THE IMPACT OF RAPID TECHNOLOGICAL DEVELOPMENTS ON THE MUSICINDUSTRY: THE CASE OF GREECEAthens, 12 May 2013THE IMPACT OF RA...
THE IMPACT OF RAPID TECHNOLOGICAL DEVELOPMENTS ON THE MUSICINDUSTRY: THE CASE OF GREECEAthens, 12 May 2013HELLECIC OPEN UN...
THE IMPACT OF RAPID TECHNOLOGICAL DEVELOPMENTS ON THE MUSICINDUSTRY: THE CASE OF GREECEAthens, 12 May 2013HELLECIC OPEN UN...
THE IMPACT OF RAPID TECHNOLOGICAL DEVELOPMENTS ON THE MUSICINDUSTRY: THE CASE OF GREECEAthens, 12 May 2013HELLECIC OPEN UN...
THE IMPACT OF RAPID TECHNOLOGICAL DEVELOPMENTS ON THE MUSICINDUSTRY: THE CASE OF GREECEAthens, 12 May 2013HELLECIC OPEN UN...
THE IMPACT OF RAPID TECHNOLOGICAL DEVELOPMENTS ON THE MUSICINDUSTRY: THE CASE OF GREECEAthens, 12 May 2013HELLECIC OPEN UN...
THE IMPACT OF RAPID TECHNOLOGICAL DEVELOPMENTS ON THE MUSICINDUSTRY: THE CASE OF GREECEAthens, 12 May 2013HELLECIC OPEN UN...
THE IMPACT OF RAPID TECHNOLOGICAL DEVELOPMENTS ON THE MUSICINDUSTRY: THE CASE OF GREECEAthens, 12 May 2013HELLECIC OPEN UN...
THE IMPACT OF RAPID TECHNOLOGICAL DEVELOPMENTS ON THE MUSICINDUSTRY: THE CASE OF GREECEAthens, 12 May 2013Production The ...
THE IMPACT OF RAPID TECHNOLOGICAL DEVELOPMENTS ON THE MUSICINDUSTRY: THE CASE OF GREECEAthens, 12 May 2013HELLECIC OPEN UN...
THE IMPACT OF RAPID TECHNOLOGICAL DEVELOPMENTS ON THE MUSICINDUSTRY: THE CASE OF GREECEAthens, 12 May 2013HELLECIC OPEN UN...
THE IMPACT OF RAPID TECHNOLOGICAL DEVELOPMENTS ON THE MUSICINDUSTRY: THE CASE OF GREECEAthens, 12 May 2013HELLECIC OPEN UN...
THE IMPACT OF RAPID TECHNOLOGICAL DEVELOPMENTS ON THE MUSICINDUSTRY: THE CASE OF GREECEAthens, 12 May 2013HELLECIC OPEN UN...
THE IMPACT OF RAPID TECHNOLOGICAL DEVELOPMENTS ON THE MUSICINDUSTRY: THE CASE OF GREECEAthens, 12 May 2013HELLECIC OPEN UN...
THE IMPACT OF RAPID TECHNOLOGICAL DEVELOPMENTS ON THE MUSICINDUSTRY: THE CASE OF GREECEAthens, 12 May 2013HELLECIC OPEN UN...
THE IMPACT OF RAPID TECHNOLOGICAL DEVELOPMENTS ON THE MUSICINDUSTRY: THE CASE OF GREECEAthens, 12 May 2013 Limited availa...
THE IMPACT OF RAPID TECHNOLOGICAL DEVELOPMENTS ON THE MUSICINDUSTRY: THE CASE OF GREECEAthens, 12 May 2013HELLECIC OPEN UN...
THE IMPACT OF RAPID TECHNOLOGICAL DEVELOPMENTS ON THE MUSICINDUSTRY: THE CASE OF GREECEAthens, 12 May 2013HELLECIC OPEN UN...
THE IMPACT OF RAPID TECHNOLOGICAL DEVELOPMENTS ON THE MUSICINDUSTRY: THE CASE OF GREECEAthens, 12 May 2013HELLECIC OPEN UN...
Upcoming SlideShare
Loading in …5
×

