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Business Model Dynamics In The Music Industry: Video Killed The Radio Star - Or How The Internet Altered Business Models In The Music Industry

Link, Karina (2014) Business Model Dynamics In The Music Industry: Video Killed The Radio Star - Or How The Internet Altered Business Models In The Music Industry.

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Abstract:Dynamics in business models are especially recognizable in the context of the fast changing environment of the music industry. Not only is the music industry extremely influenced by innovative technologies like the internet and ICT, but also by changes in legislation and in customer needs. Moreover, marketers in the music industry act within a complex value chain whose various stakeholders must be satisfied. Therefore, this research aims to fill in a gap of the existing literature concerning future business models and influential factors on business model dynamics in the music industry. In order to do so, an extensive literature review as well as a comprehensive analysis of the music industry, including two case studies (Universal Music Group as a classic record label and Spotify Ltd as a new entrant), were conducted. Eventually, the analysis shows that integrated models (with strong elements of the promotion and merchandise model) will most likely dominate the music industry, while path-dependency as well as the social and technical factor of the PESTEL framework seem to have the most impact on business model dynamics.
Item Type:Essay (Bachelor)
Faculty:BMS: Behavioural, Management and Social Sciences
Subject:85 business administration, organizational science
Programme:International Business Administration BSc (50952)
Link to this item:http://purl.utwente.nl/essays/65345
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