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Monetizing intellectual property in the changing music industry (Paperback)
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Monetizing intellectual property in the changing music industry (Paperback)
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Seminar paper from the year 2010 in the subject Business economics
- Marketing, Corporate Communication, CRM, Market Research, Social
Media, grade: 2,0, Cologne University of Applied Sciences (Fakultat
fur Wirtschaftswissenschaften), course: Export Management and
International Marketing, language: English, abstract: Imagine a
world without music and you will realize it's a fundamental part of
our lives. It's something we encounter daily; both in our working
lives and leisure time, and is as essential a part of our culture
as the written word. As something that is both inherently desirable
and necessary for a full life, it's a valuable commodity, and
traded as such all over the world. The development of the music as
an industry was itself a fundamental process in the way consumers
accessed music, brought about by the desire of composers and
performers in the 18th century to free themselves of the
restrictions on their work that were imposed by the princes and
bishops who sponsored them. In realizing that people were willing
to pay for the privilege of hearing or playing their music, they
sold their works in print and charged for their performances, and
thus bought their artistic freedom. At present the industry is
going through a period of great change. The introduction of the
digital download market has meant re-thinking of business models
and finding new sources of revenue, as well as new ways in which to
protect interests. It's tempting to see such periods of change as
deeply negative but the industry has gone through many such
periods, and has continued to flourish and adjust itself over the
decades. In this term paper I will discuss the recent changes
within the music industry and how this is effecting the
monetization of intellectual property. I will focus on the two main
groups, labels and artists, while pointing out the effects and
opportunities of these changes for each of them. While doing so Ill
try to highlight the relevance of credits in music alon
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