Sales Current Events
Sisario, Ben. (2014, September 25). U.S. music sales drop 5%, as habits shift online. New York Times, B3. Accessed 13 October 2014 at http://www.nytimes.com/2014/09/26/business/media/music-sales-drop-5-as-habits-shift-online.html?_r=0.
The music sales landscape is constantly shifting, thereby creating considerable concern among music executives. In the New York Times article by Sisario (2014), the current sales figures for different music formats and outlets provide fuel for the theory that sales revenues are dropping because of music streaming services. Digital sales continue to represent the lion's share of sales, with 68% of the market, but downloads fell from 69% to 60% over the last year. Sales of CDs also fell by a full 19%. Concurrent with this trend was a drop in music sales revenues during the same period, from $3.4 to $3.2 billion.
The good news behind what appears to be an appalling drop in CD and digital download sales in an increase in streaming subscriptions, from 6.1 to 7.8 million over the past year within the U.S. The rating agency, Moody's Investors Service, viewed this change as a good sign for the music industry, because the music streaming industry is overcrowded with competitors. These competitors include major corporations like Apple, Google, YouTube, and Amazon, which have near limitless resources to compete for subscriber to streaming services. Moody's predicted that this intense competition will lead to a better return on the holdings of content owners.
While it makes sense that music industry executives would be concerned about the drop in digital sales, consumers continue to love music as much as ever. The digital revolution continues to evolve, so the manner in which music is consumed would be expected to evolve as well. The music industry executives should be paying more attention to how their kids and grandkids are consuming music, so they can prepare for future changes and trajectories in how music is being consumed, rather than struggling to prop up outdated and unsustainable marketing strategies. The consumer is always right.
New Technologies and Globalisation on the Music Industry The global music industry today is going through a series of disruptive innovations that are changing business models in the short-term and value chains over the long-term. The pervasive influence of the Internet, mobile and streaming technologies, and the shift from CD-based music to digital and online music also signals how quickly the global value chain of the music industry is changing
Sony Music India or SMI, is a solely retained subsidiary of SME, Sony Music Entertainment. The company initiated set-up in India from 1996 to 1997 in order to market both international and national music titles in India. Because of its success and use of state-of-the-art technologies, SMI has become one of the most advanced music companies India. Customers value the added services SMI offers especially if they decide to launch
Marketing Music on Social Media Sites Social media sites like Facebook, Twitter, YouTube and others have grown exponentially over the past few years. One of the entertainment genres that has benefited mightily from social media is music, rap, rock, hip-hop, country, and even classical music. This paper explores and analyzes how musicians and groups have exploited social media in their marketing strategies. Key Reasons Music Marketing Thrives on Social Media Social Media has
Technology Business Processes Technology Mediated Organizational Improvement: Spotify's Marketing Mix The proliferation of the personal computer, the high speed internet connection and the personal listening device have all have a dramatic change on the way that consumers acquire and use music. The inception of digital media and file compression has changed the rules of music acquisition for the artist, the consumer and the retailer alike. For the consumer, the acquisition of music
He doesn't mention Apple's iPod, iPod Touch, and iPad, but those devices also pose a challenge for traditional radio broadcasting. People can "…select music that suits their individual tastes and many have wider repositories of music in their own libraries" -- thanks to the iTunes and similar services -- than are offered on the playlists of radio broadcasters (Picard, p. 1). Moreover, Satellite and Internet radio are offering "hundreds of
Organizational Analysis of Google Google is a high-tech organization with appealing rates of growth beneficial to shareholders. Inherent with its development, Google faces notable challenges. This study will focus on the situation facing the company besides exploring the competition it faces from rival firms in the industry. This study also provides positive and feasible recommendations for the leaders of the organization to consider. Besides the issues facing the company, the outstanding
Our semester plans gives you unlimited, unrestricted access to our entire library of resources —writing tools, guides, example essays, tutorials, class notes, and more.
Get Started Now