Posts Tagged ‘music industry

31
Dec
18

Music Business Research 2018 – in retrospective

Dear all,

The music business highlight of 2018 was Spotify’s IPO on April 3rd. The public listing of the music streaming service at the New York Stock Exchange was warmly welcomed by the investors with a price per share of US $166 and a market capitalization of US $26.5bn.[1] In the following Spotify’s stock price reached an all-time high of US $196.3 at the end of July – giving it a market capitalization of US $35.3bn. In the meantime, however, Spotify’s stock price lost more than 40 percent and currently the company is worth US $20.6bn.[2] This can only partly be explained by a bearish stock market in the second half of 2018, since the S&P 500 stock exchange index lost just 11.7 percent in the same period. It seems that investors have doubts about Spotify’s business model. The business analysis highlights increasing losses despite a sharply rising number of monthly active users – currently 83m premium subscribers and 109m ad-supported monthly active users.[3] However, the music industry major companies (except Universal Music Group) and the indie label licencing agency MERLIN sold their stakes in Spotify shortly after its IPO at a profit. The recorded music majors are the main beneficiaries of the booming music streaming market, which has grown by 41.1 percent to globally US $6.6bn in 2017.[4]. In-depth analyses of the Universal’s as well as Warner’s business performance highlight that the major companies as well as larger indie labels have increasing revenues and profits due to music streaming.

Beyond Spotify and the booming music streaming, I also want to point at the following music business related topics in 2018:

  • Vivendi’s plans to sell at least 50 percent of Universal Music Group to Liberty Media (owner Sirius XM Radio Inc.), which also bought a controlling stake in US music streaming service Pandora in 2018,
  • the announcement by Chinese Tencent Holdings of an IPO of its Tencent Music Entertainment Group at the New York Stock Exchange,
  • the enactment of the US Music Modernization Act
  • and the fight over Article 13 of the pending EU Copyright Directive.

Continue reading ‘Music Business Research 2018 – in retrospective’

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21
Jul
18

Interview by Peter Tschmuck on ABC’s “The Music Show”: The Future of Music

Today on July 21st, national Australian radio station ABC broadcast a longer interview by Peter Tschmuck on the “Future of Music” in “The Music Show” presented by Andrew Ford. This episode will be repeated on Saturday and Sunday 9pm, Wednesday and Thursday 11pm (Australian eastern time).

http://www.abc.net.au/radionational/programs/musicshow/the-future-of-music/10018986

 

 

03
Apr
18

Spotify goes public – an economic background analysis

April 3rd 2018 is a historic moment in the digitized music industry, when the Swedish music streaming company Spotify is listed at the New York Stock Exchange. Spotify’s stock exchange listing is not just a touchstone for the music streaming service’s business model, but for the entire recorded music industry that is back on a path of growth. Spotify is the darling of the big music industry players. It provides a legal business model that can be monetized by hefty advances and royalty payments. This allowed the music majors and the indie label licensing agency MERLIN to become Spotify’s shareholders in return for advance payments Spotiy could not afford. Sony Music Entertainment’s Spotify stake of 5.7 percent (Spotify 2018: 148) e.g. is worth US $500m to 1.3bn.[1] The following analysis highlights Spotify’s success story, but also outlines potential risks of going public. It also analysis who benefits from Spotify’s stock exchange listing and assesses the impact on the music streaming market.

Continue reading ‘Spotify goes public – an economic background analysis’

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’

01
Dec
16

Call-for-Papers: 8th Vienna Music Business Research Days, September 12-14, 2017

vmbrd-logoThe 8th Vienna Music Business Research Days will be held at the University of Music and Performing Arts Vienna (Anton-von-Webern-Platz 1, 1030 Vienna/Austria) from 12-14 September 2017. The overall topic of the next conference is the question “Unchaining the Digital Music Business?”. Digitization of the music industry has not reduced the market and gatekeeping power of the industry’s intermediaries as predicted by the long-tail and disintermediation hypotheses. However, it seems that the digital music business has become a blockbuster business with new powerful players appearing on the scene (e.g. Apple, Google/YouTube, Amazon). However, innovations such as the blockchain technology again challenge the newly established value-added network by providing tools for artists to circumvent intermediaries. Thus, the 8th Vienna Music Business Resarch Days will highlight the current developments with new research findings.

