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The Economics of Music 2nd Edition by Peter Tschmuck ISBN B097C4RDRY 9781788214278

Name: The Economics of Music 2nd Edition by Peter Tschmuck ISBN B097C4RDRY 9781788214278
SKU: EB-44182666
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The Economics of Music SECOND EDITION (The Economics of Big Business) Peter Tschmuck Digital Instant Download

Author(s): Peter Tschmuck

ISBN(s): B097C4RDRY

Edition: 2

File Details: PDF, 4.95 MB

Year: 2021

Language: English

SKU: EB-44182666 Category: Business & Economics - Industries Tag: Peter Tschmuck

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The Economics of Music 2nd Edition by Peter Tschmuck – Ebook PDF Instant Download/Delivery: B097C4RDRY ,9781788214278
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ISBN 10: B097C4RDRY
ISBN 13: 9781788214278
Author: Peter Tschmuck

The music industry is one of the most dynamic and fascinating business sectors. Its business model has had to evolve and adapt to continually changing technologies that impact at every level from distribution to artist management. Its latest challenge has been the closure of live music venues during the Covid-19 pandemic. The second edition of this much used introduction to the economic workings of the music business has been updated to include analysis of the impact of the pandemic as well as new trends in the industry, such as the increasing dominance of tech companies and big data and the growing importance of collective management organizations as market players, which has impacted on new business contracts. At a time when live performance outstrips music sales as the primary source of income for today’s musicians, this new edition also examines how different stakeholder positions have shifted. The book remains a rigorous presentation of the industry’s business model, the core sectors of publishing, recording and live music, and the complex myriad of licensing and copyright arrangements that underpin the industry. The revenue streams of recording companies are analysed alongside the income stream of artists to show how changing formats and distribution platforms impact both industry profit margins and artists’ earnings.

The Economics of Music 2nd Edition Table of contents:

1 A short economic history of the music business

The era of music patronage

From the Middle Ages to the Renaissance

The opera business

The era of music publishing

Professionalization and commercialization of the musical occupation

The rise of commercial concert life

Music publishing as the core of the music industry

The emergence of the recorded music industry

The era of broadcasting

Consolidation of the recorded music industry

The music industry as radio industry

The era of the recorded music industry

The rock ‘n’ roll revolution

The oligopolization of the recorded music industry in the 1960s and 1970s

The era of the digital music industry

The rise of the compact disc and the superstar business

The merger mania in the recorded music industry

The digital revolution in the music industry

The growing importance of the live music business in the music industry

2 Microeconomics of music: music as an economic good

The fundamentals of the music market economy

The rise of concert ticket prices: are CDs and concert tickets complements?

Is file sharing a substitute for recorded music sales?

Music and market failures

Music as a public good with positive externalities

Music as a merit good

Music as a club good

Music as an information good with network externalities

Music as a common good

3 Economics of music copyright

The justifications for a music copyright

The monopoly

Monopolistic competition

The oligopoly

Monopoly power and optimal copyright terms

The economic problems of a copyright term extension

The optimal length of copyright protection

4 Music publishing

Music publishing functions

Public performance rights

Mechanical rights

Synchronization rights

Online rights

Print music publishing

The market and industry structure of music publishing

5 Sound recording

Sound recording functions

The A&R function

The production function

The marketing function

Product policy

Price policy

Physical and digital music distribution policy

Promotion

The market and industry structure of sound recording

The physical recorded music market

The digital recorded music market

Industry structure of the sound recording industry

6 Live music

Live music market functions

Music promoters and festival organizers

Promoters

Festival organizers

Concert venue operators

Music agents and bookers

Support services and ticketing

The market and industry structure of live music

The live music market

Industry structure

7 Secondary music markets

Radio broadcasting

Television

Produced music

Synchronization licences for pre-existing music

Performance fees

Music television

Motion pictures

Commercials

Gaming

Sponsorship and branding

Merchandising

8 Music labour markets

Superstar theories

Artistic labour market theories and the music sector

Revenue streams for musicians

Secondary music labour markets

9 Economics of the digital music business

The economics of music streaming

A typology of music streaming services

Passive Internet radios and webcasters

Non-interactive personalized web radio

Interactive personalized web radio

Video streaming platforms

Cloud-based music services

Content acquisition model of music streaming services

Revenue model of music streaming services: Spotify

The digital music value-added network

Disintermediation and intermediation in the digital music business

Artrepreneurship in the digital music business

Prosumption in the digital music business

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Tags: Peter Tschmuck, Economics, Music

The Economics of Music 2nd Edition by Peter Tschmuck ISBN B097C4RDRY 9781788214278

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