The document discusses the impact of the COVID-19 pandemic on the music industry. It notes that while streaming saw a boost due to lockdowns, physical sales, live events, and advertising spending declined sharply. This negatively impacted artists' incomes. Government aid packages helped but long-term effects are uncertain as the industry relies heavily on live performances and events for revenue. Streaming platforms may see continued growth in the future.
Tomorrowland Around The World
Week Four | Market Research | July 19th – July 25th
Prepared by:
Bhargav Choudary Alaparthi
Jorge Bazoberry
Nneka Cullen
Date: July 25, 2021
Marketing Strategies - 202146 - CRN105
Professor: Sharon Styffe
Choose a company that has changed the way they deliver their products/services because of the COVID-19 Pandemic: Tomorrowland
URL: https://www.tomorrowland.com
Research a Company and Provide a YouTube Video That Depicts the Company’s Shift in Target Marketing due to the Pandemic (Bhargav, Nneka & Jorge).
URL: https://www.youtube.com/watch?v=XOeub7d44E4&t=2s
How Did the Company Employ e-commerce and the Use of Social Media Before and In Response to the Pandemic? (Jorge)
When the 2020 pandemic hit, majority of live music events got cancelled including big festivals like Tomorrowland. This particular festival held in Boom, Belgium hosts over 300 hundred artists yearly over two weekends and sells almost half a million tickets to people from every single country in the world. “As arguably the largest festival in the world, it is not a surprise that the tickets for the event sold out within a shocking five minutes this past weekend with approximately 400,000 tickets sold to electronic music fans around the globe.” (Tara, 2020)
Last year due to the horrible circumstances they faced two choices, to remain silent or to make a way to deliver their life-changing experience in a different way.
They announced a livestream like no other. We still remember all the quality streams all artists and promoters were putting up in the spring and summer of 2021, all of them for free. Tomorrowland as the market leader opted to do a ticketed event ($25 per ticket) and take the virtual concert experience to the next level. “2020 was an interesting year for live streaming, marked by its enormous expansion due to the COVID-19 pandemic. Live streaming moved beyond gaming, as music, cultural events, sports, and social commentary became much more popular streaming topics.” (Restream.io. n.d., 2021)
Was it Successful in Responding to the Impact Initially Experienced By the Pandemic? (Jorge)
As seen on the video above, Tomorrowland utilized vanguardist technology to transport the magic of their event to living rooms all around the world. And it paid off greatly. Last year they sold over 1 million tickets to fans all around the globe, some repeat customers and some people who never had access to the brick-and-mortar festival due to financial issues, visa issues or simply because their tickets sold out within minutes after the on-sale every single year due to the high demand (Routte-Note, 2020). “The show was huge, bringing in over 1 million people across the weekend, all of whom had to pay to attend. To “go” to Tomorrowland Around the World it costs €20 for the weekend or €12 for a day ticket. This means that not only was the festival huge ...
Globalization in the music industry has led to consolidation, with a small number of large media companies controlling a majority of the market. This concentration of power allows these companies to influence culture on a global scale. Technological advances have helped spread global media but have not automatically led to a single global culture, as local values still influence how media is interpreted. The music industry has also seen companies grow vertically through acquiring other companies at different stages of production, horizontally by merging with similar companies, and diagonally through diversifying into new business areas.
Pandemic has transformed entertainment industry. In the stay-at-home life, entertainment has become one of the most searched content. Even after this outbreak ends, several new aspects of entertainment will remain and even flourish.
Changes in the entertainment industry are not only important for the industry players but also for other industries that plan to use entertainment as a medium to interact with their consumers.
They need to understand what is hot now and in the trends but still relevant with their target market.
Here are the key roles of entertainment in the 1950s-1960s:
- Radio was a primary source of entertainment, broadcasting live music, shows, and stories. It connected people to artists and actors across the world.
- Television emerged as another major entertainment medium, allowing people to put faces and visuals to the voices they heard on the radio. This brought entertainment into the home.
- Movies flourished during this period, giving people an out-of-home entertainment option. Famous actors and actresses became popular cultural figures.
- Music evolved significantly, with new genres like rock 'n' roll arising and popularizing among youth culture. Major music stars and bands rose to prominence.
- Live
The Music Industry Today & Where is it Heading: Blog PostNova Granite
The music industry has undergone significant changes due to the COVID-19 pandemic. Live events and performances were halted, forcing artists to adapt by livestreaming concerts online. While streaming platforms flourished with increased usage, concert halls, music stores, and other venues struggled without live shows and had to close. The industry is learning to utilize remote technology to connect with fans and make up for lost revenue from live events. As vaccines roll out, live music is starting to return, but the pandemic has permanently changed the industry's reliance on in-person events and interactions.
The document discusses the historical development of the online music industry from the rise of piracy in the 1990s through the introduction of the iPod and iTunes in the early 2000s. It also covers the more recent growth of streaming services like Spotify, the role of social media, and music websites. The digital age has transformed how people consume and discover music, though piracy continues to impact sales. Everyone now uses the internet as their main source of communication, shopping, and entertainment, including both major labels and small independent artists.
- The document analyzes the current market condition of Warner Music Group (WMG) and the music industry, which has been negatively impacted by COVID-19 with projected earnings down 29% for 2020.
- WMG relies heavily on touring and live music income, which has been halted by the pandemic, limiting sources of income to mainly streaming sales. However, vinyl record sales have increased in recent years and could provide an opportunity for additional profits.
- Recommendations include increasing marketing of vinyl record releases from WMG artists to target audiences aged 18-25 to help offset losses from the pandemic's impact on the music industry.
Tomorrowland Around The World
Week Four | Market Research | July 19th – July 25th
Prepared by:
Bhargav Choudary Alaparthi
Jorge Bazoberry
Nneka Cullen
Date: July 25, 2021
Marketing Strategies - 202146 - CRN105
Professor: Sharon Styffe
Choose a company that has changed the way they deliver their products/services because of the COVID-19 Pandemic: Tomorrowland
URL: https://www.tomorrowland.com
Research a Company and Provide a YouTube Video That Depicts the Company’s Shift in Target Marketing due to the Pandemic (Bhargav, Nneka & Jorge).
URL: https://www.youtube.com/watch?v=XOeub7d44E4&t=2s
How Did the Company Employ e-commerce and the Use of Social Media Before and In Response to the Pandemic? (Jorge)
When the 2020 pandemic hit, majority of live music events got cancelled including big festivals like Tomorrowland. This particular festival held in Boom, Belgium hosts over 300 hundred artists yearly over two weekends and sells almost half a million tickets to people from every single country in the world. “As arguably the largest festival in the world, it is not a surprise that the tickets for the event sold out within a shocking five minutes this past weekend with approximately 400,000 tickets sold to electronic music fans around the globe.” (Tara, 2020)
Last year due to the horrible circumstances they faced two choices, to remain silent or to make a way to deliver their life-changing experience in a different way.