The call-for-papers for the conference track day on September 13, 2017 encourage all researchers (from post-doc level on) to submit paper proposals on the broad field of music business research including for e.g.:

  • Past, current and future developments in the music industry (recorded music industry, live music sector, music publishing, music retailing and wholesaling, music instruments industry etc.);
  • Music market research and music charts research;
  • The economic and social situation of musicians as well as the labor market for musicians;
  • The management of musicians and music institutions;
  • Gender and diversity in the music business;
  • The marketing of music;
  • Music branding and sponsoring;
  • Public and private funding of the music sector (including new forms of music funding such as crowdfunding);
  • Case studies on music companies and other music institutions;
  • Legal aspects of the music business (contracts, copyright, competition law/policy etc.);
  • Music licensing and collecting societies;
  • Music media (radio, TV, online-based media etc.);
  • Economic aspects of music genres (classical, pop/rock, jazz, world music markets etc.);
  • Business-related music education;
  • Music export;
  • etc.

Please send an abstract of your proposal to vmbrdays@gmail.com no later than March 31, 2017.

 

Other important dates:

May 15, 2017: Notification of acceptance

July 31, 2017: Submission deadline for full papers

September 13, 2017: Conference track day

September 14, 2017: Conference day for invited speakers on “Unchaining the Digital Music Business?”

 

Registration:

Registration fee – early bird (until July 31, 2017): 175,- Euro

Registration fee:                                                    225,- Euro

End of registration (no refund after this date):      August 31, 2017

 

For students at all levels of the MA & PhD a doctoral colloquium (7th Young Scholars’ Workshop) will be held as part of the 8th Vienna Music Business Research Days on September 12, 2017. Find a separate call for papers here.

 

Contact:

Dagmar Abfalter (mailto: vmbrdays@gmail.com)

Department of Cultural Management and Gender Studies (IKM)

University of Music and Performing Arts, Vienna

Anton-von-Webern-Platz 1, 1030 Vienna, Austria

Tel.: +43-1-71155-3418

01
Dec
16

Call-for-Papers: 7th Young Scholars’ Workshop of the 8th Vienna Music Business Research Days, September 12, 2017

vmbrd-logoThe Young Scholars’ Workshop, as part of the 8th Vienna Music Business Research Days (Vienna, Austria), invites once again young researchers to submit paper abstracts of all disciplines exploring questions that help understand economic and managerial problems as well as processes of the music business sector and in the field of music management. There are many questions that call for investigation and need to be discussed in music business research, for example:

  • What drives innovation in the music business sector?
  • How can we scientifically understand and differentiate music business models?
  • What do we know about critical success factors? Have success factors changed over time – and has music business (entrepreneurship) changed in general?
  • What rationalities affect this very “personal” industry?
  • What does it mean to be self-managed in the music business?
  • What can we learn about the customer’s willingness to pay for music recordings or related goods?
  • Who will control the future music market, e.g., startups or Apple?
  • How can we understand the role of brands and the music industry?
  • And how can music business research support efforts for innovative business models?
  • What issues of gender, class or “race” exist in a music business context? How are they dealt with?

 

These research questions are not exhaustive, papers may also address other aspects.

The workshop organizers Prof. Dr. Carsten Winter (Hanover University of Music, Drama and Media) and Prof. Dr. Peter Tschmuck (University of Music and Performing Arts Vienna) strongly encourage submissions from students at all levels of MA & PhD. Students are supposed to work on their MA or PhD thesis and discuss it with senior researchers of music business research.

Abstracts (of about 1,000 characters) are due by March 31, 2017, and full papers (15-30 pages) are due by July 31, 2017. Only abstracts and papers submitted on time will be considered.

A maximum of 6-8 papers will be selected for presentation to guarantee a workshop atmosphere. The sessions will combine paper presentations and discussions including interactive elements. Information on the acceptance of the paper proposal will be sent until May 15, 2017, at the latest.

Please email your submission to viennamusicresearch@hmkw.de

Paper proposals and final papers must be submitted as pdf documents and should include contact information, at least affiliation, e-mail address, telephone number and postal address of the author(s).

 

For researchers on the post-doc level a separate call-for-papers for the conference track day on September 13, 2017 can be found here.

 

 

 




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