 1996 to $38.5Bn in 1999 while the popularity of digital music has grown. This reflects digital music's new role as a "strategic necessity" of the music industry. It is obvious that the digital music format is here to stay and, indeed, is quickly becoming the preferred product choice of music customers. Our group will examine the internal and external factors responsible for shaping this new marketplace and analyze BMG's roles in the move to distribution of digital music. Financial Analysis BMG Entertainment, a subsidiary of Bertelsmann media, is a privately held company; therefore we can not study its market performance. However they do release financial statements to the public allowing industry performance to be measured (See Figure 1). To measure BMG's financial health and profitability three tests were performed. These tests were also applied to the other major players in the music industry. An excellent way...
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...Jobs In The Music Industry There are lots of different roles within the music industry that makes it run successfully. There are jobs behind the scenes that get overlooked. For example, festivals won’t be festivals without an audience. So the festival organisers have to ask the bands to perform and they have to promote the festival in order for people to buy tickets and turn up. There is more to music than going up on to a stage and playing because there is a lot more planning that goes into it than people think. Live Performance In live performance, an artist must take marketing and advertising of the event into consideration. The best and most effective way to advertise an artist is by using social media. By doing this, barely any work is being done but the artists’ work is being spread massively using the internet making a bigger audience and gaining more fans. Tour managers make sure a concert tour run correctly. They look after tour finances and make sure everyone is doing what they are meant to be doing and generally making sure that everyone on tour is on task. Tour managers also deal with personal problems for people on tour with the artist and they make sure people are okay and happy. Events managers jobs is to make sure that the event is well planned, and that the jobs are carried out according to those plans. The job could involve finding acts to perform and find a well suited venue. They make sure the gear travels safely from place to place...
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...Sony Music Entertainment and the Evolution of the Music Industry Table of Contents Table of Contents…………………………………………………………………………………............................2 Recommendations…………………………………………………………………………………………………………..3 Appendix 1………………………………………………………………………………………….…………………………. 5 Appendix 2………………………………………………………………………………………….…………………………. 11 Appendix 3…………………………………………………………………………………………………………………….. 13 Appendix 4………………………………………………………………………………………….…………………………. 15 Appendix 5………………………………………………………………………………………….…………………………. 16 Appendix 6………………………………………………………………………………………….…………………………. 17 Appendix 7………………………………………………………………………………………….…………………………. 17 Appendix 8………………………………………………………………………………………….…………………………. 18 Appendix 9………………………………………………………………………………………….…………………………. 20 Appendix 10……………………………………………………………………………………….…………………………..21 Appendix 11……………………………………………………………………………………….…………………………..21 2 Recommendations 1. I recommend Sony continues to fight for market share in the digital media segment by investing in improvements to address the low, 3 star rating of its streaming service to allow it to compete with the large competitors, Spotify and Pandora. In 2014, The three main methods of digital music distribution included digital download, Internet radio, and interactive streaming. (Appendix 1) Sony’s operating income increased for the first time in 4 years due mainly to lowering costs and growth in digital revenue. As revenue from digital increases, Sony should...
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...on the Music Industry: Downloadable Music VS. Records Table of Contents * Introduction 3 * Music Label Industry Analysis 5 * EMI Group Unlimited Business Description 7 * Record Label Business Model 8 * Record Label History 10 * Record Label SWOT Analysis 11 * Downloadable Music Business Description 14 * Downloadable Music Business Model 14 * Downloadable Music History 15 * Competing Online Services 15 * Financial Analysis 16 * The Future of The Music Industry 19 * Conclusion 21 * References 21 The Impact of the Internet on the Music Industry: The Record Label VS. Downloadable Music It was only a short time ago that record stores like Specs and FYE were littered across the country, stocked from wall to wall with all the latest albums from your favorite bands and all sorts of music paraphernalia. People like me would have stacks of compact discs or binders full of the music they owned ready to go wherever they went. Before them there were cassette tapes, and before that vinyl records. If you were lucky enough to be a signed musician, you were a star destined for fame and fortune with thousands if not millions of loyal supporters buying your album and following you on tour. Most importantly for the purpose of this paper, the record labels were some of the wealthiest companies in the entertainment industry. The...