They announced a livestream like no other. We still remember all the quality streams all artists and promoters were putting up in the spring and summer of 2021, all of them for free. Tomorrowland as the market leader opted to do a ticketed event ($25 per ticket) and take the virtual concert experience to the next level. “2020 was an interesting year for live streaming, marked by its enormous expansion due to the COVID-19 pandemic. Live streaming moved beyond gaming, as music, cultural events, sports, and social commentary became much more popular streaming topics.” (Restream.io. n.d., 2021)
Was it Successful in Responding to the Impact Initially Experienced By the Pandemic? (Jorge)
As seen on the video above, Tomorrowland utilized vanguardist technology to transport the magic of their event to living rooms all around the world. And it paid off greatly. Last year they sold over 1 million tickets to fans all around the globe, some repeat customers and some people who never had access to the brick-and-mortar festival due to financial issues, visa issues or simply because their tickets sold out within minutes after the on-sale every single year due to the high demand (Routte-Note, 2020). “The show was huge, bringing in over 1 million people across the weekend, all of whom had to pay to attend. To “go” to Tomorrowland Around the World it costs €20 for the weekend or €12 for a day ticket. This means that not only was the festival huge ...
Globalization in the music industry has led to consolidation, with a small number of large media companies controlling a majority of the market. This concentration of power allows these companies to influence culture on a global scale. Technological advances have helped spread global media but have not automatically led to a single global culture, as local values still influence how media is interpreted. The music industry has also seen companies grow vertically through acquiring other companies at different stages of production, horizontally by merging with similar companies, and diagonally through diversifying into new business areas.
Pandemic has transformed entertainment industry. In the stay-at-home life, entertainment has become one of the most searched content. Even after this outbreak ends, several new aspects of entertainment will remain and even flourish.
Changes in the entertainment industry are not only important for the industry players but also for other industries that plan to use entertainment as a medium to interact with their consumers.
They need to understand what is hot now and in the trends but still relevant with their target market.
Here are the key roles of entertainment in the 1950s-1960s:
- Radio was a primary source of entertainment, broadcasting live music, shows, and stories. It connected people to artists and actors across the world.
- Television emerged as another major entertainment medium, allowing people to put faces and visuals to the voices they heard on the radio. This brought entertainment into the home.
- Movies flourished during this period, giving people an out-of-home entertainment option. Famous actors and actresses became popular cultural figures.
- Music evolved significantly, with new genres like rock 'n' roll arising and popularizing among youth culture. Major music stars and bands rose to prominence.
- Live
The Music Industry Today & Where is it Heading: Blog PostNova Granite
The music industry has undergone significant changes due to the COVID-19 pandemic. Live events and performances were halted, forcing artists to adapt by livestreaming concerts online. While streaming platforms flourished with increased usage, concert halls, music stores, and other venues struggled without live shows and had to close. The industry is learning to utilize remote technology to connect with fans and make up for lost revenue from live events. As vaccines roll out, live music is starting to return, but the pandemic has permanently changed the industry's reliance on in-person events and interactions.
The document discusses the historical development of the online music industry from the rise of piracy in the 1990s through the introduction of the iPod and iTunes in the early 2000s. It also covers the more recent growth of streaming services like Spotify, the role of social media, and music websites. The digital age has transformed how people consume and discover music, though piracy continues to impact sales. Everyone now uses the internet as their main source of communication, shopping, and entertainment, including both major labels and small independent artists.
- The document analyzes the current market condition of Warner Music Group (WMG) and the music industry, which has been negatively impacted by COVID-19 with projected earnings down 29% for 2020.
- WMG relies heavily on touring and live music income, which has been halted by the pandemic, limiting sources of income to mainly streaming sales. However, vinyl record sales have increased in recent years and could provide an opportunity for additional profits.
- Recommendations include increasing marketing of vinyl record releases from WMG artists to target audiences aged 18-25 to help offset losses from the pandemic's impact on the music industry.
The American Music Industry5 The Am.docxlillie234567
The American Music Industry 5
The American Music Industry
Jose Andres Bermudez Martinez
Dr. Katie L. Males
Southern States University
MUS305
12/01/2022
Platforms to reach different Audience
The music industry is heavily reliant on large audiences to make more profits and boost product recognition. Today, different musicians struggle with how to make their music popular and how to reach large audience. However, there are a few strategies already working for different musicians that could be replicated by others. One of the popular strategies currently utilized by all musicians to reach audience is streamlining channels and services (Salo et al., 2019). YouTube is currently the leading site for music streaming due to the its global customer base. It has over 3B active subscribers making it an ideal channel to reach large audience. Secondly social media channels such as Tik Tok, Facebook, Instagram, Twitter and Snapchat are currently being used as marketing tools to refer the audience to streaming suites such as YouTube and Spotify (Salo et al., 2019). Due to the increased number of subscribers and almost a total of over 4B subscribers the channels provide a network to effectively reach large audience from different demographics, and geographic segments.
According to Hudson et al. (2018), Streaming sites such as Spotify, Boom play and Apple Music are also critical for reaching large audience with the new and existing contents. Most musicians are creating profiles in these streamlining platforms and relying on them as revenue generating tools to avoid overreliance on old school channels and services. The final platform to attract the audience is shows and music tours. This involves selling tickets for concerts and performing in different places to attract audience. The shows and tours heavily rely on social media marketing to drive ticket sales and attendance (Hudson et al., 2018). Concerts still remain a popular platform to reach audience however in the future, its impacts may decline greatly.
Can American Music continue to compete on the World market?
For generations, the American music dominated the global music industry with top American musicians being the most recognized musicians. Today, this is rapidly changing as countries are currently witnessing the rising of younger icons making it to the global levels. The American music dominated the industry for so long due to the technological revolutions especially in the American industry that enabled the musicians enjoy greater marketing and global content viewership. As this technology is rapidly growing, American music faces stiff competition from music from different countries with no advanced technology. According to Reesman (2019), the rise of music streaming, global television channels and sites such as YouTube enables other musicians gain audience globally hence increasing their global audience.
The American music also faces stiff competition as more count.
The music industry in Britain has seen significant changes over the past two decades. Recording artists now rely primarily on live performances and merchandise for income rather than recorded music sales. Record companies have introduced "360 deals" where they take a percentage of artists' revenues from all sources in order to benefit from their entire income stream. While digital singles sales are rising, digital and physical album sales continue to decline in the UK due to high levels of illegal downloading. More than three-quarters of downloaded music in Britain is obtained illegally, costing the music industry over £1 billion since 2007.
This document provides an analysis of the modern music industry and streaming services. It examines competitors like Spotify, Apple Music, and Tidal. The target audience is identified as males and females aged 16-34. The marketing strategy proposes launching a new music streaming service called "Chorus" that offers both digital streaming and physical vinyl purchases with in-store pickup. Key tactics include social media campaigns, TV advertisements, celebrity endorsement from Ed Sheeran, and streaming live music gigs.
Digitalization has completely changed how music is composed, transmitted, preserved, heard, and performed. The overwhelming majority of music today is digital music since they exist in electronic form. Digital music along with other digital content is the driver for the global technology markets. As technology advances, so do the means for marketing and promoting of anything and everything. The music industry is no exception. It is now apparent that the digital production, distribution, and consumption of music is inevitable. However, while the digital music market is booming, it has been observed that there is no sustainable future for the music artists or for technology companies. The pressure consumers have placed on the music industry is enormous. This paper provides an introduction on digital music. Matthew N. O. Sadiku | Uwakwe C. Chukwu | Abayomi Ajayi-Majebi | Sarhan M. Musa "Essentials of Digital Music" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-6 | Issue-6 , October 2022, URL: https://www.ijtsrd.com/papers/ijtsrd51906.pdf Paper URL: https://www.ijtsrd.com/computer-science/other/51906/essentials-of-digital-music/matthew-n-o-sadiku
DMN is a nonprofit organization based in Dallas, Texas that was formed in 2020 to support local musicians during the pandemic. DMN produces live stream concerts and films that are distributed on social media and streaming platforms, helping over 400 musicians expand their audiences and careers. DMN also offers services like recording, promotion, and networking opportunities. They are seeking a grant to fund new programs including a podcast featuring local artists. Metrics show their social media reaches over 1 million viewers annually, and some artists have gained success through opportunities with major labels, festivals, and shows.
