Globalization in the Music industry - 1293 Words

Globalization in the Music Industry Jonathan Ben Ami ACOM 388 The music industry has been around for over two centuries (PBS). Its volatility can be measured by its ability to shift and change according to its time period, the technologies that arise through the ages and the public’s shift in musical taste. The music industry is comprised of many different components, organizations and individuals that operate within it. Some of these components include the artists who compose the music themselves, the producers that engineer the sounds created by the artists, the companies that handle distribution and promotion of the recorded music, the broadcasters of the music such as radio†¦show more content†¦Over the past decade, the use of CDs has been replaced with online streaming and retailing. This has eliminated much of the record companies revenues as they were used to making most of their profit off of distribution and promotion of physical copies of artists albums (Niemen). This has caused for a major shift and remodeling of majo r players in the music industries business models. Companies such Sony, Warner Music Group and Universal Music Group have started to completely rethink the way they conduct business (Forbes). In the past record labels were not only responsible for production, distribution and promotion of an artist and his/her music, but they also acted as a bank (Forbes), funding the artists tours and recording sessions. Recently, these music giants have been moving towards becoming more of a modular network organization. What this means is that they are less occupied with the nitty gritty, and more focused on what they do best which is distribution and promotion. This also allows for more freedom of creativity for the artist as well as fairer split of profits (Forbes). This adaption of new business models clearly shows the versatility of the music industry in adapting to new times and technologies. One can only speculate the future of the music industry. As aforementioned, the music industry is in constant flux, changing shape and adapting to newShow MoreRelatedThe Impact of Globalization on the Creative Industry- Music Industry2340 Words   |  10 PagesImpact of Globalization on the Creative Industry- Music Industry | | Student Name: Lily Lee | Contents: 1.0 Introduction: 2 2.0 Music Industry: 2 2.1 Music Industry Value Chain 4 2.11 Beginning: 4 2.12 Production: 5 2.13 Circulation: 5 2.14 Distribution: 5 2.15 Consumption: 6 3.0 Technology Globalization impact on Music Industry: 6 4.0 Trade Globalization impact on Music Industry: 8 5.0 Conclusion: 9 6.0 Reference: 11 7.0 Appendix: 12 Appendix 1: The Core Cultural Industries 12 AppendixRead MoreThe Negative Effects Of Globalization762 Words   |  4 Pagesworld. From what I have read, I have noticed, to a large extent, the positive aspects of globalization. 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