"THE IMPACT OF RAPID TECHNOLOGICAL DEVELOPMENTS ON THE MUSIC INDUSTRY: THE CASE OF GREECE"

1,618 views

Published on

The use of new technologies is something that has always influenced developments within the music industry. This paper examines, first, the extent to which technology affects the very existence of this industry, within an ever-changing economic environment. Secondly, it explores the areas within the music industry that have been most affected by this new technology, and thirdly, the views of people involved in it. The purpose of this paper is to present the economic impact, whether positive or negative, on the technological sectors of the music industry, based on specific literature and the use of a questionnaire distributed to 50 people from various professional backgrounds in the Greek music industry.
It gives a presentation of the overall situation of the music industry and the impact of technological developments on individual sectors of the music industry today throughout the world. Meanwhile, it focuses more specifically on the state of the music industry in Greece and looks at the implications of the use of technology in areas such as production, distribution, promotion and consumption.
Finally, it concludes by making recommendations and suggestions to improve the overall effectiveness of the music industry in Greece, both in terms of financial results and from the consumer's point of view.

Published in: Education, Business
  • Be the first to comment

"THE IMPACT OF RAPID TECHNOLOGICAL DEVELOPMENTS ON THE MUSIC INDUSTRY: THE CASE OF GREECE"

  1. 1. THE IMPACT OF RAPID TECHNOLOGICAL DEVELOPMENTS ON THE MUSICINDUSTRY: THE CASE OF GREECEAthens, 12 May 2013THE IMPACT OF RAPID TECHNOLOGICALDEVELOPMENTS ON THE MUSIC INDUSTRY: THECASE OF GREECEPetros FountoukidisHELLECIC OPEN UNIVERSITYSCHOOL OF SOCIAL SCIENCE, MBA-MASTERS IN BUSINNESS ADMINISTRATION
  2. 2. THE IMPACT OF RAPID TECHNOLOGICAL DEVELOPMENTS ON THE MUSICINDUSTRY: THE CASE OF GREECEAthens, 12 May 2013HELLECIC OPEN UNIVERSITYSCHOOL OF SOCIAL SCIENCE, MBA-MASTERS IN BUSINNESS ADMINISTRATIONThe purpose:-Το present the economic impact, whether positive or negative, on the technologicalsectors of the music industry.Examine:-the extent to which technology affects the very existence of this industry-explores the areas within the music industry that have been most affected by thisnew technology-the views of people involved in itMethodology:-empirical study-use of a questionnaire about the case study of Greece-The findings are analyzed according to the literature reviewResults:-Αppraisal-Conclusions-Recommendations
  3. 3. THE IMPACT OF RAPID TECHNOLOGICAL DEVELOPMENTS ON THE MUSICINDUSTRY: THE CASE OF GREECEAthens, 12 May 2013HELLECIC OPEN UNIVERSITYSCHOOL OF SOCIAL SCIENCE, MBA-MASTERS IN BUSINNESS ADMINISTRATIONChapter 1: IntroductionChapter 2: The structure of the music industry todayHow technological achievements have affected the industryHow the industry has adapted and responded to this new environmentChapter 3: The reason of the data collectionThe size of the sampleThe methods adopted to collect the dataThe structure of the questionnaireChapter 4: The research findingsThe research findings and their implicationsChapter 5: The conclusions, limitations and recommendations