Sony husic Entertainment and theEvolution of the Music Indu.docxwhitneyleman54422
Sony h/usic Entertainment and the
Evolution of the Music Industry
A. J. Strickland
The Ilniversitg of Alabama
Andrew Pharaoh
2015 Undergraduate,
The Universitg of Alabama
d d A t such a pivotal time for music, it's more
ffi imRortant than ever to develop a fertile,d \ creative environment that generates the
highest quality of artists and music, while seeking to
fully exploit the many opportunities that new digital
services and products provide in reaching audiences
around the world."r
The remarks of Sony Music Entertainment CEO
Doug Morris in 2011 illustrated an accurate under-
standing of the environment of music sales. Morris,
a globally influential executive and music innovator,
agreed to join Sony Music Entertainment as chief
executive officer effective July 1, 201l. In a time of
great change in the music marketplace, it was abso-
lutely necessary that Sony take active steps to remain
competitive. Morris took the job graciously, but he
placed himself into a business whose margins were
becoming thinner and thinner. With a declining
industry that had been made less lucrative by the
wide availability of substitutes, Morris was forced to
develop a strategy to contend with industry change
and unfavorable competitive forces in 2014.
F"$$ST#ffiV #ffi S#NY f'1U$$*
ffiNTKreT&!Iq P--$ffiNY
American Record Company, the company that would
laterbecome Sony Music Entertainment, was founded
in 1929 and then acquired by Columbia Broadcasting
Company in 1938. In March 1968, Sony, at that rime
Seth Kennedg
2014 Llndergraduate,
The Universitg of Alabama
a Japanese company, began a joint venture with the
American company CBS to form CBS/Sony Records
Inc. In September 1976, Sony introduced the optical
digital audio disc, now known as the compact disc
(CD). In 1983, CBS Inc., as an American company,
allowed introduction of the CD to American markets.
In January 1988, CBS Records Inc. was absorbed,
and in January 1991, the new company was renamed
Sony Music Entertainment Inc.
In August 2004, Sony BMG Music Entertain-
ment was established as a new joint venture with Ber-
telsmann AG. Later, in August 2008, Sony acquired
BMG's 50 percent stake in Sony Music Entertain-
ment and began operation once again as Sony Music
Entertainment, a wholly owned subsidiary of Sony
Corporation. In July 2012, Sony/AIV Music Publish-
ing, a joint venture between Sony and the Michael
Jackson Family Trust, along with a consortium of
other investment firms, bought the publishing arm of
the EMI Group, which solidified Sony's position as
the world's largest music publisher.
#VffiRV!HW ffiT THffi ML,}$$T
il N,EM M$TruV
Before the 1900s, music and entertainment media had
a strong emphasis on performance. If theater, magic,
or music was wanted in a certain venue, individuals
Copyright O 2014 by A. J. Strickland. All rights reserved.
who could perform the arl personally were found and
paid to do so. At the beginning of the 20th century,
music began to become ownership-driven. .
Transparency and equitable remuneration for rights holders in the digital mus...Dianne Bonney
The document discusses several issues facing the music industry as music consumption shifts from ownership to access through streaming services. It notes that streaming now represents 19% of global recorded music revenue but per-stream royalties are low compared to downloads or physical sales. The industry lacks transparency around licensing and royalty payments, with an estimated 20-50% of royalties not reaching rights holders. Recommendations include a standardized royalty reporting format, global rights database, and measures to address the value gap between ad-supported and paid streaming services.
The music industry is currently healthy due to the ease of accessing music, however some areas are doing better than others which threatens the industry overall. The three major music companies control a large portion of the market. While digital music revenues grew 6% in 2010 and the digital market increased over 1000% from 2004-2010, illegal downloading decreased revenues by 31%. The biggest threats to the industry are increasing access to illegal music online and advances in technology that allow free access to music.
Music Publishing Industry
Analysis and Report
Economic Indicators
Overview
The American music industry is undoubtedly at the heart of contemporary American culture as a whole. The United Sates is the world’s largest recorded music market by sales, followed by Japan, the UK, and Germany (Hoover’s). As with most entertainment industries, the music industry has continued to evolve with acknowledging and making use of technological advancements to increase overall profits, widen the scope of listeners around the world, and further enlarge the music industry’s market share amongst other sectors in the entertainment world, such as television, film, and radio.
Although there are many individuals and organizations that operate within the music industry, this report will focus on the Music Publishing industry as it is in the midst of an important transition. The decrease of physical album sales in the past five years has forced publishers to look for new revenue sources and “to become less dependent on traditional licensing platforms” (IBISWorld US). To meet the changing needs of the consumer, music publishers are constantly establishing licensing agreements with new revenue streams like mobile outlets, digital streaming services and wireless music subscription services, like Spotify. Adapting to these new models has helped to alleviate the losses caused by the decrease in consumer spending and unimpressive album sales during the recession. However, the lack of consumer demand for albums along with the declining physical album sales has not been forgotten, as its effects are still present throughout the industry.
Table 1
The Music Publishing Industry at a Glance
While the industry has been experiencing more positive trends over the past five years, the negative factors listed above have certainly outweighed the more positive developments, resulting in an estimated average annual revenue decline of 3.2% in the five years leading up to 2014, totaling $3.9 billion.
As industry operators continue to adapt to the changing media landscape and leverage online platforms, IBISWorld expects revenue for the Music Publishing industry to grow 0.9% in 2014, which could mark the beginning of a more positive trend within the music industry.
Digital platforms have undoubtedly created new revenue streams; however, the future performance of the industry relies on the ability to overcome certain obstacles, including the fact that, today, selling a song has become more challenging with the widespread availability of online music. IBISWorld also points out that the internet has become a practical way for an artist to manage, distribute, and promote his or her own songs and albums, which has ultimately decreased the need for a publisher.
Even with some of these challenges, it is expected that the industry will grow in the coming years. “In the five years to 2019, revenue is projected to grow at an annualized rate of 0.8% to $4.0 billion” (IBISWorld.
The IFPI Global Music Report tells a positive story of music being enjoyed by more people in more ways than ever before. At the heart of this story are incredible artists, supported by the investment and innovation from record companies and other
partners that is helping them to share their music with
the world.
A2 media ms4 music industry and globalisationaealey
Globalization has increased interconnectivity through greater trade and cultural exchange. This has impacted the music industry by allowing producers to reach global audiences through converged media technologies. While this gives producers more power and audiences access to diverse content, it also enables cultural imperialism as Western/American values are disproportionately spread. The digital revolution accelerated globalization by making music files portable across many devices and services. Major record labels now have international offices, helping artists globally but homogenizing cultures.
Bonnaroo is an annual music festival held in Manchester, Tennessee that has experienced both growth and decline over its 15 year history. While social media and new technologies like RFID wristbands have helped the festival gather data on attendees, the landscape has become oversaturated with mainstream festivals offering similar lineups. Bonnaroo's original fan base of jam band fans has criticized the festival for "selling out," though the sense of community remains. To thrive long term, the analysis concludes Bonnaroo needs to refocus on its jam band roots to reconnect with loyal, hardcore festival fans while maintaining its sustainable practices and partnerships.
