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

 

05
Apr
17

New Book: The Experience Factor by Geoff Luck

Geoff Luck The Experience Factor store images.004.jpegGeoff Luck of the Finnish Centre for Interdisciplinary Music Research at University of Jyväskylä recently published his new book “The Experience Factor” (see https://www.theexperiencefactor.net/).

From Adele to Zeppelin, every great song has an irresistible quality that keeps us coming back for more. But what exactly is it? And, more importantly, can it be quantified?
The Experience Factor reveals how hit songs stimulate our minds, capture our hearts and seduce our bodies to create irresistible, rewarding experiences we’re driven to repeat again and again. Underpinned by over 200 scientific studies, The Experience Factor includes more than one hundred musical examples to help illustrate the principles described. Representing some of the most successful music ever recorded, these tracks have sold over half a billion copies, been streamed more than 35 billion times, and generated a cool billion dollars in revenue.
If you love listening to music when driving, exercising, socialising or relaxing, discover the incredible ways your favourite tracks hack your basic instincts to keep you tuned-in. If you’re a songwriter, composer, artist or producer, discover how to achieve longterm success on streaming platforms by writing music that captivates listeners and keeps them listening over and over again. If you work with music in marketing & branding, sports, TV, movies or gaming, discover how to create immersive musical experiences with maximum emotional impact.

However you’re hooked on music, The Experience Factor will profoundly connect you with the soundtrack to your life.

Geoff Luck is Associate Professor at the Finnish Centre for Interdisciplinary Music Research at the University of Jyväskylä. An expert on music perception and cognition, his professional interests range from studying the science of sound and music to developing data-driven, engagement-enhancing concepts for the entertainment industry.
15
Mar
17

The Blockchained Music Business – towards a Global Music Rights Database?

On March 3, 2017, an international workshop on “The Blockchained Music Business” was organized by the Department of Cultural Management and Gender Studies (IKM) of the University of Music and Performing Arts Vienna and the Music Information Center Austria (MICA). Carlotta De Ninni (Mycelia for Music Foundation, London), Peter Jenner (Sincere Management, London) and Benji Rogers (PledgeMusic & Dot Blockchain Music, New York) were the workshop supervisors focusing on different aspects of the blockchain technology’s impact on the music business. The third part of the workshop’s summarizes the results of the workshop group discussing the question, if the blockchain is a useful tool for setting up a global music rights database. The workshop group was supervised by Peter Jenner (Sincere Management, London) and you find the summary here:

Continue reading ‘The Blockchained Music Business – towards a Global Music Rights Database?’

14
Mar
17

The Blockchained Music Business – the Intermediaries’ Perspective

On March 3, 2017, an international workshop on “The Blockchained Music Business” was organized by the Department of Cultural Management and Gender Studies (IKM) of the University of Music and Performing Arts Vienna and the Music Information Center Austria (MICA). Carlotta De Ninni (Mycelia for Music Foundation, London), Peter Jenner (Sincere Management, London) and Benji Rogers (PledgeMusic & Dot Blockchain Music, New York) were the workshop supervisors focusing on different aspects of the blockchain technology’s impact on the music business. In the second part of the workshop’s summary, we focus on the discussion of the workshop-group on the impact of blockchain technology on the music industry’s intermediaries that was supervised by Benji Rogers (PledgeMusic & Dot Blockchain Music, New York).

Continue reading ‘The Blockchained Music Business – the Intermediaries’ Perspective’




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