Understanding the Music Business: What is Music Worth?

He currently works as SVP, Marketing at Flymachine, a music-tech startup focused on the evolution of livestreaming. This section has discussed the emergence of access-based music services and the challenges they have encountered as they try to enter the digital music economy. The next section takes this discussion one step smart pressed juice cleanse forward by reflecting on how these services change the audiences’ relationships with music. The section argues that access-based music is merely a transitional phase in the evolution of a new music economy and points at indications of how the industry increases its reliance on so-called context-based features and services.

The live music industry has had to adapt amid public safety concerns brought on by a global pandemic. Music fans can now attend massive virtual shows from the comfort of their living rooms – presenting artists, producers and promoters with a new set of challenges in navigating and monetizing these experiences. Jason Feinberg is a music fanatic, marketing executive, software engineer, and maniacal vinyl collector. He has spent his career leading music and technology marketing teams big and small. Early days at independent record labels such as Nitro, Concord and Epitaph taught him how to market; executive roles at Pandora and Universal Music Group taught him how to lead.

After piracy and unbundling drove 15 years of revenue decline, the global industry has returned to growth, primarily due to streaming. But at the end of last year, the music business was worth half of what it was ten years ago and the decline doesn’t look like it will be slowing anytime soon. […] Total revenue from U.S. music sales and licensing plunged to $6.3 billion in 2009, according to Forrester Research. Artists such as singers and musicians may hire several people from other fields to assist them with their career. The artist manager oversees all aspects of an artist’s career in exchange for a percentage of the artist’s income. An entertainment lawyer assists them with the details of their contracts with record companies and other deals.

Other musical artists and producers go way beyond the traditional format of the song and create mobile applications that allow the users to play with music in different ways. London-based RjDj and San Francisco-based Smule are two examples of organizations that have developed such applications that challenge the boundaries between music and interactive videogames. These tendencies raise fundamental questions about the definitions of the music industry and music organizations.

She currently advises Austin based non-profit, Black Fret and sits on the board of directors for the international non-profit Music Policy Forum where she provides leadership for it’s national Reopen Every Venue Safely cohort. The AFM is a trade union that represents professional U.S. and Canadian musicians in collective bargaining and contract negotiations in all aspects of the entertainment industry. Management accounting provides financial information for an organization’s internal management in order to inform decision-making and improve performance. With an advanced degree in management accounting, you could begin or accelerate your path to higher-level accounting roles in your industry. Whether it’s managing finances, negotiating contracts, booking events or reviewing publishing agreements, it’s not enough to have talent.

The objective behind is to acclaim success and money while entertaining the fans worldwide. UMG is engaged in the business of music recording, music publication, music physical distributions, licensed online distributions and distributions through cellular, cable and network satellites . Dave Lester has been in the live event industry as an audio engineer for 30+ years, over 24 of which have been with ShowCo and CLAIR Global. He has spent many years as a System Engineer/Audio Engineer controlling concert sound systems.

Record sales was undoubtedly the most important revenue stream and record labels generally considered concert tours as a way to promote a studio album, and were not really concerned whether the tour was profitable or not. Sometimes the record label even paidtour support, which would enable bands to go on tour and promote the album even though the actual tour was running with a loss. While music licensing is the most profitable music industry sector, live music has developed into the largest music sector. There is a fairly straightforward explanation why live music has experienced a surge during the past 15 years. A musical band that is in demand can grow their revenues from live music by increasing the number of concerts and raising the ticket prices.

Artists may record in a home studio using a high-end laptop and a digital recording program such as Pro Tools or use Kickstarter to raise money for an expensive studio recording session without involving a record company. Artists may choose to exclusively promote and market themselves using only free online video sharing services such as YouTube or using social media websites, bypassing traditional promotion and marketing by a record company. In the 2000s, consumer electronics and computer companies such as Apple Computer have become digital music retailers.

Carma is responsible for strategically building, executing, and maintaining our student and alumni programs, oversees the creation/implementation of communication and marketing materials for the school, and has financial responsibility for the Academy. Carma also oversees the management and operations of recruitment, admissions, enrollment and orientation services at The Blackbird Academy. As with any business degree, you have options when it comes to pursuing a music business degree online, including specialized music business schools. An innovative, high-quality music business degree, our MBA in Music Business is one of the most affordable MBAs in the nation – and can be completed in about a year as a full-time student. New production technologies, distribution methods and economic realities are creating new opportunities and challenging entrepreneurs who want to shape the industry.