Uni Assessment 3 Short Essay MDA10006 Innovation Cultures, Perspectives on Sc...Sarah Tump Writer
The document discusses the history and evolution of media from radio to the internet. It traces the development of radio in the late 19th century for military communication and its growth into public broadcasting in the 1920s. The emergence of television in the late 1920s and its alteration to include reality shows by the 1970s is also examined. Finally, the essay covers the creation of the internet by Tim Berners-Lee in 1983 and how it allowed for participatory culture and personalized experiences by connecting all media. However, it warns that current media and algorithms may limit perspectives and distract from self-development.
A Market Analysis Report for Atlantic RecordsNeyaLashae1
This analysis report for Atlantic Records was completed in February of 2022. The analysis was compiled through the use of initial company research, SWOT and STEEPLE analysis, and other external sources.
The document discusses how technological advances over the past 12 years have transformed the music industry. The digitization of music has changed how music is produced, distributed, promoted and consumed, opening new opportunities for musicians but also disrupting the traditional business model of major record labels. While some see chaos, many new artists see more opportunities to get their music heard than ever before due to increased connectivity and access provided by the Internet.
The document discusses how the music industry produces and distributes media products and has been significantly impacted by technological changes. It describes how music downloading, both legal and illegal, has replaced physical purchases and hurt music shops. While major labels mass produce unoriginal music, independent labels work closely with artists but have less financial resources. Technological advances both help unknown artists gain exposure but also threaten the decline of physical media and disenfranchise those who don't adopt new technologies. The music industry must adapt to these changes while preserving traditional aspects.
Speak to the idea of feminism from your perspective and.docxstirlingvwriters
The document asks students to discuss their perspectives on feminism by answering several questions: 1) What they were taught about feminism by family/culture, 2) If they identify as a feminist and how that label may change based on audience, 3) The most important issue regarding feminism/gender equality today, 4) Whether the quote about privilege and equality resonates regarding gender, and 5) What they wish another gender understood about their experiences. Students are asked to write a minimum 270-word initial post responding to the questions.
Demand/Supply Integration (DSI) aims to align demand signals with supply planning to achieve an ideal state where inventory levels and production schedules match customer demand. However, issues like data or system silos between functions can prevent the ideal DSI state. Warehouses and distribution centers create value in the supply chain by storing inventory in strategic locations to efficiently meet customer demand and support supply chain operations.
Thinking about password identify two that you believe are.docxstirlingvwriters
Brute force and dictionary attacks are two of the most dangerous password attacks. Brute force attacks can reveal passwords by trying all possible combinations, while dictionary attacks use common words and personal information to crack passwords. Organizations can implement strong password policies, multi-factor authentication, and monitoring for brute force attempts to better protect against these attacks.
The student will demonstrate and articulate proficiency in.docxstirlingvwriters
The student will demonstrate their clinical reasoning and prioritizing skills by reviewing a client case study, gathering evaluation and test results, and using this data to develop both long term and short term goals for the client's plan of care. To complete this assignment, the student will be provided a case study involving various impairments and dysfunctions and will analyze the evaluation to determine and write appropriate long and short term goals.
The American Music Industry5 The Am.docxlillie234567
The American Music Industry 5
The American Music Industry
Jose Andres Bermudez Martinez
Dr. Katie L. Males
Southern States University
MUS305
12/01/2022
Platforms to reach different Audience
The music industry is heavily reliant on large audiences to make more profits and boost product recognition. Today, different musicians struggle with how to make their music popular and how to reach large audience. However, there are a few strategies already working for different musicians that could be replicated by others. One of the popular strategies currently utilized by all musicians to reach audience is streamlining channels and services (Salo et al., 2019). YouTube is currently the leading site for music streaming due to the its global customer base. It has over 3B active subscribers making it an ideal channel to reach large audience. Secondly social media channels such as Tik Tok, Facebook, Instagram, Twitter and Snapchat are currently being used as marketing tools to refer the audience to streaming suites such as YouTube and Spotify (Salo et al., 2019). Due to the increased number of subscribers and almost a total of over 4B subscribers the channels provide a network to effectively reach large audience from different demographics, and geographic segments.
According to Hudson et al. (2018), Streaming sites such as Spotify, Boom play and Apple Music are also critical for reaching large audience with the new and existing contents. Most musicians are creating profiles in these streamlining platforms and relying on them as revenue generating tools to avoid overreliance on old school channels and services. The final platform to attract the audience is shows and music tours. This involves selling tickets for concerts and performing in different places to attract audience. The shows and tours heavily rely on social media marketing to drive ticket sales and attendance (Hudson et al., 2018). Concerts still remain a popular platform to reach audience however in the future, its impacts may decline greatly.
Can American Music continue to compete on the World market?
For generations, the American music dominated the global music industry with top American musicians being the most recognized musicians. Today, this is rapidly changing as countries are currently witnessing the rising of younger icons making it to the global levels. The American music dominated the industry for so long due to the technological revolutions especially in the American industry that enabled the musicians enjoy greater marketing and global content viewership. As this technology is rapidly growing, American music faces stiff competition from music from different countries with no advanced technology. According to Reesman (2019), the rise of music streaming, global television channels and sites such as YouTube enables other musicians gain audience globally hence increasing their global audience.
The American music also faces stiff competition as more count.
The music industry in Britain has seen significant changes over the past two decades. Recording artists now rely primarily on live performances and merchandise for income rather than recorded music sales. Record companies have introduced "360 deals" where they take a percentage of artists' revenues from all sources in order to benefit from their entire income stream. While digital singles sales are rising, digital and physical album sales continue to decline in the UK due to high levels of illegal downloading. More than three-quarters of downloaded music in Britain is obtained illegally, costing the music industry over £1 billion since 2007.
This document provides an analysis of the modern music industry and streaming services. It examines competitors like Spotify, Apple Music, and Tidal. The target audience is identified as males and females aged 16-34. The marketing strategy proposes launching a new music streaming service called "Chorus" that offers both digital streaming and physical vinyl purchases with in-store pickup. Key tactics include social media campaigns, TV advertisements, celebrity endorsement from Ed Sheeran, and streaming live music gigs.
Digitalization has completely changed how music is composed, transmitted, preserved, heard, and performed. The overwhelming majority of music today is digital music since they exist in electronic form. Digital music along with other digital content is the driver for the global technology markets. As technology advances, so do the means for marketing and promoting of anything and everything. The music industry is no exception. It is now apparent that the digital production, distribution, and consumption of music is inevitable. However, while the digital music market is booming, it has been observed that there is no sustainable future for the music artists or for technology companies. The pressure consumers have placed on the music industry is enormous. This paper provides an introduction on digital music. Matthew N. O. Sadiku | Uwakwe C. Chukwu | Abayomi Ajayi-Majebi | Sarhan M. Musa "Essentials of Digital Music" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-6 | Issue-6 , October 2022, URL: https://www.ijtsrd.com/papers/ijtsrd51906.pdf Paper URL: https://www.ijtsrd.com/computer-science/other/51906/essentials-of-digital-music/matthew-n-o-sadiku
DMN is a nonprofit organization based in Dallas, Texas that was formed in 2020 to support local musicians during the pandemic. DMN produces live stream concerts and films that are distributed on social media and streaming platforms, helping over 400 musicians expand their audiences and careers. DMN also offers services like recording, promotion, and networking opportunities. They are seeking a grant to fund new programs including a podcast featuring local artists. Metrics show their social media reaches over 1 million viewers annually, and some artists have gained success through opportunities with major labels, festivals, and shows.