  4. 4. THE IMPACT OF RAPID TECHNOLOGICAL DEVELOPMENTS ON THE MUSICINDUSTRY: THE CASE OF GREECEAthens, 12 May 2013HELLECIC OPEN UNIVERSITYSCHOOL OF SOCIAL SCIENCE, MBA-MASTERS IN BUSINNESS ADMINISTRATIONThe music industry is comprised of a very widespread anddiverse network of businesses which are all connected by theselling of the same product; the music or brand of the artist.The basic participants in the industry coordinate their efforts inorder to sell the product to the consumer.Important distinctionThe recording business ≠ The music industry
  5. 5. THE IMPACT OF RAPID TECHNOLOGICAL DEVELOPMENTS ON THE MUSICINDUSTRY: THE CASE OF GREECEAthens, 12 May 2013HELLECIC OPEN UNIVERSITYSCHOOL OF SOCIAL SCIENCE, MBA-MASTERS IN BUSINNESS ADMINISTRATIONField Effect ImpactThe productionsystemTechnological development has changed thelocation of production from the commercialrecording studio to the computer-based homeset-up.The decrease inthe costPromotionTaking part in direct marketing, using tools suchas cell phones, artist websites, pod casting,internet radio and even video games.Transfer ofpromotion fromlabels to artiststhemselvesDistributionChange of model=from physical product todigital productDifferent model,from costintensive to costeffectiveConsumption Purchases from homeEasieraccessibility tomusic
  6. 6. THE IMPACT OF RAPID TECHNOLOGICAL DEVELOPMENTS ON THE MUSICINDUSTRY: THE CASE OF GREECEAthens, 12 May 2013HELLECIC OPEN UNIVERSITYSCHOOL OF SOCIAL SCIENCE, MBA-MASTERS IN BUSINNESS ADMINISTRATIONHow technology has affected an average consumers enjoyment of musiccompact devices like smart phones, iPods, ipads, tabletsthe immediate access to the musiclive streaming mediaEasier accessibility to musicproducts
  7. 7. THE IMPACT OF RAPID TECHNOLOGICAL DEVELOPMENTS ON THE MUSICINDUSTRY: THE CASE OF GREECEAthens, 12 May 2013HELLECIC OPEN UNIVERSITYSCHOOL OF SOCIAL SCIENCE, MBA-MASTERS IN BUSINNESS ADMINISTRATIONHow technology has affected themeasy access to an independent global networkinstant publicationeasy communication with the potential consumers(=audience)reduction of production costArtists exploit more range ofmarkets than through the recordcompany way.
  8. 8. THE IMPACT OF RAPID TECHNOLOGICAL DEVELOPMENTS ON THE MUSICINDUSTRY: THE CASE OF GREECEAthens, 12 May 2013HELLECIC OPEN UNIVERSITYSCHOOL OF SOCIAL SCIENCE, MBA-MASTERS IN BUSINNESS ADMINISTRATIONBefore the changes After the changesSupplier groups hold all thepowerBuyer hold the majority ofpower
  9. 9. THE IMPACT OF RAPID TECHNOLOGICAL DEVELOPMENTS ON THE MUSICINDUSTRY: THE CASE OF GREECEAthens, 12 May 2013Production The classic music industry business model : the massproductionPromotion Collaboration with other media companies(telecommunication operators, TV)Consumption paradox phenomenon. Consumers "refuse" to buy themusic product but willing to pay to see a live performance.Distribution Other channels to boost sales:• supermarkets• funded new chain stores• individual tracks to mobile phone companies• newspapersHELLECIC OPEN UNIVERSITYSCHOOL OF SOCIAL SCIENCE, MBA-MASTERS IN BUSINNESS ADMINISTRATIONGreece was always a step behind, compared with therest of Europe, in adoption of technology infrastructureand advanced information systems
