This paper "Digital Music Business" focuses on the fact that the music industry is characterised by the element of change that has been revolutionising the industry since its very inception. The emergence of advanced technology has revolutionized every aspect of this industry. …
Download full paperFile format: .doc, available for editing
Download file to see previous pages
The effort has been taken to provide insight into the company’s strategic management framework. Based on the same, recommendations have been provided to enhance its service in the digital music industry. A conclusion has been inferred from the entire analysis.
“In the year 2009 globally, for the first time, more than one-quarter of record companies’ revenues came from digital channels” (IFPI, 2010, p.3). People can acquire albums and tracks in ways which have been unimaginable a few years ago. Fans can get hold of their favourite tracks from download stores, subscription services, streaming sites, free download sites, accompanied by their broadband or mobile phone handsets. Despite these innovations, the market failed to report significant growth in this year. Digital piracy still remains the most insurmountable barrier for the market growth. The slowdown in sales and investment in the major music markets testifies this. The global sales fell by around 30 per cent from the year 2004 to 2010. Despite all these facts, the industry has been able to build up a US $ 4.2 billion digital business, up around 12 per cent on the trade value in the year 2008. The business is focused on customer friendly services. The digital sales have been experiencing a slowdown; however, this did not stop the success stories to evolve. These success stories would nonetheless struggle to survive unless the fundamental problem of piracy is dealt with in an appropriate way.
In this year, the music business has maintained its lead to the creative industries while entering into the digital revolution. The United States has been one of the leading music markets in the world. In the US, more than 40 % of music sales come from online and mobile revenues. The worldwide music industry is diversifying its business models and revenue streams. The a-la-carte download model which has been pioneered by iTunes is still the most significant revenue source in the online sector.
...Download file to see next pagesRead More
...? DigitalBusiness Management Contents Introduction 3 Business Model 3 Online value proposition (OVP) 5 Online Revenue Model 6 Target market 7 Marketand product strategies 8 Recommendation 10 Conclusion 11 Reference 12 Bibliography 12 Introduction Prada Group is a retail store operating in Milan Italy, which started operating way back in 1913 by Mario Prada. Prada is a luxury store which sells leather hand bags, leather accessories, travelling trunks, luxury accessories and beauty cases. It is because of the designed goods which are handcrafted with fine materials and through sophisticated techniques, the store rapidly grew to be the shopping point for most of the European aristocrats and...
...This paper discusses the advent of the digital age with respect to the music industry. This particular industry has received the digital economy as a mixed blessing despite its tremendous potential for growth by wallowing in the digital culture. The paper explains why this is so, and proposes a challenge for the musicbusiness in the digital era.
The Music Industry In The Digital Economy
In the boundless ocean of the digital culture, everything should appear as a blessing. In the music industry, however, the digital age has been...
...and a host of other factors. In the internet related service provision industry it’s an unwritten rule that the aggregation of strategic supplier networks across a range of ancillary services – e.g. blogging, interface and social networking sites – have to be carefully managed because smaller firms place their products in strategic sub-segments appropriately and immediately (Gruber, 2007).
2.2. Buyer Power
Buyer power is perhaps the most effective force with far reaching consequences for the business that the company has to face. For instance customers of Apple iTunes and other digitalmusic service content providers carry such weight in the...
...such as Amazon are capable of stocking music in upwards of around 150,000 different CD titles. Specialized digitalmusic storefronts such as Rhapsody, iTunes, Music Match and Rhapsody are seen to offer an average of about one million music tracks which is roughly the equivalent of approximately more than 100,000 CDs.
The Initial Music Industry Structure and Disruption of the Status Quo
Until up to around the turn of this current century, the music industry was able to boast of having a rather stable structure. The high cost of music development, recording and distribution were absorbed by the...
...restructured its strategies and focused on developments, such as involvement in advertisements, computer games, the television, and films, as well as sale of ringtones.
In conclusion, the music industry constitutes recording, publishing, and live performance. Over the centuries, the industry has undergone numerous changes, which have in turn influenced the quality and durability of music. The changes have been stimulated by the constantly changing technology and the need to stay in business. This has been referred to as the digital revolution. Despite the many benefits that the digital revolution has impacted on the music industry,...
...DigitalBusiness Report Table of Contents Background 3 Justification of Choice of Business System Option 4 Legal Aspects 5 Marketing Strategy 6 ACCESS Model 8
Social Media Tools 10
Sales Viability 10
Electronic-commerce or E-commerce generally refers to trading through the internet. In recent times, e-commerce has been gaining profound attention from both domestic and international entrepreneurs and customers. In other words, e-commerce has provided business organisations with new opportunities for conducting their business. It has been observed that implementation of e-commerce has...
...DigitalBusiness Management: Origin.com and Introduction Business management practices are undergoing major transformations (Gitman and McDaniel, 2008). Two decades ago the concept of e-commerce and e-business was only known to a few individuals and fewer businesses were implementing it (El Sawy and Pereira, 2012). The last two decades have seen major developments in business management with the growth of digitalbusiness management being the major transformational advancement (Sigman and Boston, 2013). This paper investigates how the business environment has been transformed through digitalbusiness management. To achieve this, the paper has selected www.origin.com as the site for analysis. An analysis of the website is conducted... with a...
...Computer Sciences and Information Technology (DigitalBusiness) Supervisor: School: Word Count: 3940 Digitalbusiness, generally known as e-commerce, is a type of trade where the acquirement and selling of merchandises or services transpires over electronic schematics such as the web and other computer schemes. Electronic trade appeals on equipment such as cellular trade, electric funds transition, endowment chain management, web promotion, online corporate processing, (EDI), inventory running systems, and online statistics assortment system. A modern-day electronic transaction characteristically uses the World Wide Web at the very least at one time in the businesss...
...DIGITALBUSINESS SNAPCHAT By DigitalBusiness Snapchat
What Is Snapchat
Snapchat is a new platform of messaging. It is a messaging application developed by Reggie Brown, Josh Meyers and Bobby Murphy. These three developed this application when they were studying at Stanford University. The Snapchat application enables users to take photos, record videos, add texts and drawings, and then later send them to a controlled list of recipients. The sent photographs and videos are the ones referred to as snaps. Furthermore, this application enables users to set the time limit for how long their recipients can view their snaps, such as, as of April 2014, the range for viewing...
...The access of early stage finances by innovative start-up companies has the potential of fostering high-growth innovative and responsive entrepreneurship in 21st century competitive economy. Start-ups often fail to qualify for the traditional loans from the banks due to lack of any substantial collateral and perceived high riskiness. Venture Capitalists (VCs) and Angel Investors play a clinical role in bridging the existing financing gap in high-growth start-ups. Business angels are becoming increasingly important to source of equity capital for at the seed and early set-up stages of a business a field many VCs often shy from.
Angel investors have the following advantages; they increase the supply of...
4 Pages(1000 words)Essay
Save Your Time for More Important Things
Let us write or edit the case study on your topic
"Digital Music Business"
with a personal 20% discount.