Sony husic Entertainment and theEvolution of the Music Indu.docxwhitneyleman54422
Sony h/usic Entertainment and the
Evolution of the Music Industry
A. J. Strickland
The Ilniversitg of Alabama
Andrew Pharaoh
2015 Undergraduate,
The Universitg of Alabama
d d A t such a pivotal time for music, it's more
ffi imRortant than ever to develop a fertile,d \ creative environment that generates the
highest quality of artists and music, while seeking to
fully exploit the many opportunities that new digital
services and products provide in reaching audiences
around the world."r
The remarks of Sony Music Entertainment CEO
Doug Morris in 2011 illustrated an accurate under-
standing of the environment of music sales. Morris,
a globally influential executive and music innovator,
agreed to join Sony Music Entertainment as chief
executive officer effective July 1, 201l. In a time of
great change in the music marketplace, it was abso-
lutely necessary that Sony take active steps to remain
competitive. Morris took the job graciously, but he
placed himself into a business whose margins were
becoming thinner and thinner. With a declining
industry that had been made less lucrative by the
wide availability of substitutes, Morris was forced to
develop a strategy to contend with industry change
and unfavorable competitive forces in 2014.
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American Record Company, the company that would
laterbecome Sony Music Entertainment, was founded
in 1929 and then acquired by Columbia Broadcasting
Company in 1938. In March 1968, Sony, at that rime
Seth Kennedg
2014 Llndergraduate,
The Universitg of Alabama
a Japanese company, began a joint venture with the
American company CBS to form CBS/Sony Records
Inc. In September 1976, Sony introduced the optical
digital audio disc, now known as the compact disc
(CD). In 1983, CBS Inc., as an American company,
allowed introduction of the CD to American markets.
In January 1988, CBS Records Inc. was absorbed,
and in January 1991, the new company was renamed
Sony Music Entertainment Inc.
In August 2004, Sony BMG Music Entertain-
ment was established as a new joint venture with Ber-
telsmann AG. Later, in August 2008, Sony acquired
BMG's 50 percent stake in Sony Music Entertain-
ment and began operation once again as Sony Music
Entertainment, a wholly owned subsidiary of Sony
Corporation. In July 2012, Sony/AIV Music Publish-
ing, a joint venture between Sony and the Michael
Jackson Family Trust, along with a consortium of
other investment firms, bought the publishing arm of
the EMI Group, which solidified Sony's position as
the world's largest music publisher.
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Before the 1900s, music and entertainment media had
a strong emphasis on performance. If theater, magic,
or music was wanted in a certain venue, individuals
Copyright O 2014 by A. J. Strickland. All rights reserved.
who could perform the arl personally were found and
paid to do so. At the beginning of the 20th century,
music began to become ownership-driven. .
Transparency and equitable remuneration for rights holders in the digital mus...Dianne Bonney
The document discusses several issues facing the music industry as music consumption shifts from ownership to access through streaming services. It notes that streaming now represents 19% of global recorded music revenue but per-stream royalties are low compared to downloads or physical sales. The industry lacks transparency around licensing and royalty payments, with an estimated 20-50% of royalties not reaching rights holders. Recommendations include a standardized royalty reporting format, global rights database, and measures to address the value gap between ad-supported and paid streaming services.
The music industry is currently healthy due to the ease of accessing music, however some areas are doing better than others which threatens the industry overall. The three major music companies control a large portion of the market. While digital music revenues grew 6% in 2010 and the digital market increased over 1000% from 2004-2010, illegal downloading decreased revenues by 31%. The biggest threats to the industry are increasing access to illegal music online and advances in technology that allow free access to music.
Music Publishing Industry
Analysis and Report
Economic Indicators
Overview
The American music industry is undoubtedly at the heart of contemporary American culture as a whole. The United Sates is the world’s largest recorded music market by sales, followed by Japan, the UK, and Germany (Hoover’s). As with most entertainment industries, the music industry has continued to evolve with acknowledging and making use of technological advancements to increase overall profits, widen the scope of listeners around the world, and further enlarge the music industry’s market share amongst other sectors in the entertainment world, such as television, film, and radio.
Although there are many individuals and organizations that operate within the music industry, this report will focus on the Music Publishing industry as it is in the midst of an important transition. The decrease of physical album sales in the past five years has forced publishers to look for new revenue sources and “to become less dependent on traditional licensing platforms” (IBISWorld US). To meet the changing needs of the consumer, music publishers are constantly establishing licensing agreements with new revenue streams like mobile outlets, digital streaming services and wireless music subscription services, like Spotify. Adapting to these new models has helped to alleviate the losses caused by the decrease in consumer spending and unimpressive album sales during the recession. However, the lack of consumer demand for albums along with the declining physical album sales has not been forgotten, as its effects are still present throughout the industry.
Table 1
The Music Publishing Industry at a Glance
While the industry has been experiencing more positive trends over the past five years, the negative factors listed above have certainly outweighed the more positive developments, resulting in an estimated average annual revenue decline of 3.2% in the five years leading up to 2014, totaling $3.9 billion.
As industry operators continue to adapt to the changing media landscape and leverage online platforms, IBISWorld expects revenue for the Music Publishing industry to grow 0.9% in 2014, which could mark the beginning of a more positive trend within the music industry.
Digital platforms have undoubtedly created new revenue streams; however, the future performance of the industry relies on the ability to overcome certain obstacles, including the fact that, today, selling a song has become more challenging with the widespread availability of online music. IBISWorld also points out that the internet has become a practical way for an artist to manage, distribute, and promote his or her own songs and albums, which has ultimately decreased the need for a publisher.
Even with some of these challenges, it is expected that the industry will grow in the coming years. “In the five years to 2019, revenue is projected to grow at an annualized rate of 0.8% to $4.0 billion” (IBISWorld.
The IFPI Global Music Report tells a positive story of music being enjoyed by more people in more ways than ever before. At the heart of this story are incredible artists, supported by the investment and innovation from record companies and other
partners that is helping them to share their music with
the world.
A2 media ms4 music industry and globalisationaealey
Globalization has increased interconnectivity through greater trade and cultural exchange. This has impacted the music industry by allowing producers to reach global audiences through converged media technologies. While this gives producers more power and audiences access to diverse content, it also enables cultural imperialism as Western/American values are disproportionately spread. The digital revolution accelerated globalization by making music files portable across many devices and services. Major record labels now have international offices, helping artists globally but homogenizing cultures.
Bonnaroo is an annual music festival held in Manchester, Tennessee that has experienced both growth and decline over its 15 year history. While social media and new technologies like RFID wristbands have helped the festival gather data on attendees, the landscape has become oversaturated with mainstream festivals offering similar lineups. Bonnaroo's original fan base of jam band fans has criticized the festival for "selling out," though the sense of community remains. To thrive long term, the analysis concludes Bonnaroo needs to refocus on its jam band roots to reconnect with loyal, hardcore festival fans while maintaining its sustainable practices and partnerships.
Uni Assessment 3 Short Essay MDA10006 Innovation Cultures, Perspectives on Sc...Sarah Tump Writer
The document discusses the history and evolution of media from radio to the internet. It traces the development of radio in the late 19th century for military communication and its growth into public broadcasting in the 1920s. The emergence of television in the late 1920s and its alteration to include reality shows by the 1970s is also examined. Finally, the essay covers the creation of the internet by Tim Berners-Lee in 1983 and how it allowed for participatory culture and personalized experiences by connecting all media. However, it warns that current media and algorithms may limit perspectives and distract from self-development.
