Past, present and future: music economics at the crossroads

Cameron, Samuel

doi:10.1007/s10824-015-9263-4

Cited by 27 publications

(19 citation statements)

References 40 publications

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“…A large number of hits increased the likelihood that a number of songs would be performed more often on radio and television. Cameron (2016) provides an excellent survey of the literature in this special issue on the economics of music research, something that is not repeated here due to space limitations. Among other things, he found that new empirical research in the field of music requires grappling with issues that still trouble the core of mainstream economics-supply and demand-while coming to terms with the shift from physical production (vinyl and CDs) to streaming, social media, and a knowledge-based economy.…”

Section: Introductionmentioning

confidence: 99%

Life cycle effects of technology on revenue in the music recording industry 1973–2017

Pitt¹

2020

SN Bus Econ

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Revenue in the recording music industry is driven by exogenous technology inputs and revisions to the Copyright Act. Each new technology and regulatory change had a financial impact that altered the life cycle patterns in the industry, that in turn led to innovative marketing applications that transformed the production, sale, and distribution of music. The premise that technological change follows exactly the theoretical S-curve in all cases may be misleading and this paper provides an alternative measure. We analyze the life cycle effects of technology on revenue in the music industry using an unbalanced panel instead of a logistic growth model when life cycle curves may be 'irregular' and the mathematical approximation is often difficult. When the error terms are corrected for heteroscedasticity and serial correlation, the model measures the increased marginal effects of digital technologies (physical, downloads, digital subscriptions, streaming, and synchronization) on music industry revenue for the years 1973-2017. This paper adds to the growing literature of advanced econometric modeling, machine learning, and artificial intelligence analysis in the music and creative industries.

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Section: Introductionmentioning

confidence: 99%

Life cycle effects of technology on revenue in the music recording industry 1973–2017

Pitt¹

2020

SN Bus Econ

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“…The records were then manually cleaned by checking the title, abstract and keywords of each record, and, if necessary, referring to the full text of the publication to determine its suitability for inclusion in the review. For example, Cameron () included the keyword ‘crowdfunding’, yet this paper explores the impact of digital technology on the consumption of music. Two papers that meet our selection criteria are also deleted from the data due to inaccessibility from the Web of Science™ website: (1) Ge et al .…”

Section: Methodology: Mapping Fintech In Economics and Finance Researchmentioning

confidence: 99%

Disruption of financial intermediation by FinTech: a review on crowdfunding and blockchain

Cai

2018

Accounting & Finance

233

139

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Based on a systematic review of influential publications among 402 papers published between 2010 and 2018, this paper identifies gaps in Economics and Finance research regarding two applications of FinTech: crowdfunding and blockchain. Analysing these records shows that (i) current research on FinTech is fragmented with limited theoretical grounding; (ii) crowdfunding and blockchain can be regarded as two innovations that may disrupt traditional financial intermediation but in different ways; (iii) crowdfunding platforms substitute for traditional financial intermediaries and serve as a new intermediary, without eliminating the need for intermediation; (iv) similar to crowdfunding, blockchain also creates new intermediaries; and (v) the trust element inherent in blockchain enables blockchain to eliminate the need for intermediaries in some financial areas but not all.

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“…As the 2015 Mastering of a Music City report (Table 2), which examines twenty-seven “recognized music cities,” suggests, “a music city” is defined as an urban area with a “vibrant music economy” (Terrill, Hogarth, Clement, & Francis, 2015, p. 5). There has been a significant amount of published academic work by economists about the cost associated with the music industry such as concert tickets, production costs, and digital downloads and streaming (Cameron, 2016). However, Algorithm A, based on four key variables (financial revenue, employment, audience participation, and the number of music venues), remains the denominator to define music cities.…”

Section: Algorithms To Assess Music Citiesmentioning

confidence: 99%

Algorithms to Assess Music Cities

Baker

2017

Sage Open

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The global Mastering of a Music City report in 2015 notes that the concept of music cities has penetrated the global political vernacular because it delivers "significant economic, employment, cultural and social benefits." This article highlights that no empirical study has combined all these values and offers a relevant and comprehensive definition of a music city. Drawing on industry research, 1 the article assesses how mathematical flowcharts, such as Algorithm A (Economics), Algorithm B (Four T's creative index), and Algorithm C (Heritage), have contributed to the definition of a music city. Taking Melbourne as a case study, it illustrates how Algorithms A and B are used as disputed evidence about whether the city is touted as Australia's music capital. The article connects the three algorithms to an academic framework from musicology, urban studies, cultural economics, and sociology, and proposes a benchmark Algorithm D (Music Cities definition), which offers a more holistic assessment of music activity in any urban context. The article concludes by arguing that Algorithm D offers a much-needed definition of what comprises a music city because it builds on the popular political economy focus and includes the social importance of space and cultural practices.

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Past, present and future: music economics at the crossroads

Cited by 27 publications

References 40 publications

Life cycle effects of technology on revenue in the music recording industry 1973–2017

Life cycle effects of technology on revenue in the music recording industry 1973–2017

Disruption of financial intermediation by FinTech: a review on crowdfunding and blockchain

Algorithms to Assess Music Cities

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