...The music industry has been revolutionized by the innovations brought about by technology. It is time where artistes and musicians specifically are facing challenges with regards to ownership of their music which has been invaded by people from all over the world. A while ago before the technological breakthrough musicians used to get ownership of their music fully by targeting the main avenues that channeled their music to the masses. This proved to be very easy and simpler for the musicians but in the wake of the technological revolution the situation has drastically changed. The issue of ownership has become a debate topic and very little progress is made with regards to solving the particular issue. The technological invention has cut off...
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...Running Head: IMPACT OF TECHNOLOGY ON MUSIC INDUSTRY The Cultural and Economic Impact of Technology on Music Industry [Name of Author] [Name of the Institution] Abstract Technology has played a pivotal role in evolving every industry at global scale, music industry is also influenced by technology. The impact of technology on the music industry has a mix reaction from the cultural and the economic domain. In this paper I will critically analyze the research on impact of technology mentioned in different journals, books, articles and papers. In order to compile this report a simple hierarchy has been followed. The impact in the cultural domain will be examined, its proposed solutions will be highlighted and alternative research methodologies will be defined. Then impact on the economic sector of the music industry will be critically reviewed in the evidence of different papers. Role of governing authorities will be examined and then proposed solutions will be defined. Table of Contents Abstract 2 Introduction 4 Discussion 5 Cultural Impact of Technology on Music Industry 5 Negative Impact 6 Economical Impact of Technology on Music Industry 7 Positive Impact 7 Negative Impact 7 Conclusion 8 References 10 Cultural and Economical Impact of Technology on Music Industry Introduction Music is a form of art essentially created for the purpose of entertainment. It has now evolved as a resource of expression for multiple human activities ranging...
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...OF KNOWLEDGE WORK INFLUENCES MUSIC INDUSTRY For Music production and recording industry YUXIN GONG 2014.4.6 Excusive summary Introduction 1.0 Automation effects amateur music player 2.0 Automation highly influences Professional music industry 2.1 Auto-tune 2.2 Low Frequency Oscillation Conclusion References 2 Executive summary People from all ages and races love music. Since everything is under rapid development, music industry has a huge improvement with the use of technology. It is still controversial whether the high-tech used in music is good. Some music fans are no longer satisfied with the music industry while some people become more enthusiastic than before. Artists also have contrasting views in the innovation of technology, especially automation of knowledge works. I did some research both online and in the library and did interviews with different music players to support this background report. The interviewees are from different levels and working on distinguished styles of music. Thus, I can get enough information from various aspects. Here, I am going to divide music players into two groups: amateur and professional. It will be easier to evaluate the automation’s effects. At the end of this report, there is an expectation of how automation will influence the music industry more in the future and whether humans’ talent will be replaced by these automation works someday. For amateur music player, automation gives them...
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...Sony Music Entertainment and the Evolution of the Music Industry Table of Contents Table of Contents…………………………………………………………………………………............................2 Recommendations…………………………………………………………………………………………………………..3 Appendix 1………………………………………………………………………………………….…………………………. 5 Appendix 2………………………………………………………………………………………….…………………………. 11 Appendix 3…………………………………………………………………………………………………………………….. 13 Appendix 4………………………………………………………………………………………….…………………………. 15 Appendix 5………………………………………………………………………………………….…………………………. 16 Appendix 6………………………………………………………………………………………….…………………………. 17 Appendix 7………………………………………………………………………………………….…………………………. 17 Appendix 8………………………………………………………………………………………….…………………………. 18 Appendix 9………………………………………………………………………………………….…………………………. 20 Appendix 10……………………………………………………………………………………….…………………………..21 Appendix 11……………………………………………………………………………………….…………………………..21 2 Recommendations 1. I recommend Sony continues to fight for market share in the digital media segment by investing in improvements to address the low, 3 star rating of its streaming service to allow it to compete with the large competitors, Spotify and Pandora. In 2014, The three main methods of digital music distribution included digital download, Internet radio, and interactive streaming. (Appendix 1) Sony’s operating income increased for the first time in 4 years due mainly to lowering costs and growth in digital revenue. As revenue from digital increases, Sony should...
