Music Business in the Digital Economy Age
https://doi.org/10.21686/2413-2829-2023-113-125
Abstract
This article is devoted to the definition of new trends and managerial patterns in the music business, which are just beginning to develop as a result of the widespread expansion of digital technologies. The state of the music industry before the emergence and development of digital technologies is shown, prerequisites for radical changes are marked, in particular, the emergence of broadband Internet access and digital MP3 format, piracy and streaming technologies (streaming). The article examines the changes and new trends emerging in the music business in the digital era with the development of virtual reality, cancel culture, blockchain technologies, NFT and the sharing economy. The key changes in the overall business model and current management trends forming new determinants of the music business are shown. It is concluded that the world music industry has radically changed its appearance: the music business model itself is changing, and the general model of music information consumption is also being transformed. Music dematerializes and becomes more accessible - business players are constantly fighting for the digital attention of consumers. In general, there is a fragmentation of the music market. The authors raise topical issues that the scientific and practical community has yet to answer.
About the Authors
V. S. Kazarova
Lomonosov Moscow State University
Russian Federation
Russian Federation
Vera S. Kazarova - Analyst at the Network Economics Research Center of the Faculty of Economics
46 building, 1 Leninskie Gory, Moscow, 119991
A. G. Mirakyan
Lomonosov Moscow State University
Russian Federation
Russian Federation
Araksya G. Mirakyan - PhD, Associate Professor of the Department of Organization Management of the Faculty of Economics and the Department of Management of the Lomonosov MSU Business School
46 building, 1 Leninskie Gory, Moscow, 119991
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Review
For citations:
Kazarova V.S., Mirakyan A.G. Music Business in the Digital Economy Age. Vestnik of the Plekhanov Russian University of Economics. 2023;20(5):113-125. (In Russ.) https://doi.org/10.21686/2413-2829-2023-113-125
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