The Economics Of Music

The music industry is one of the most dynamic business sectors. It has had to evolve and adapt to continually changing technologies and business models. Its latest challenge has been Covid-19 and the loss of live music at a time when live performance outstrips music sales as the primary source of income for today's artists. The second edition of this much used introduction to the economic workings of the music business explores the impact of the pandemic at every level of the sector and considers how the business model may need to change going forward as different stakeholder positions shift. The new edition also examines new trends in the music industry such as the increasing dominance of tech companies and data, the increasing importance of CMOs as market players, the increased role of artist management, which has impacted on new business contracts, as well as changes to how we use music in our everyday lives and how this impacts on new entrepreneurial behaviours around music.

"The book offers insight into the diversity of composers' economic aspirations, the strategies through which they pursued such success, the burgeoning music publishing industry, and the emergence of copyright protection. This account is directed toward individuals intrigued by the world of classical composers as well as those interested in economic history of the role of money in art."--Jacket.

This open access book offers an interdisciplinary perspective and presents various case studies on music as ICH, highlighting the importance and functionality of music to stimulating social innovation and entrepreneurship., Intangible Cultural Heritage (ICH) covers the traditions or living expressions proposed by the 2003 Convention for the Safeguarding of the Intangible Cultural Heritage in five areas, including music. To understand the relationship between immaterial and material uses and inherent cultural landscapes, this open access book analyzes the symbolic, political, and economic dimensions of music. The authors highlight the continuity and current functionality of these artistic forms of expression as well as their lively and changing character in continuous transformation. Topics include the economic value and impact of music, strategies for social innovation in the music sector, music management, and public policies to promote cultural and creative industries. [Resumen de la editorial]

Much recent economic work on the music industry has been focused on the impact of technology on demand, with predictions being made of digital copyright infringement leading to the demise of the industry. In fact, there have always been profound cyclical swings in music media sales owing to the fact that music always has been, and continues to be, a discretionary purchase. This entertaining and accessible book offers an analysis of the production and consumption of music from a social economics approach. Locating music within the economic analysis of social behaviour, this books guides the reader through issues relating to production, supply, consumption and trends, wider considerations such as the international trade in music, and in particular through divisions of age, race and gender. Providing an engaging overview of this fascinating topic, this book will be of interest and relevance to students and scholars of cultural economics, management, musicology, cultural studies and those with an interest in the music industry more generally.

The Economics of Music provides a concise and rigorous presentation of the economics of the music business.

This book charts the effects of new communication technologies and the Internet on the creation of music in the early 21st century. It examines how the music industry will be altered by the Internet, music online services and MP3-technology. This is done through an integrated model based on an international history of the industry since the phonograph’s invention in 1877, and thus, the history of the music industry is described in full detail for the first time.

A stunning new insight into how the most crucial lesson you can learn in today's challenging business environment is how to change the fundamentals of what you do, rather than carry on fighting a battle that is already lost. The near destruction of the music industry at the hands of online piracy and its subsequent recovery on the backs of digital streaming platforms is more than just the biggest story of disruption and reinvention of the digital age. It is also a trove of insights on how to confront the metamorphosis we are all facing in dealing with the Covid-19 era, as accelerating tech and economic changes reshape our work, our play and our very minds. Will Page, Spotify's first chief economist, extrapolates music's journey into eight guiding principles for pivoting through the ubiquitous disruption in nearly all industries. Expect the unexpected with transferable lessons coming from Starbucks, Tupperware and even Groucho Marx. The notion of 'Tarzan Economics' ties these principles together: a framework for recognising and acting on disruption, by letting go of the old vine and grabbing onto the new. Page joyfully brings these insights to life and provides a guide for knowing not just how to grab the new vine, but when. He assesses the new dynamics of the 'long tail', identifies friends and foes in the battle for scarce attention and provides a practical tool for discovering the right role for each of us to succeed in this new modern world. As we emerge from the unprecedented disruption of a global pandemic, Pivot shows all of us - individuals, organisations and institutions - that if the vine we are holding onto is withering, we can have confidence to reach out for a new one in 2023 and beyond.