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...Music Piracy and its Effects on the Demand, Supply, and Prosperity of the Music Industry Abstract In an era where pop culture and technology are rapidly growing, intertwining and becoming embedded in the everyday lives of Americans, it was inevitable that their paths would cross. Possibly the most affected medium of pop culture is the music industry. The growth and development of the internet is either their biggest gift or biggest curse. Modern technology has made wide-scale trading of music possible in the form of MP3 files available over the internet for free. Users can simply upload the files to these sharing sites and millions of others at any given time have the ability to download it from them. The Recording Industry Association of America, however, doesn’t share the enthusiasm about these file sharing practices. To them, it is stealing from the record company and from the artist themselves. Consumers don’t tend to see it that way. The issue that arises here is whether or not should music be accessible for free trade over the internet. On the one hand, it is thought that MP3 downloads reduce sales of legitimate CDs. On the other hand, it can be argued that downloading free MP3s could actually encourage someone to buy a CD which they may not have purchased had they not heard it in its entirety. This is known as the sampling effect. The focus of this research paper will be to paper analyze the impact of music file sharing on the demand, supply, and prosperity...
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...Marketing music products alongside emerging digital music channels Esmée had been working in the music industry as a marketing director for a small and successful independent record label for over fifteen years before deciding to study at university. She had witnessed many changes in the music industry over her career, the most significant of which was the transition from selling cassettes, vinyl records and CDs at retail to selling digital music online. She had observed that the music industry had not taken much notice of the potential for marketing and distributing digital music online until Shawn Fanning developed his peer-to-peer (P2P) file trading application, Napster, in 1999. While the music industry focused on shutting the service down, Napster became even more popular with music fans and consumers who were interested in discovering and sharing new music and creating custom compilations or playlists without having to buy entire albums. Early on, Esmée had decided that she needed to understand why Napster was so popular and consumers so enthusiastic about sharing music online. She decided to download the Napster application and was surprised to find older songs that were no longer available at retail, previously unreleased recordings, alternative studio versions and bootleg recordings made at live concerts. While searching for and downloading music, Esmée also began to interact with communities focused around their file trading activities. While the music industry...
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...Napster & MP3: Redefining The Music Industry Introduction Napster was the first, very innovative music technology application that allowed users to download MP3 from the internet and other peers for free, or at a cost. Napster strongly adapted the word sharing and put it their own terms to avoid any copyright infringement but it ended badly on their part. This disruptive technology was leading the market and had over 60 million users by 2001. Although very similar technologies were soon after developed, Napster was still on top and lead the market. Many users knew exactly what they wanted but getting it seemed to be the difficult part once Napster and the RIAA went into a legal battle. More commonly, the industry has been shaped from Napster and the base product that has been derived. Napster may have been a failure to the industry but it shaped the industry for the future from 2001 until present and for years to come. 1. What is Napster’s business model? Being as though Napster was the first to market with their music search engine for MP3 files, they successfully managed to set up an online community where users could download these files. Napster had its market segments and was targeting the college and high school demographic, as described in the case study. The main objective was to give users the opportunity to listen to the songs before they wanted to go ahead and purchase them. During the dot.com boom, when Napster was created, it seemed as though the developers...
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...RIAA and Associated Record Companies: Embrace the Digital Music Era Our forms of music have drastically changed in correlation to current cultural advances. We have gone from vinyl records to cassettes, which were very popular in the 1970s followed by the revolutionary digital technology of a compact disc. Now, we are in an era that is progressively becoming more and more digitized with different audio formats through the Internet. Every day, thousands of people with a computer or access to one participate in peer-2-peer networks to share digitized formats of music, videogames, movies or other applications (“Peer-to-Peer File-Sharing”). The shift of music from compact discs to mp3’s has financially affected the music industry. Not only is money lost on the decreasing sales of outdated CD’s, but also on litigation circling the issues of copyright. Any downloaded music, videogames, movies, or applications from peer-2-peer networks sites are protected by copyright law and once downloaded are now considered copyright infringed. Over the years, The Recording Industry Association of America (RIAA) and its associated record companies have taken much time and spent a good amount of money to conduct investigations and prosecute individuals involved in illegal music file sharing and copyright infringement. However, the Internet has proven to move faster than the prosecutions of individuals responsible for illegal music downloading, which, in the long run, has had very little effect...
