Seminar paper from the year 2013 in the subject Business economics
- Marketing, Corporate Communication, CRM, Market Research, Social
Media, grade: 1,3, University of Munster, course: Digital Media
Marketing Seminar, language: English, comment: Seminar-Arbeit im
Digital Media Marketing Seminar, Master Marketing an der
Westfalische Wilhelms-Universitat Munster, abstract: This seminar
paper analyses how the digitalization has changed the general
set-up of the music industry. By analyzing studies and data, the
paper illustrates several challenges that influenced record sales.
Considering the different type of players in the music industry -
record labels, online and physical retailers, and artists - this
paper will only discuss the challenges and effects of the
digitalization on the major record labels. The challenges of
digitalization for artists will not be covered in this paper;
digital music actually enhances the chance of being discovered and
for reaching a larger audience (Ankeny 2012). In this sense, the
digitalization is an opportunity, rather than a challenge for
artists. This also applies for online retailers such as iTunes and
Amazon. Since digital music does not require physical storage,
online retailers can offer music at almost zero costs. Thus, online
retailers benefit from the digitalization of music. Physical
retailers presumably lose revenue because of the digitalization of
music. However, their situation will not be discussed further, in
this paper. The major record labels are highly vertically
integrated (Neff and Blomer 2003, p. 104). Besides managing
artists, the recording companies are also in charge of the
publishing and copyrights of music. Additionally, they have
enormous production resources and strong distribution networks.
This gives the major record labels a significant competitive
advantage. However, this advantage was partly ruined by the
digitalization. In this paper, digitalization of the music industry
is limited to the impact of
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