The enemy of music : modeling the behavior of a cultural industry in crisis

Wikstrom, Patrik (2005) The enemy of music : modeling the behavior of a cultural industry in crisis. The International Journal on Media Management, 7(1&2), pp. 65-74.

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The purpose of this explorative study is to contribute to the understanding of current music industry dynamics. The situation is undeniably quite dramatic: Since the turn of the millennium, the global music industry has declined by $ US 6.2 billion in value—a fall of 16.3% in constant dollar terms. IFPI, the trade organization representing the international recording industry, identifies a number of exogenous factors as the main drivers of the downturn. This article suggests that other factors, in addition to those identified by IFPI, may have contributed to the current difficulties. A model is presented which indicates that business strategies which were designed to cope with the challenging business environment have reduced product diversity, damaged profitability, and contributed to the problem they were intended to solve.

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ID Code: 67850
Item Type: Journal Article
Refereed: Yes
Keywords: Music Industry, Business Models, Digitization
ISSN: 1424-1277
Subjects: Australian and New Zealand Standard Research Classification > COMMERCE MANAGEMENT TOURISM AND SERVICES (150000) > BUSINESS AND MANAGEMENT (150300) > Innovation and Technology Management (150307)
Australian and New Zealand Standard Research Classification > STUDIES IN CREATIVE ARTS AND WRITING (190000) > PERFORMING ARTS AND CREATIVE WRITING (190400) > Music Performance (190407)
Australian and New Zealand Standard Research Classification > LANGUAGES COMMUNICATION AND CULTURE (200000) > COMMUNICATION AND MEDIA STUDIES (200100) > Communication Technology and Digital Media Studies (200102)
Divisions: Current > Research Centres > ARC Centre of Excellence for Creative Industries and Innovation
Current > QUT Faculties and Divisions > Creative Industries Faculty
Deposited On: 26 Feb 2014 01:31
Last Modified: 21 Apr 2016 01:58

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