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...the Music Industry As Albert Moran puts it, “film is an economic commodity as well as a cultural good” (Albert Moran, 1996) and therefore, the struggle to dominate the market for films and music has continued for such a long time. These cultural products because of the industrial processes they follow of production, distribution and consumption fall into the category of an industry and are immensely affected by the forces of the market. Distribution is the key factor in determining who would rule the industry as it forms the link between the production of the media goods and their exposure to the target audience. Over the years the cultural industry has evolved imbibing newer technologies and making space for newer companies to make their mark. This process of evolution has been intercepted with changes in its economic and sociological structure owing to the external economic, social and political factors and also technological advancements. Ownership of the media forces to a great extent amounts to a huge control over the global economy and also means greater political and cultural power. Hesmondhalgh, in his book, The Cultural Industries, points out that there has been an "interweaving of change and continuity" in the cultural industry since the 1970s (Hesmondhalgh, 2007). However, this hasn’t ever been a smooth process for the older and established companies who had to face challenges from the new market players. The music industry had to grow from the sheet music days...
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...E-Business Technologies The affects of the iPod on music industry Table of Contents Section 1: Introduction Page 4 Section 2: Technology Adoption Page 4 Section 3: Value Chain Page 5 Section 4: Relationships Page 6 Section 5: Conclusion Page 7 Section 6: References Page 7 Introduction The purpose of this report is to discuss the functions and features of Apple’s innovative MP3 player. I will be relating to the Schumpeterian model, as to how the iPod led to rapid mainstream adoption, whilst similar products failed. I will also consider the opportunities which promoted this device and the challenges that the Apple iPod currently face, highlighting the effects on the traditional music industry value chain, compared to the current value chain. In addition, I will discuss how the iPod developed working relationships which has assisted in Apple’s e-business success. I will then finish by concluding my findings. Technology Adoption The Schumpeterian model looks at the relationship between technological innovation and business activity. According to Perez (2002) there are five typical stages of each wave, which I will briefly describe. Irruption The Apple iPod was launched in 2001, a sleek and stylish MP3 player with an easy user interface, compressing digital audio files the iPod holds up to 1,000 songs...
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...competitors and planted the roots for a 360 degree Social Customer Relationship Management and a capability for social commerce. By early 2012 the music industry in India had witnessed remarkable changes. With the rapid growth in Internet penetration and usage, innovative technology was driving music production, access and consumption. Sales from digital platforms had surpassed sales from traditional physical formats, such as CDs and tapes. With the distribution of digital music in India largely skewed towards the telecom business, music was increasingly being accessed via mobile devices, including smartphones and tablets. Overall, the role of the recording company seemed to be diminishing. While some of the leading companies in the music industry were testing the waters in the digital space, new players, including technology companies, were quickly entering the market with various new platforms and services. Sony Music has unveiled its ‘India Segmentation Study’, the country’s first and largest research undertaken to analyse psychographic and demographic profiling of Indian audiences based on their music consumption patterns. It offers a never seen before insight into the life of a consumer over-layed with their music preferences. Sony Music Segmentation Study is researched and conceptualised by the International Insight Team at Sony Music UK and India, along with market research giant GMI (Global...