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...the Music Industry As Albert Moran puts it, “film is an economic commodity as well as a cultural good” (Albert Moran, 1996) and therefore, the struggle to dominate the market for films and music has continued for such a long time. These cultural products because of the industrial processes they follow of production, distribution and consumption fall into the category of an industry and are immensely affected by the forces of the market. Distribution is the key factor in determining who would rule the industry as it forms the link between the production of the media goods and their exposure to the target audience. Over the years the cultural industry has evolved imbibing newer technologies and making space for newer companies to make their mark. This process of evolution has been intercepted with changes in its economic and sociological structure owing to the external economic, social and political factors and also technological advancements. Ownership of the media forces to a great extent amounts to a huge control over the global economy and also means greater political and cultural power. Hesmondhalgh, in his book, The Cultural Industries, points out that there has been an "interweaving of change and continuity" in the cultural industry since the 1970s (Hesmondhalgh, 2007). However, this hasn’t ever been a smooth process for the older and established companies who had to face challenges from the new market players. The music industry had to grow from the sheet music days...
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...Ija Quick-Artiste ENC 1101 Instructor Ms. Sullivan 09/17/2013 Useful Writing Skills In The Music Industry Writing in the constant evolving music industry has an attribute about it that will never cease to exist. Whether you’re a producer, engineer, manager, singer, rapper, or songwriter. Writing skills are absolutely crucial in your career. I personally am a singer and songwriter with experience of about 8 years in writing my own music. As a singer it’s not necessarily a make or break skill but it definitely now a days a plus in the market. I do not have any experience in the contract writing field but songwriting skills are always useful. I have the skills to write or co-write for other artist and create a better name for myself with my writing abilities. With my experience I will go on to learn the ins and outs of copywriting infringement to protect my craft. Hull, G. P., Hutchison, T. W., & Strasser, R. (2011) stated that “The music business in general, particularly the recording industry runs on its copyrights” (p.51) so I am positive that those skills will be more than useful. Learning the technicalities of contracts will be put to use in my career or in use of someone else’s if I choose to manage talent. I will also apply my writing skills to social media, though social media is not absolutely grammar specific. Venti (2010) specified, “How you interact on these forums will determine how your fans view you”. Which is a very true statement, staying...
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...Shawn Mendes | If musicians don’t make money eventually they will give up music | Independent artists have a chance to make a career without the backing of a record company | Payments from streaming services are minuscule compared to record company payments | Convergent technologies enable artists to connect directly with the fans and build more meaningful relationships | Artists have had to branch out into other areas to create marketing and finance opportunities - some 360 degree deals | You can consume music from a wider range of sources than ever before | Audiences can now buy individual songs which affects album sales | The long tail enables the audience to access a wider range of music than ever before | Piracy was an issue but Streaming payments have also affected artists | | Business side of the industry | | | Amanda Palmer: * Signed to a major record label, from her advancement she only sold 25,000 copies but left with $250,000 debt * She pledged on Kickstarter to crowd fund her next album - target was $100,000 * She received $1.2 million from 25,000 people * She payed back her debt and then produced album that she gave out for frees * “If you connect with your audience you encourage them to pay” * Internet allows you to connect to people * “The music industry has been asking the wrong question they should ask how do we let people pay for music not force...
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...The music industry has been revolutionized by the innovations brought about by technology. It is time where artistes and musicians specifically are facing challenges with regards to ownership of their music which has been invaded by people from all over the world. A while ago before the technological breakthrough musicians used to get ownership of their music fully by targeting the main avenues that channeled their music to the masses. This proved to be very easy and simpler for the musicians but in the wake of the technological revolution the situation has drastically changed. The issue of ownership has become a debate topic and very little progress is made with regards to solving the particular issue. The technological invention has cut off...