A Market Analysis Report for Atlantic RecordsNeyaLashae1
This analysis report for Atlantic Records was completed in February of 2022. The analysis was compiled through the use of initial company research, SWOT and STEEPLE analysis, and other external sources.
The document discusses how technological advances over the past 12 years have transformed the music industry. The digitization of music has changed how music is produced, distributed, promoted and consumed, opening new opportunities for musicians but also disrupting the traditional business model of major record labels. While some see chaos, many new artists see more opportunities to get their music heard than ever before due to increased connectivity and access provided by the Internet.
The document discusses how the music industry produces and distributes media products and has been significantly impacted by technological changes. It describes how music downloading, both legal and illegal, has replaced physical purchases and hurt music shops. While major labels mass produce unoriginal music, independent labels work closely with artists but have less financial resources. Technological advances both help unknown artists gain exposure but also threaten the decline of physical media and disenfranchise those who don't adopt new technologies. The music industry must adapt to these changes while preserving traditional aspects.
Speak to the idea of feminism from your perspective and.docxstirlingvwriters
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1) Name 5 intrusion detection system alternatives to Snort.
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This slide is special for master students (MIBS & MIFB) in UUM. Also useful for readers who are interested in the topic of contemporary Islamic banking.
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This presentation includes basic of PCOS their pathology and treatment and also Ayurveda correlation of PCOS and Ayurvedic line of treatment mentioned in classics.
1. MUS3016 Music And Wellbeing
Answer
Covid Impact On The Music Industry
Introduction
The music industry is a compelling, ever-changing industry with a rich history. This position
paper will explore the effective funding and support for the music industry as a sector in
response to the effects of Covid-19. The music industry has been around for hundreds of
years (Allinson, 2022). The industry has evolved from small recording studios to a major
global player in recent decades (Allinson, 2022). The way in which music is created as well
as distributed has seen some dramatic variations. The global consumption of music and the
globalization of the diverse types of music has been further boosted due to the rise of
internet in the late 1990s (Wikström 2020). This has further set up a butterfly effect that
affects artists and musicians inadvertently on how they are paid or compensated (Daniel
2019). Earlier record labels were predominantly relied upon by the music industry and the
music preferences of the population were mostly influenced by the music that was being
circulated through the records at that time (Wikström 2020). However, the early 2000s saw
a boost in the power dynamics of the music industry and mobile phones came up to be quite
popular. This resulted in the rise of music streaming which increased the supply pool and
gave power to the fans and listeners to judge what they liked or disliked, as opposed to
record labels which dominated the market and limited choices (Wikström 2020). The
evolution of the music industry did not stop there as the entry of social media has been
considered to be revolutionary for the music promotion sector as well (Iatropoulou 2021).
Thus, more features were included in order to keep the audiences and listeners
entertained. The industry is now increasingly vulnerable to advances in new technologies
and changing consumer preferences (Allinson, 2022). To grow and compete effectively, the
industry must continue to develop and refine new processes. This position paper will look
at the effects Covid-19 has had on musicians by focusing on streaming, sales, and
advertising. The paper will also illustrate on the streaming sector within the broader music
industry. It also addresses the long-term private-public supporting mechanisms questioning
what can be the gains from the long-term.
Discussion
2. Culture & creativity are important in their own right because they offer opportunities to do
things differently and bring something fresh to society (Khlystova, Kalyuzhnova, and
Belitski 2022). They also spur innovation and provide more opportunities across the
economy. Every culture is different and their behavior and mode of listening to music are
also different. This means that music is treated differently in different cultures. This
includes helping to create and diversify jobs that involve music, increasing economic
efficiency, powering entrepreneurship in music industries, and benefiting society in
numerous ways (Tulalian 2021). Music is a powerful force in one’s culture and it has been
around for centuries. It inspires creativity, helps to make tough decisions, and it even
motivates to complete tasks. Music can be used as a tool for learning as well as for healing
(Parc and Kim 2020). With the emergence of mobile phones and streaming music has
become more easily accessible for everyone who wants to listen but were unable to
purchase records due to its high prices (Seetharaman 2020). As this paper mainly focuses
on the streaming sector within the broader music industry it is necessary to highlight its
significance by illustrating its contents and what comprises the sector. This segment will
also state the funding elements of this sector. The streaming sector consists of music
streaming services or platforms that enable their users to access and listen to podcasts, and
music, and also watch music videos (Parc and Kim 2020). The features that are used by
these services and platforms include automatic personalization of playlists, song
recommendations based on choices, and connectivity over browsers and applications that is
purely hassle-free. As of 2021, the global market size of music streaming was valued at US
$29.45 billion and it is also expected to grow at a fast rate (Jeannotte 2021). This market
expansion is due to the increased usage of smartphones and devices as well as the
penetration of digital and music streaming platforms. The Covid-19 pandemic only sealed
the destiny of streaming platforms as it saw a huge boost (Sim et al. 2022). The highest
average times for streaming are led by the Gen Z but almost 68% of the adult population is
also into music streaming services (Sim et al. 2022). The majority of the streaming services
use advertising or paid subscriptions to generate revenue and fund the platforms. A well-
known example of this is Spotify which is considered to be the global leader in music
streaming (Taylor, Raine and Hamilton 2021).
The music industry in the UK before the covid-19 pandemic was thriving and healthy. There
were many artists, both famous and unknown, who thrived in this environment. It was a
diverse, profitable market with a wide range of artists and genres. The industry was at its
peak when covid-19 hit in 2019 (Hall, 2020). Because of its spreading nature, covid-19
affected many of the most successful artists, either economically which is the majority of the
case, or terminally, leaving a gaping hole in the industry (Taylor, Raine, and Hamilton 2021).
The music industry then became affected by the pandemic and the world's culture changed
drastically. This change was reflected in music as well. All the major pre-existing sectors
within the music industry like the music licensing sector, recorded music sector, and live
music (mostly) have suffered Covid-19 implications (Seetharaman 2020). This also
simultaneously boosted the digital music industry. However, the effects of the pandemic on
the digital music streaming platforms have been regarded as positive as the period
3. witnessed a boost in usage of streaming applications and visitations by audiences (Davies
2021). Boosts in sale means they were able to gather more funds than anticipated.
The covid-19 pandemic has had a significant impact on the music industry in the UK. There
is also a lack of support for new musicians as venues and bands are struggling to find
work, although recently, the situation has become much better (Hall, 2020). A typical
symptom of the pandemic is a sudden and dramatic loss in ticket sales for concerts,
particularly for bands that have been successful for many years. The lack of audience has
led to a decrease in revenue and an increase and some financial losses (Mastnak 2020).
This can be detrimental to artists who are trying to cultivate new audiences while they are
struggling with the loss of their old genre of music. The Covid-19 pandemic has had a huge
impact on the music industry in the UK. The pandemic caused large numbers of deaths and
a lot of people are still unable to work due to the virus (Spiro et. al., 2021). This has led to a
decrease in live performances and gigs, which is damaging because these events are an
important source of money for musicians. The market demand for music (concerts, CDs)
has decreased due to the effect of the virus. The income and demand of the music industry
have decreased, which has affected all musicians in one way or another. This decreases all
musicians’ income, which has affected all musicians.
