Back in black: rethinking core competencies of the recorded music industry

Holly Tessler

    Research output: Chapter in Book/Report/Conference proceedingChapter

    Abstract

    This chapter looks at key changes within the recorded music industry over the last 20 years. Looking specifically at the implications of (1) key legal rulings and (2) the nature of 360 degree deals, the chapter argues that the recorded music sector has been undergoing a transformational process, rethinking its core competencies and developing strategic partnerships throughout the music and creative industries, moving away from a model based almost exclusively on consumer sales and towards one based on a range of business-to-business partnerships across the creative industries. In this regard, the recorded music sector can be seen as adapting rather than collapsing in the face of industrial upheaval. It has shifted from an industry that sells records to an industry that sells cultural brands, or narratives, often via the medium of recorded music. Strategic alliances with firms within other sectors of the music industries and indeed from across all sectors of the creative industries have enabled record labels (or ‘music companies’) to extend the reach of music across multiple media and across multiple platforms in a way that is not only financially pragmatic but also culturally resonant within contemporary popular culture.
    Original languageEnglish
    Title of host publicationBusiness Innovation and Disruption in the Music Industry
    EditorsPatrik Wikström, Robert DeFillippi
    Place of PublicationCheltenham, UK
    PublisherEdward Elgar Publishing
    Chapter2
    Pages33-52
    Number of pages20
    ISBN (Print)9781783478149
    DOIs
    Publication statusPublished - 29 Jan 2016

    Keywords

    • business and management
    • knowledge management
    • organisational innovation
    • innovation and technology

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