20
Jun
17

Spotify Earnings: Growth Comes At A Cost

An excellent analysis by Mark Mulligan on Spotify’s economic fortune.

Music Industry Blog

spotify metrics

Spotify has published its much anticipated 2016 revenues. Because the company is under so much analytical scrutiny, there is little that is particularly surprising but there is still plenty we can learn from the results:

  • Growth maintains momentum: Spotify recorded revenues of €2.9 billion in 2016, up 51% from €1.9 billion in 2015. Although that was a lower growth rate in % terms (80% for 14/15), it was a bigger net add in revenue terms (€989 million net new revenue in 2016 compared to €863 million in 2015). Spotify still has some way to go before it challenges Netflix’s $8.2 billion streaming revenue, but it is making clear progress.
  • Spotify is getting ready for public reporting: The 2016 accounts featured heavy restating of previous year figures and many line items from last year’s accounts were no longer reported. All of which points to an organization getting its reporting structures in…

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08
Jun
17

The Economics of Streaming – book presentation event in London on June 15, 2017

My new book – The Economics of Music – that has been recently published by Agenda Publishing will be presented to the public in a MusicTank event at the University of Westminster from 7:00pm-9:30pm on June 15, 2017. After a short introduction to the book , I will discuss the question “The Economics of Streaming: Full Stream Ahead?” with Sally Gross (University of Westminster), Peter Jenner (Sincere Managment) and Mark Mulligan (Midea Research Consulting) chaired by Keith Harris (Keith Harris Music Ltd.).

Location: Fyvie Hall, University of Westminster, 309 Regent Street, London, W1B 2UW

Date: June 15, 7:00pm to 9:30pm

Click here for more information: MusicTank webpage

 

Peter Tschmuck, 2017, The Economics of Music. Newcastle-upon-Tyne: Agenda Publishing.

Hardback £55.00 | $70.00 ISBN 9781911116073
Paperback £16.00 | $23.00 ISBN 9781911116080
e-book £16.00 | $23.00 ISBN 9781911116097
Buy a book copy here: Agenda Publishing

 

 

 

 

 

31
May
17

8th Vienna Music Business Research Days on “Unchaining the Digital Music Business?”

The 8th Vienna Music Business Research Days will be held again at the University of Music and Performing Arts Vienna from September 12-14, 2017. This year’s conference topic is “Unchaining the Digital Music?”. Digitization has brought music streaming to the centre of the music industry’s value-added network and new gatekeeping processes have been established by new and “old” players of music business.

The morning session of the the invited conference day on September 14, therefore, will focus on new gatekeeping process in the digital business with a introductory talk by Daniel Nordgård of University of Agder/Norway and a panel discussion with Sally Gross (Westminster University, London), Sarita Stewart (Mike Curb College of Entertainment & Music Business, Belmont University Nashville/USA), Scott Cohen (The Orchard, London and New York), Jake Beaumont-Nesbitt (International Music Managers Forum, London) moderated by Daniel Nordgård.

George Musgrave of the University of Westminster in London will wrap up the panel discussion with his talk on  “Control and Autonomy in the Digital Music Business” providing a model for new gatekeeping processes in the digital music industry.

 

In the afternoon session the keynotes by Paul Crick (Senior Managing Consultant, Digital Transformation, Media & Entertainment, IBM, Flintham/UK) and Wolfgang Senges (Strategic Consultant in Digital Media, ContentSphere, Berlin) will explain the fundamentals of blockchain technology and how it could disrupt the music industry again. Please read my blogpost “The Music Business in the Blockchain” to learn more about the impact of blockchain technology In the following panel discussion both keynote speakers will discuss the question “Unchaining the Digital Music Business?” by new technologies such as the blockchain with Carlotta de Ninni (Mycelia for Music Foundation, London), Kelly Snook (Professor of Media Arts Technology, University of Brighton/UK), Peter Harris (resonate, Berlin).

On September 12, the VMBR-Days 2017 will traditionally be opened by the  Young Scholars’ Workshop. Master and PhD students from Austria, Barbados, Canada, Germany, Serbia and South Africa will present their research result in a closed workshop to an international group of highly regarded music business researchers.

The next conference day on Sep. 13 will be devoted to a broad range of music business research papers submitted by academics from all around the globe.