The cultural and creative sectors (CCS) have been a major driver of the ability to understand
history and culture, create new ideas, and innovate. The CCS is also the largest employer in
the UK, with 5.4 million jobs, and without them, one would be missing out on some of the
most talented minds (Taylor, Raine, and Hamilton 2020). The CCS sectors, for instance,
performing arts, cinema, museums, festivals, live music, and many more have suffered the
most due to the pandemic which has made social distancing the norm. There was a sudden
drop in the level of the income earned by these industries and as a result, there was
financial instability which again resulted in the wage earnings of the workers to reduce
further (Spiro et. al., 2021). As far as the CCS sectors are considered from an online
perspective, those sectors viewed an upsurge of demand thereby leading to an increase in
the rate of profit margin. This happened because, during the lockdown, people were unable
to move outside their homes and viewed the cultural shows through online streaming.
Globally, the music industry is divided into three parts, namely – live music, which
predominantly is obtained from the selling of tickets to shows where live performances
were carried on, and recorded music, where the revenue generated comes from streaming,
physical sales, digital downloads, and synchronization revenues such as licensing of music
for games, advertising, TV, and movies, and lastly, the publishing (Wikström 2020). All these
divisions of the music industry generate global revenue of $50 billion (Prey, Esteve Del Valle
and Zwerwer 2022). The following diagram is depicted where the global music industry
revenue for the years 2014-2023 is shown in billion dollars.
Source: (Brambilla Hall, 2020).
4. Effect Of The Covid-19 Pandemic On The Music Industry
While the overall effects of the pandemic on the global music industry may seem bad but a
huge advantage or positive side is the growth of the digital music streaming platforms and
services such as Spotify, Apple music, and so on (Taylor, Raine and Hamilton 2021). The
demand for such services and platforms has become global and also sets the future of the
music streaming sector. As more individuals had to sit home and wait out the pandemic,
they shifted to digital and internet related services which were easily accessible as well as
easy to use (Sim et al. 2022). The greater number of users and high demand resulted in
more advertisements and paid subscriptions as the free trial period are limited (Simon, J.P.,
2019). More advertisements of other brands and companies make sure that those brands
reach the population and simultaneously the platforms are able to make money. Thus,
Covid-19 has increased the funding and financial support for the music streaming sector
(Tulalian 2021). However, the covid-19 effects on the rest of the music industry are quite
bad considering the damages and downfalls.
1. Sales And Streaming
In 2020, it was reported that the physical sales component, or the supply of the final
product of music like CDs to the consumers of the music industry has reduced by one-third
of the total music revenue due to the upsurge of the covid-19 pandemic (Hall 2020). It has
been observed that after the onset of the pandemic, the way of listening to music has
changed in many areas. For instance, in China, Tencent Music Entertainment (TME)
announced that the behavior pattern of the listeners had entirely changed during the
lockdown (Hall 2020). The change of the consumers was inclined toward the usage of home
applications like TV and smart devices. According to the Group Vice President of the TME
Content Corporation Department, Tsai Chun Pan, the social entertainment services were
indeed impacted largely due to the pandemic, although the first quarter of 2020 did witness
a moderate recovery in the revenue of the music industry by 70% year-over-year (Sim et.
al., 2022). The users who paid online to listen to music reached a peak of 42.7 million which
was approximately a 50.4% increase year-over-year (Sim et. al., 2022). This shows that
although physical was down, the online streaming of music had remained an important part
of the human lives and continued to touch their hearts just like the physical concerts did.
A popular music app, Spotify, which now had much more subscribers than before, had also
witnessed a change in the routine of daily consumers for the taste of relaxing genres (Yeung
2020). There was concern about the amount of music that was consumed, however, the data
shows that initially, there was indeed a fall in the streaming of 7-9%, this reduction was
recovered at a later stage (Sim et. al., 2020). Along with this, the demand for music videos
has also increased due to the change in behaviors of the consumers during the pandemic
where the focus has shifted to more newsfeed media like the TV and the listening to music
during gym hours has also shifted due to the closure of the gyms (Galea, Merchant and Lurie
2020).
5. 2. Advertising Spend
Globally, the amount that is spent on advertising for the music industry has also reduced to
a large extent. During the first quarter of 2020, it was observed from a survey that was
conducted by the Interactive Advertising Bureau, 2022, that advertising was paused by a
quarter of the buyers and brands of music media. It was also calculated that a further 46%
had lessened their amount of spending (Wikström 2020). The digital ad spending had also
lessened by one-third amount and this would affect the music channels which support the
ads. As a result, the revenue generated by the entire music industry and the individual
income of the music artists will also be affected. Spotify said that its quarterly ad targets
were missed because of a change to the timeline when companies are spending.
3. Distribution
When it comes to the topic of distribution, it is observed that many music artists are
postponing their releases of music to the latter half of the year because they are unable to
utilize the tours to popularize or advertise their new albums. Many new concerts and live
shows have been canceled due to the prevalence of the covid-19 pandemic leading to zero
revenue generation for live concerts (Yeung, 2020). Since the music industry is divided into
three halves, one part (live music) of the industry earns zero revenue, then automatically,
the revenue of the entire industry is cut into one-third. If the ticket and merchandise sales
are kept aside, if there is a complete shutdown for 6 months, then there will be a monetary
loss of $10 billion in sponsorships (Yeung, 2020). Moreover, the post-pandemic change in
the future is uncertain. Building back the customer base will be a real challenge. According
to a recent survey (Hall, 2020), it was concluded that, if there is no proven vaccine then less
than half of the US customers are planning to go to concerts, movies, amusement parks, and
live shows. The music artists and the bands will be affected by this to a large extent since
most of them are earning 75% of their total income from live shows (Hennessy et. al.,
2021). According to the empirical data, it was observed that the revenue that is generated
from conducting live shows is received by the top 1% of the performers (in 2019 it was
60% and in 1982 it was 26%) (Habe, Biasutti and Kajtna, 2021). There are several different
ways the industry is addressing to nullify the impacts of the covid-19 pandemic.
Private-Public Support Mechanisms
There have been several fundraising campaigns for the industry from around the world that
are made available to the common public and whose revenue has been largely affected by
the pandemic. These communities include donations and grants from the Universal Music
Group (UMG), Live Nation Entertainment along with other streaming giants, for instance,
Amazon Music, YouTube Music, Spotify, TIDAL, and much more (Deng, Lyu, and Xu 2021).
Tencent Music Entertainment is China's largest music platform has been joining efforts via
its parent company. There have been instances where a large number of providers have set
6. up mechanisms where the consumers can directly donate to the funds which they would
like to donate. There have been other instances that include hardship funding plans for cash
flow shortfalls stemming from disruptions in content production. Responses have been
generated from the public sector too. Globally, there have been instances where the
governments have responded by developing aid packages. These packages have been
developed especially for the industry and the workers who have been badly affected by the
catastrophe. This amount approximately added up to trillions of dollars. These
contributions have not only been specific to the music industry but the entire genre of art
and culture.
The Gains From Long-Term
There are major three record labels via which professional music artists usually release
their music or album. These three record labels are UMG, Sony Music, and Warner Music.
There are alternative options of publishing through an independent publisher too. This
model represents 97% of all recorded music by market share and may experience
fluctuations but disruption is unlikely (Tschmuck 2017). Moreover, the amalgamation and
role of composers, songwriters, and post-production engineers in the evolution of music are
anticipated to change, although the onset of the pandemic has normalized remote working.
