Strategic Management in Music essays

Strategic Management in Music essays The music industry has seen more rapid and extreme changes than any of the other consumer media in the world. This is true in a variety of respects, the most significant of which include commercial and technological change. These two areas of change have worked concomitantly since the rise of Rock and Roll in the 1950s to transform the music industry to the various forms it has evolved into today. This has a significant impact on companies such as Arista Records, which has, in comparison with other companies, worked with its artists in a very traditional way. While this has been successful in the past, the future of Arista Records is to a large degree dependent on how it can integrate its proven, traditional values, with the rapidly changing world of technology and music. In addition to the rapid increase of consumer spending on music since 1984, the increased demand for music in the comfort of the home also resulted in rapid technological improvements to music. The long play record was for example replaced by the much higher-quality CD, and later developments such as the MP3 player and memory stick made music even more portable not only to the home, but to the workplace, the vehicle sound system, and basically any location with a radio outlet. The most recent development in the music industry is the Internet. Concomitantly with an increase in music sales, this also resulted in an increase in music-related crimes such as piracy. Many Internet locations for example offer free downloads of music that have not been authorized by artists or record companies. Controlling these cases is at best a challenge to the music industry. Such rapid technological change and the increase of ease in which music can be purchased, has also necessitated a change in the business structure of the music industry. Large entertainment conglomerates sprang up to begin taking over the entertainment and music industry. In addition to music, all ...