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...Writing : Wite me a song (app) A app that can offer people who want to write themselves music but know nothing about music writing. In this app, people can sing a melody and then the app recognize it as a sound records. Then the system transfer it into sheet music and make rhythm, harmony, orchestrate and arrangement for you and helping produce your own music. Collaboration: Music collaborator (Website Platform) Offering platform for music writers and lyric writers to match their music production together. For example, if one wrote a poem and wants to send his girlfriend this poem as a song, he will use the web to find a music that matches his poem or find a music writer to help him wiring a music. Recording: Self-make music video studio Offer people a place and instrument for them to create their own music videos. Targeting to the music amateur and their friends that has the need to create music videos and have fun in making themselves the video during the process. It’s more like a place for offering amazing experience that produce high valued products. 2. Control Legal : Protection association of online musician rights and interests Since more and more musicians are becoming a independent online music producers, they create music online, distributing and publishing their music through some music programs. The association is targeting specially to the online musician and their music by giving their protection about their legal rights and interests. 3. Build Manufacturing:...
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...iApple Computer, Inc.: Maintaining the Music Business While Introducing iPhone and Apple TV INTRODUCTION According to Apple Computer's 2007 10-K Annual Report, "The Company is committed to bringing the best personal computing, portable digital music and mobile communication experience to students, educators, creative professionals, businesses, government agencies, and consumers through its innovative hardware, software, peripherals, services, and Internet offerings." The company's 2005 Mission Statement reads: Apple Computer is committed to protecting the environment, health and safety of our employees, customers and the global communities where we operate. We recognize that by integrating sound environmental, health and safety management practices into all aspects of our business, we can offer technologically innovative products and services while conserving and enhancing resources for future generations. Apple strives for continuous improvement in our environmental, health and safety management systems and in the environmental quality of our products, processes and services. In recognition of current market trends, Steve Jobs has claimed that he wants to transform the company by making the Mac the hub of the consumers’ digital lifestyle. Despite Apple Computer's recent successes, the company is facing an ever-changing competitive environment on multiple fronts. 1. What are the key strategic challenges facing Apple Computer? 2. What are some of the dimensions...
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...Revenue in the Music Industry There is one major change in technology that has been in discussion for years, and that is the comparison between the revenues of digital music that can be obtained through the internet to that of CD’s. There is also discussion of what the future may hold for the music industry. The International Federation of the Phonographic Industry (IFPI) has recently stated that there has been an 8 percent increase in global revenue for digital music in 2011 which is a $5.2 billion dollar increase from last year. Because of this increase that means there has to be a decrease somewhere, the decrease is found in the decline in sales of physical formats (CD’s), this market has dropped to 3 percent which is about $16.2 billion dollars. There is belief that in the future all physical formats of music will be a thing of the past and everything will be found digitally. The reason for this belief is that downloads of single digital tracks (which Apple iTunes capitalized on) rose to 11 percent in volume and digital albums rose to 24 percent. There is also discussion of what subscription music services such as Rhapsody, Spotify and Deezer have done to the music industry and its revenue. With these subscription music services there has been a 64 percent increase of subscribers since 2010 and a $13.4 million dollar increase. Recently the US has proposed two laws that could put an end to peer to peer sharing, the Stop Online Piracy Act (SOPA) and Protect Intellectual...
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...So making an album worthy of the name meant recording, and then discarding, dozens of extra songs. "Calling it The Marshall Mathers LP 2, obviously I knew that there might be certain expectations," he says. "I wouldn't want to call it that just for the sake of calling it that. I had to make sure that I had the right songs – and just when you think you got it, you listen and you're like, 'Fuck, man! I feel like it needs this or that,' to paint the whole picture." Some tracks, including the Rick Rubin-produced, Beastie-esque single "Berzerk," draw on old-school hip-hop. Eminem was already headed that way when his manager, Paul Rosenberg, hooked him up with Rubin. "Getting with him was like, 'Holy shit!'" says Eminem. "As many genres of music that he is able to fuck with, he's like Yoda. I couldn't do it. You sit me there with a rock group, I don't know the first fucking thing about banging on the drums." Eminem emphasizes that the album, which includes collaborations with Kendrick Lamar, Nate Ruess and Rihanna (again), is "not necessarily a sequel, as much as it is a revisitation. "So there's not gonna be, like,...
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