The work is equally distributed as the streaming platforms are closely linked with the
artists and labels while the distribution of music will be dealt with by the event promoters
and the venue operators. The trends which generally underlie the music industry are
enhanced by the crisis. This enhancement depends upon the importance of streaming to the
music industry which has increased from 9% to 47% of the total revenues within just six
years as depicted in the diagram (Hall, 2020).
Source: (Brambilla Hall, 2020).
As mentioned earlier, the pandemic has changed the patterns of consumption along with
the spending patterns of the consumers. There have been instances where the consumers
have taken on an added subscription since they are sitting at home while there have been
cases where the customers have opted out of the subscription charges since they are
undergoing a financial crisis during the pandemic (Fink et. al., 2021). The services which
were pre-equipped with the dual business model had survived such a crisis and they
retained their customer relationship. It's important to maintain an adaptable monetization
strategy since that will open up new ventures for the music industry to work hand in hand
with other industries shortly. For instance, the amalgamation of songs, musical scores, and
compositions into gaming and TV. However, the revenue generation through this
synchronization process comprises only 2% of the total revenue generated through
recorded music (Fink et. al., 2021). In China, during the pandemic, the platforms which
streamed music had introduced a new way of generating revenue which accrued to the
tipping of the music artists.
7. The entire world is going digital. The music industry is no exception. Therefore, the
distribution of music will be shaped by third-party platforms like discovery and consumer
behavior. For example, during the covid-19 pandemic, a live rap concert was hosted by
Fortnite that allured over 30 million live viewers online and also promoted the music artists
in a brand new way (Sim et. al., 2022). This serves as a suggestion in itself that the music
industry is trying to implement this shortly without having to rely upon streaming and
physical performances. To reach out to music lovers, streaming is the best possible way but
it makes the consumers more reliant on third-party platforms. Usually, a portion of the
revenue generated from the streaming of the music videos is paid to the rights holders by
the platforms, for example, Spotify pays around 65%, and the more the number of streams,
the more is the compensation (Sim et. al., 2022). This has two direct implications for the
music industry. Firstly, it encourages the streaming services to move the flux of the
consumption drive toward the audio forms which are non-licensed. It has been observed
that this shift had already started way back in 2014. Music listening, in general, has
decreased by 5%, but there's been an increase in spoken words across all age groups (Sim
et. al., 2022). Secondly, it has been observed that during and after the pandemic, the newly
made songs have become shorter and snappier. This has been predominantly due to the
reason that the number of individual plays needs to be boosted. According to Tsai Chun Pan,
these short videos on music have become the new trend that is in vogue. These short videos
have been helpful for the artists to generate new opportunities as well as generate new
content promotion and also Distribution Channels For instance, TikTok has already evolved
the way their consumer’s stream music and is also developing new strategies for this
streaming and this is anticipated to contribute to these developing dynamics.
Position On The Industry And Sector
It is quite clear from above that the overall traditional music industry has suffered a lot just
like any other business industry due to the restrictions and other problems caused by the
Covid-19 pandemic (Sim et al. 2022). However, the introduction and rise of digital music
and streaming services and platforms have provided the industry with a clear way to move
forward. The future of the music industry has already been reserved for streaming and
digital services. The uncertainties and critical times like Covid-19 will no doubt be difficult
but only the tough and innovative will survive as rapid innovations are required for any
business or industry during such ambiguous times (Taylor, Raine and Hamilton 2021). The
service has also become more customer-centric than before which is why there will be both
challenges as well as lucrative opportunities (Taylor, Raine and Hamilton 2021). Some
observations and possible recommendations for faster growth of the music industry
specifically the digital or music streaming sector will include;
More personalizations: Incorporating various technology as well as automated processes
that can completely read and identify the listening habits of the users and tailors the music
recommendations accordingly so as to make it more attractive for them.
Live streaming: Through enhancing live streaming the communication and intimate
8. connection between the audiences and the artists can be restored like the earlier and
traditional times. This way will also enable the artists to perform their music more
authentically.
Original content: Streaming platforms need to invest in gathering original content. This is
further enhanced due to the streaming services of YouTube and Netflix.
Premium prices: The subscription rates of the streaming platforms will rise due to the
upsurge in demand as well as the higher demand made by music labels and artists.
Recommendations
Based on the research and analysis conducted, the following things can be done to enhance
the music industry and help musicians and artists address their individual issues of income
and recognition. The recommendations are as follows;
As streaming platforms and services are the new normal for the music industry, the sector
can introduce ways in which artists are able to introduce themselves and their works
through direct interaction with their audiences.
Individual channels for musicians so that they are able to better promote their artworks and
new albums directly to their fan following groups.
Artists can also be used to create social and current environmental awareness which can
help the music industry and individual sectors to contribute to corporate social
responsibility, to enhance the overall image and engagement of the industry, sectors, and
individual musicians.
Ways to enhance earnings for the musicians by allowing them to raise funds for their
channels and the excess amounts can be used for social welfare.
Enhance the social media presence of artists and musicians by linking the channel platforms
with their personal accounts.
Creating chances for musicians to enhance their social image and existence by speaking on
topics and issues that are taking place currently and enabling them to contribute in social
development so as to enhance the image of the entire music industry.
Conclusion
The music industry is changing, and not for the better. Streaming services such as Spotify
and Apple Music are becoming the new norm, which means less money for artists. The
decline in CD sales has also impacted the industry severely. Even worse, the internet has
made it easier than ever to illegally download music so there's no way to know how many
people are buying CDs. Spotify, a popular streaming service that pays royalties to artists, is
on the rise. There are a few different ways for the company to generate revenue: users pay
for the service and/or listen ad-free with advertisements or become premium members
who don't have to listen to ads. The simplest service to build with this type of revenue
model is a streaming radio station that's ad-free for members. With the rise of streaming
services like Spotify and Apple Music, the music industry is in a state of flux. That said, there
are many positives on the horizon for artists and labels alike. Streaming services have
created a new economic model that is as profitable for artists as it is for labels. With this
9. new model, artist royalties are now paid based on streams rather than album sales or
downloads. This new model has made streaming services the main source of artists' income
and the most valuable partner for labels. Still, some musicians have struggled to find
stability in this new digital world. For many musicians, a side hustle is an essential source of
income. Many millennials are trying to be their boss through these alternative sources of
income like freelance work. The music industry is changing and evolving rapidly. New
artists are emerging every year, and with the emergence of streaming services like Spotify
and Apple Music, it has become easier than ever for people to find new artists to listen to.
Technology has also made it easier for some musicians to release their music
independently, giving them more control over the content they create and how they want it
heard. The music industry is changing after the pandemic. The number of musicians and
audience members has decreased significantly. Concerts are becoming rare, and ticket
prices are skyrocketing (Haynes and Marshall 2018). Younger generations are also likely to
have less disposable income, because of the higher cost of living in general post-pandemic.
To offset some of these issues, the music industry will need to adapt to survive. Artists must
contend with the acquisition of their work by corporations who will strictly regulate what
they do with it, and how much they get paid. In this time of rapid change, musicians should
find new ways to reach their audiences without going through the middlemen. In the last
decade, aspiring musicians have had new opportunities and ways to produce their work
outside of straightforward commercial music production (Haynes and Marshall 2018). This
has led to an era of independent music production that has no precedent in centuries.
Artists should also find new ways to engage audiences, such as live performances, digital
distribution platforms (such as Spotify), or crowdfunding services like Kickstarter.
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