Publication Date:
2014-06-07
Description:
This paper presents a new perspective on the music industry in order to identify new revenue sources. The musicians' needs pyramid takes centre stage and serves as a tool to relate activities and goals of artists, musicians, and performers in the music industry. Dependent on the level of development and professionalism of artists, there are several important needs along the pyramid that require a set of assets and cooperative arrangements – a survey of 247 artists shows that performing, creating and recording are the key activities perceived by musicians. The major firms in the industry have not taken a systematic approach to more broadly address these activities. Nevertheless, competencies of big music companies constitute a good starting point to supply the upstream music market. However, they need to be enhanced and strengthened to take full advantage of these opportunities.
Print ISSN:
0025-3863
Electronic ISSN:
1867-8882
Topics:
Economics