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...Polyphonic HMI: Mixing Music and Math So few songs actually become hits—Las Vegas gives you better odds than the music industry! You might as well just put a million dollars on red and spin the wheel . . . — Ric Wake, Independent Music Producer In late 2003, the management team of Barcelona-based Polyphonic HMI was preparing to launch an artificial intelligence tool that they believed had the potential to create tremendous value for the music industry. The technology, referred to as Hit Song Science (HSS), analyzed the mathematical characteristics of music (by isolating aspects such as melody, tempo, pitch, rhythm, and chord progression) and compared them with characteristics of past music hits, making it possible to determine a song’s hit potential. Mike McCready, the CEO of Polyphonic, explained: The music industry has always used two criteria to determine if a song will be a success. One is that it sounds like a hit. They have professionals at the music labels who are paid to determine if a song sounds like a hit. And two is that they have an idea how they can bring the artist and the song to the market. The problem is that the industry has about a 10% success rate: only one in 10 songs that get promoted ever charts. We add a third criterion—that it has to have optimal mathematical patterns—and significantly increase success rates. “This piece of technology is truly special,” he raved. “In one of our early tests, HSS generated unusually high...
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...11………………………………………………………………14 Exhibit 1: Dominant Economic Features Market Size and Growth Rate Record Label Market Size: * Total revenues for the music industry in 2011 was 7.4 billion dollars * Sony accounted for 27.6% of total market share * There were 231 businesses in this industry in 2011 * Regulation was heavy, the change in technology was high--causing revenue volatility--the barriers to entry were high, and competition was high. * See Photo: Market Growth Rate * Total Album Sales- Sony was second highest with 29.29% of the market share, behind the leader Universal by a slim 0.56% * Sony was still the leading holder of market share in physical album sales at 31.08% * In digital sales, Sony was still behind Universal by 2.99% and 6.76% in album sales and individual track sales, respectively. * Record labels as a whole were in decline * Regulation was high, as was change in technology * Internet was making it easier and easier for the artists to cut out the middleman * See Photo: Publishing Market Size: * Revenues totaled 4.9 billion dollars * Sony was the 4th largest in the industry with 7.7% of the market share * There were 1,528 businesses in the industry * Regulation was heavy, change in technology was medium, barriers to entry...
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...globalization and technology have impacted the music industry. This paper will also apply the industrial organization model and the resource-based model to determine how the music industries earn above-average returns. This paper will explain how the music industry’s success is through its mission and vision statements with Universal Music Group as an example. Finally, this paper will evaluate how the importance each category of the stakeholder impacts is to the overall success of the music industry. Assess how globalization and technology changes have impacted the corporation you researched. The company researched was Universal Music Group because the music industry is ever growing and wanted to know more about the company. As we all know, technology has been a major part of the music industry both good and bad. Technology has helped plenty of artists and hurt others. Since the introduction of the mp3 and the popularity of the IPOD device, compact disc sales have declined and more music is being released without the record company’s permission. Some may view this as a major problem to the other major record labels that distribute music globally. But some are using the mp3 to their advantage. A while ago an artist could not walk out of a studio and release a record in ten minutes. Now artists can get the music to their fans in record time and the fans can then download the song a lot faster than a drive to the local record store. Overall sales are down in the music industry, but according...
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... Abstract With information technology advancements and a more computer savvy world, the audio recording medium and digital medium have merged, changing the sound recording industry forever. This convergence has blurred the line between professional and amateur sound recordings. Technology has made new products smaller, feature rich and more affordable where anyone can record their music and offer it on the web for the whole world to enjoy. This medium convergence has closed the gap between musicians and listeners and brought forth a famine in the recording industry, which in turn, has brought new opportunities to the dying market. What does this mean to us? In short terms, with new digital formatting software available to anyone, the compression of music waves, and the technological advances, the recording industry is struggling to stay afloat. This statement is pretty remarkable, being that the world’s leading recording engineers are having difficulties keeping business alive with the evolution of technology. It is evident, recording engineers need to step backwards to differentiate themselves and find better innovative ways to keep the recording business profitable. This transformation in the world of recording, is affecting all of us as both consumers and producers of audio content. The following research paper discusses these convergence changes with a short look into the history of the recording industry and the transformations that have come about...
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