Posts Tagged ‘Live Music market

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’

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19
May
16

Live Nation in the Digital Paradigm Shift

In the course of digitization new players entered the music industry changing the rules of the game. Such a player is Live Nation. Live Nation Entertainment is the result of the merger of the world’s largest music promotion company, Live Nation, and the world’s largest ticketing company, Ticketmaster, in 2010. The Ticketmaster-Live Nation merger marks the beginning of a new era in the music business, with all activities within the industry now being integrated, including live music events, venue operations, ticketing services, sponsorship and advertising sales, and artist management and services (Live Nation 2015: 4). In the following Live Nation’s business model and economic performance after the merger is portrayed and analysed.

Continue reading ‘Live Nation in the Digital Paradigm Shift’

26
Oct
11

Ticket Masters – Part 6: The Begin of a New Era – the Ticketmaster-Live Nation Merger

“Ticket Masters. The Rise of the Concert Industry and How the Public Got Scalped” by Dean Budnick and Josh Baron is one the first books that highlight the emergence of the modern concert industry by telling the story of the rise of its main players: Ticketmaster and Live Nation. It gives a deep insight into the processes within the network of concert promoters, ticketing firms and artist agencies and how this network has evolved over the decades.

In the last part of the summary of Budnick’s and Baron’s book the merger of Ticketmaster and Live Nation as well as the emergence of 360 deals are highlighted.

Continue reading ‘Ticket Masters – Part 6: The Begin of a New Era – the Ticketmaster-Live Nation Merger’

06
Oct
11

Ticket Masters – Part 5: SFX Entertainment and the Revolution in the Concert Promotion Business

“Ticket Masters. The Rise of the Concert Industry and How the Public Got Scalped” by Dean Budnick and Josh Baron is one the first books that highlight the emergence of the modern concert industry by telling the story of the rise of its main players: Ticketmaster and Live Nation. It gives a deep insight into the processes within the network of concert promoters, ticketing firms and artist agencies and how this network has evolved over the decades.

Until the mid-1990s the US concert promotion business was dominated by local venues and promoters. This changed dramatically when SFX Entertainment appeared on the scene. In part 5 the rise of SFX Entertainment to the main power of concert promotion and its transformation into Live Nation is summarized.

Continue reading ‘Ticket Masters – Part 5: SFX Entertainment and the Revolution in the Concert Promotion Business’

30
Sep
11

Ticket Masters – Part 4: Online Ticketing and the Secondary Market

“Ticket Masters. The Rise of the Concert Industry and How the Public Got Scalped” by Dean Budnick and Josh Baron is one the first books that highlight the emergence of the modern concert industry by telling the story of the rise of its main players: Ticketmaster and Live Nation. It gives a deep insight into the processes within the network of concert promoters, ticketing firms and artist agencies and how this network has evolved over the decades.

In the first decade of 21st century the ticketing market was fundamentally changed by the launch of online ticket platforms on the Internet. In part 4 Ticketmaster’s strategy towards online ticketing is highlighted as well as the rise of ticket scalpers to secondary market ticketing firms is outlined.

Continue reading ‘Ticket Masters – Part 4: Online Ticketing and the Secondary Market’

20
Sep
11

Ticket Masters – Part 3: The Ticketmaster’s Challenge: The Grateful Dead, Pearl Jam and String Cheese Incident

“Ticket Masters. The Rise of the Concert Industry and How the Public Got Scalped” by Dean Budnick and Josh Baron is one the first books that highlight the emergence of the modern concert industry by telling the story of the rise of its main players: Ticketmaster and Live Nation. It gives a deep insight into the processes within the network of concert promoters, ticketing firms and artist agencies and how this network has evolved over the decades.

Ticketmaster had a more or less monopolistic position in the ticketing market after the purchase of its main competitor Ticketron. In part 3 the conflicts between Ticketmaster and bands such as The Grateful Dead, Pearl Jam and String Cheese Incident over the right to sell tickets are highlighted.

Continue reading ‘Ticket Masters – Part 3: The Ticketmaster’s Challenge: The Grateful Dead, Pearl Jam and String Cheese Incident’

14
Sep
11

Ticket Masters – Part 2: The Rise of Ticketmaster

“Ticket Masters. The Rise of the Concert Industry and How the Public Got Scalped” by Dean Budnick and Josh Baron is one the first books that highlight the emergence of the modern concert industry by telling the story of the rise of its main players: Ticketmaster and Live Nation. It gives a deep insight into the processes within the network of concert promoters, ticketing firms and artist agencies and how this network has evolved over the decades.

After the main players of electronic ticketing service in the 1970s established a modern ticketing market, only Ticketmaster survived. In part 2 the “Rise of Ticketmaster” into a more or less monopolistic market position is highlighted.

Continue reading ‘Ticket Masters – Part 2: The Rise of Ticketmaster’




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