Topics: Music industry, Record label, EMI Pages: 49 (14785 words) Published: December 1, 2014

Table of Contents
1. Introduction:2
1.1 Background2
1.2 Cyber Communities, Collective Intelligence and Media Convergence – Overall Research Objectives:3 2. Literature Review:8
2.1. Mp3, Napster and File-Sharing Culture9
2.2. Commercial Development and Convergent Media:15
2.3 New Concepts of Consumption and Hypotheses23
3. Research Methodology25
3.1 Background and the Gap in the Research25
3.2 Research Strategies and Methodology26
3.2 Questionnaire Design and Question Rationales31
3.3 Data Collection and Sampling33
4. Findings and Analysis34
4.1 Limitations of the Research42
5. Conclusion and Implications42
6. References44
7. Appendices 50

1. Introduction:

1.1 Background

Starting with the first peer-to-peer file sharing service Napster, which was found in 1999, music industry’s traditional value chain transformed by the advent of new digital technologies. The traditional value chain followed content creation, publishing, distribution, retail and consumption but with digitisation and the emergence of broadband, smartphones and other new communication technologies the way the music is consumed transformed into an interactive model in which content creation is directly sent to consumers through digital channels or it is the consumer that is creating its own content (Freedman, 2003). Former entertainment business attorney, music industry figure, Bob Lefsetz defines this change of roles as “At first you pay your fans, then they pay you, it’s not other way around anymore” (Richards, 2011). Music business due to their lack of cultural capital and knowledge on new technologies is one of the few industries that had difficulty in success fully applying its business model to digital age (Freedman, 2003). Digital communications and technology companies like Apple Inc. or illegal peer-to-peer file share networks such as Bittorent and Limewire have been providing digital music services since early 2000’s. Record companies and collection societies for the first time since their establishment with the invention of radio lost their hold of power on revenues from purchases of recorded music and the broadcasting recorded music (Meisel & Sullivan, 2002). Although 62% of music is still sold physically and CD, after radio, is still the most preferred source for music consumption, all the multimedia platforms like YouTube, iTunes, Pandora and Smartphones banded together outreach traditional channels (Nielsen, 2012). Sony Music Entertainment, Universal Music Group and Abu Dhabi Media’s joint venture music video service Vevo is the only music industry body led company in the all channels and has a 8% fragment in channels (Nielsen, 2012). With the advances in Internet and digital technologies consumers, keep on boosting and switching traditional media consumption with digital media and this transition offers both opportunities and challenges (Battino et. al., 2011). There are large numbers of academic articles, blog posts and books written on how music business is dealing or should deal with piracy and there are countless suggestions on establishing the next best thing. This article contradistinctively focuses on convergent media’s utilizable effects on music industry. The overall aim of the research is to advance an understanding of the impact of media convergence in the music industry’s promotion and distribution channels in relation to creating new revenue streams. In order to understand the transition in traditional music business model it is felt necessary to gain an insight into the influence of convergent media on consumers/audiences in general as well as the forces driving it and the new revenue opportunities that lie behind. It would be difficult to comprehend how industry bodies ought to meet the challenges and opportunities of convergent...

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