Find the conference’s program – including registration details – here: https://musicbusinessresearch.wordpress.com/vienna-music-business-research-days-2/

 

23
May
17

Book review: The Economics of Music by Peter Tschmuck

My new book “The Economics of Music” is now avaiable in the bookstores. “The Economics of the Music” is a concise, scientifically grounded textbook on the economic fundamentals of the music industry in particular and the music economy in general. It aims to highlight the economic principles that govern the music business by analysing music as an economic good that is protected by copyright law. The book therefore includes a chapter on the microeconomics of music as well as a chapter on the economics of music copyright that is mainly based on findings of institutional economics. The main parts of the book focus on the different sectors of the music industry – music publishing, sound recording, the live music market, and secondary markets such as media and advertising – in order to explain the network of actors in those sectors and how these markets are organised and linked. The music labour markets are treated in a separate chapter. It highlights different income streams for musicians, occupational careers in the music business, and music-related occupations in the wider music economy (education, advocacy, lobbying, etc.). Since digitization has a tremendous impact on the music business, a final chapter on the “Digital Music Business” highlights the new rules, structures, and processes that were established by the digital revolution in order to foreground the structural break the music economy underwent. The last chapter, therefore, refers back to the opening chapter on “A Short Economic History of the Music Business,” which provides an overview from music patronage  to the current digital music economy.

Peter Tschmuck, 2017, The Economics of Music. Newcastle-upon-Tyne: Agenda Publishing.

Hardback £55.00 | $70.00 ISBN 9781911116073
Paperback £16.00 | $23.00 ISBN 9781911116080
e-book £16.00 | $23.00 ISBN 9781911116097
Buy a book copy here: Agenda Publishing

Continue reading ‘Book review: The Economics of Music by Peter Tschmuck’

15
May
17

WMG makes recorded-music market share gains, while indies extend publishing lead

Music & Copyright recently published the global market shares of the recorded music and the music publishing markets for 2016.

Music & Copyright's Blog

The annual survey by Ovum publication Music & Copyright of the recorded music and music publishing sectors has revealed the changes in global market share for the three major music groups and the independent sector. For the second consecutive year, recorded-music leader UMG lost market share, while smaller major WMG closed the gap on second-placed SME. Sony remained the leader in terms of corporate control of music publishing, though its share has fallen for two straight years. Little change in share for second-placed UMPG meant the company narrowed the gap with Sony. The collective shares of the independent publishing sector registered the biggest publishing share increase.

Shifting market shares, but majors still dominate
According to Music & Copyright, UMG had a 32.8% share of combined physical and digital recorded-music trade revenue last year, down from 33.7% in 2015. For physical revenue only, UMG’s share stood at 30.2%, while its…

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05
May
17

The US recorded music market in a long-term perspective, 1990-2016

The Recording Industry Association of America (RIAA) recently published the shipment figures for recorded music in the US for 2016. The statistics highlight a tremendous shift from selling music (CDs and downloads) to accessing music (by streaming services). In the US, music consumers paid for the first time more for music access by ad-supported and paid streaming services (US$ 3.9bn) than for CDs, music downloads and ringtones (US$ 3.5bn).

 

Figure 1: Selling and accessing music in the US, 1990-2016

Source: RIAA Year-End Industry Shipment and Revenue Statistics, reports 1990-2016

 

Thus, the US turned into a music streaming economy last year. It was a long way from a pure physical recorded music market in the 1990s to a yet digitized and music streaming driven market. The following blog entry identifies different periods of the US phonographic market and explains the driving forces of the change.

Continue reading ‘The US recorded music market in a long-term perspective, 1990-2016’

28
Apr
17

International Journal of Music Business Research – April 2017, vol. 6, no. 1

This April 2017 issue of the International Journal of Music Business Research (IJMBR) features one theoretical and two empirical papers on different aspects of music business research.

In the first article “A methodology for cultural music business research”, Lorenz Grünewald-Schukalla of the University of Applied Sciences of Media, Communication and Management Berlin proposes a promising methodology for cultural music business research. In the second article – “The impact of digitalisation on the recorded music consumption. An Estonian case study” – Juko-Mart Kõlar of the Estonian Business School in Tallinn analyses disparities in recorded music consumption among different age and gender groups in Estonia. The third article by Arilova A. Randrianasolo of the Boler School of Business at the John Carroll University in Ohio and Jeremiah Sala of the University of Missouri in Saint Louis link musicological analyses with econometrics. In “Song product characteristics and music commercial performance”, they investigate how tempo, song key and genre influence a song’s commercial performance. The book review by Daniel Nordgård of “The New Music Industries: Disruption and Discovery” by Diane Hughes, Guy Morrow, Sarah Keith and Mark L. Evans of Macquarie University Sydney rounds up the IJMBR’s April 2017 issue.

 

Volume 6, no 1, April 2017

Editorial by Peter Tschmuck, pp. 4-5

Lorenz Grünewald-Schukalla: A methodology for cultural music business research, pp. 6-34

Juko-Mart Kõlar: The impact of digitalisation on the recorded music consumption. An Estonian case study, pp. 35-50

Arilova A. Randrianasolo & Jeremiah Sala: Song product characteristics and music commercial performance, pp. 51-75

Book review by Daniel Nordgård: The New Music Industries: Disruption and Discovery by Diane Hughes, Guy Morrow, Sarah Keith and Mark L. Evans, pp. 76-78

 




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