Analysis of the Music Industry - 30024 Words

Music may be defined romantically as `the food of love (Shakespeare) or more prosaically as `sound with particular characteristics (Wikipedia), but it is undeniably a `vibrant artform (Arts Council England) and one which touches more people, in more ways, than any other art form. In commercial terms, music certainly generates a higher market value than the other arts, although a comprehensive market size for music in all its manifestations is impossible to calculate. Key Note has put a value of  £3.03bn on consumer spending on music in 2005, derived from three sectors: recorded music (which accounts for the bulk of the market), live music and musical instruments. However, data for other related markets are included, such as†¦show more content†¦Each chapter of the report starts with more detailed definitions and coverage. For coverage of recorded music, Key Note is grateful to the statistics and commentary provided by the British Phonographic Industry (BPI), detailed later in this chapter under Key Trade Associations. For other sectors, an important component of the report is the field research into the attitudes and buying habits of UK consumers with regard to music, conducted for Key Note by NEMS Market Research specifically for this report. Report Background This is the first edition of a Market Review of the Music Industry published by Key Note. Although coverage is targeted mainly at the UK market, the global aspects of the music industry are given full acknowledgment. In particular, it is recorded music — by far the largest market by value — that has evolved a global structure. Since 2004, it has featured just four `majors owning dozens of famous labels and holding recording contracts (or back catalogues) for the vast majority of the world s top-selling recording artists. The `big four major groups, including the UK s own `home-grown giant, EMI Group PLC, also own rights to publish and to license the majority of successful songs, theme music, etc. These rights are increasingly important as the market moves towards a more fluid, ICT (information and communications technology)Show MoreRelatedMarketing Analysis : Music Industry4034 Words   |  17 PagesTrivedi Case 6: Music Industry CONTENTS EXECUTIVE SUMMARY 1 THE MUSIC INDUSTRY 1 INDUSTRY VALUE CHAIN 1 CONSUMER BEHAVIOR 2 DISTRIBUTION 4 RECORD LABELS 5 ARTISTS 5 TECHNOLOGY DISRUPTION 6 MEM RECORDS 8 MEM RECORDS VALUE CHAIN 8 VALUE PROPOSITION CANVAS 9 MARKET FORCES 10 PORTER’S 5 FORCES 10 ADDITIONAL FORCES AT PLAY 11 RECOMMENDATION 11 THREE HORIZON MODEL 11 HORIZON 1: 12 HORIZON 2: 12 HORIZON 3: 13 VALUE MIGRATION 13 DISRUPTIVE INNOVATION 14 â€Æ' EXECUTIVE SUMMARY The music industry has been undergoingRead MoreBMG entertainment Music Industry SWOT analysis.983 Words   |  4 PagesSWOT Analysis and Recommendation if Music Industry Strengths: *First major record label to create websites branded towards different music genres. 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