  10. 10. THE IMPACT OF RAPID TECHNOLOGICAL DEVELOPMENTS ON THE MUSICINDUSTRY: THE CASE OF GREECEAthens, 12 May 2013HELLECIC OPEN UNIVERSITYSCHOOL OF SOCIAL SCIENCE, MBA-MASTERS IN BUSINNESS ADMINISTRATIONFocuses on anempirical studyGeneral pictureof thecompetitionindustry throughPorter’s analysisDistribution of aquestionnaireResults/Findings
  11. 11. THE IMPACT OF RAPID TECHNOLOGICAL DEVELOPMENTS ON THE MUSICINDUSTRY: THE CASE OF GREECEAthens, 12 May 2013HELLECIC OPEN UNIVERSITYSCHOOL OF SOCIAL SCIENCE, MBA-MASTERS IN BUSINNESS ADMINISTRATIONOnline web survey – Questionnaire 50 people part of the music industry Gathering of the data:October 23rd 2012-November 28th 2012
  12. 12. THE IMPACT OF RAPID TECHNOLOGICAL DEVELOPMENTS ON THE MUSICINDUSTRY: THE CASE OF GREECEAthens, 12 May 2013HELLECIC OPEN UNIVERSITYSCHOOL OF SOCIAL SCIENCE, MBA-MASTERS IN BUSINNESS ADMINISTRATIONConsumers behavior = The majority of the participants in the surveyshow that they are already in the digital era.
  13. 13. THE IMPACT OF RAPID TECHNOLOGICAL DEVELOPMENTS ON THE MUSICINDUSTRY: THE CASE OF GREECEAthens, 12 May 2013HELLECIC OPEN UNIVERSITYSCHOOL OF SOCIAL SCIENCE, MBA-MASTERS IN BUSINNESS ADMINISTRATION Considering innovations: iTunes, Social Streaming and Cloudtechnology Better approach to the consumers: Stop music consumersdemonized as “pirates”What is missing from the music industry?Frequency Valid PercentBeing realistic 9 18Innovation 17 34Better approach to theconsumers 8 16Feeling 1 2Free music TV 2 4Money to artists 3 6Something else 5 10Quality 5 10Total 50 100
  14. 14. THE IMPACT OF RAPID TECHNOLOGICAL DEVELOPMENTS ON THE MUSICINDUSTRY: THE CASE OF GREECEAthens, 12 May 2013HELLECIC OPEN UNIVERSITYSCHOOL OF SOCIAL SCIENCE, MBA-MASTERS IN BUSINNESS ADMINISTRATION
  15. 15. THE IMPACT OF RAPID TECHNOLOGICAL DEVELOPMENTS ON THE MUSICINDUSTRY: THE CASE OF GREECEAthens, 12 May 2013HELLECIC OPEN UNIVERSITYSCHOOL OF SOCIAL SCIENCE, MBA-MASTERS IN BUSINNESS ADMINISTRATION
  16. 16. THE IMPACT OF RAPID TECHNOLOGICAL DEVELOPMENTS ON THE MUSICINDUSTRY: THE CASE OF GREECEAthens, 12 May 2013 Limited available timeThe amount of material & publications concerningthe subjectSelection of participants (small sample)HELLECIC OPEN UNIVERSITYSCHOOL OF SOCIAL SCIENCE, MBA-MASTERS IN BUSINNESS ADMINISTRATION
  17. 17. THE IMPACT OF RAPID TECHNOLOGICAL DEVELOPMENTS ON THE MUSICINDUSTRY: THE CASE OF GREECEAthens, 12 May 2013HELLECIC OPEN UNIVERSITYSCHOOL OF SOCIAL SCIENCE, MBA-MASTERS IN BUSINNESS ADMINISTRATIONproductionpromotiondistributionconsumptionBy artists themselvesDirect marketing throughtechnological advancesThrough digital meansDigital era will continue
  18. 18. THE IMPACT OF RAPID TECHNOLOGICAL DEVELOPMENTS ON THE MUSICINDUSTRY: THE CASE OF GREECEAthens, 12 May 2013HELLECIC OPEN UNIVERSITYSCHOOL OF SOCIAL SCIENCE, MBA-MASTERS IN BUSINNESS ADMINISTRATION larger sample legal aspect of the music industry could be exploredin more detail Specific parts of technological impact, such as livestreaming For Greece the lack of research in this field, thissubject clearly lends itself to further study
  19. 19. THE IMPACT OF RAPID TECHNOLOGICAL DEVELOPMENTS ON THE MUSICINDUSTRY: THE CASE OF GREECEAthens, 12 May 2013HELLECIC OPEN UNIVERSITYSCHOOL OF SOCIAL SCIENCE, MBA-MASTERS IN BUSINNESS ADMINISTRATIONThank you for your attentionPetros Fountoukidis

×