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Literature Review - Coggle Diagram
Literature Review
The rise of live music
- Modern advancements have only exemplified the "winner-take-al" economy
A small number of artists take home the lions share of the income (rockeconomics)
Smaller musicians cannot look to the live music industry to supplement their income (although they may still heavily rely on it whether it is lucrative or not)- “The top 5 percent take home almost 90 percent of all concert revenues.”
Factors contributing to this that effect emerging artists are
Scale, technological changes and luck
Link to live music and streaming
Bigger artists can simply do a few cocnerts in large arenas to profit
technological advances when new are likely to be more expensive and less widely available
Exemplified by globalisation (increased reach and notoriety also could be said that because famous bands can tour to different countires smaller native ones now have more competition than ever), streaming, live performances, social media, etc
Heard mentality and ever changing tastes and ‘trends’ mean that some artists can benefit from making the right kind of music at the right time.
Decline in market value of recorded music- artists turn to concerts to supplement income
Symbosis of live music and tech (streaming and tech)- “parallel paths of sustainable growth”
Bigger musicians can incorporate new tech into their performances, creating ever larger spectacles
Concerts converge with the live -entertainment industry
Social media and streaming allows greater access to live recordings, data collection, sponsorship and advertising
mutually inspiring virtuous cycle
New opportunities for emegring artists
Social media can help increase their reach and their luck factor in being noticed, more exposure for free
Challenges to emerging artists
While concert tickets have increased in price, this is mostly the case for big musicians- more access to new tech, merch teams, and larger venues. Smaller musicians are still left playing in small venues and doing alot of work themsleves for little profit.
Social media can also be negative and spread a inaccurate depiction of a live event
Shift from physical to digital music
Value proposition of physical media
“the recorded album enjoyed a cultural significance in people’s lives that has subsequently declined with digital proliferation and abundance–a fall precipitated by the ever-shrinking size of the iconic album artifact and its disappearance into a smartphone.”
Zhang, Q., & Negus, K. (2021). Stages, Platforms, Streams: The Economies and Industries of Live Music after Digitalization.
Had a collectible appeal (ownership, tangible appeal), can become a curator of your own music, more intimate (physicality). People interacted with music through physicality and prioirtised ownership- art objects in their own right- (Xiaorui Guo, The Evolution of the Music Industry in the Digital Age: From Records to Streaming.)
Emerging artists- could not distribute their own music, hard to interact with audiences and access necessary equipment. However, if they were able to get signed they could profit from physical sales
People were limited to what music they could access and did not listen in a very personalised way.
Limited storage, fragility
Physical sales also declined due to rising popularity of P2P sharing and illegal downloads
Music industry adopted this innovation LATE
Changing relationships to music: Digitalisaiton
Changed how audiences and musicians made, distributed and interacted with music
“it reflects a fundamental change in how music is created, delivered, and experienced. “ (Xiaorui Guo, The Evolution of the Music Industry in the Digital Age: From Records to Streaming.)
Streaming SAVED the recorded music industry- its late adoption of digital tech meant that illegal download and piracy were domiaitng music consumption.
Decrease in market value of recorded music
Profit model of streaming services
"Winnter-takes-all economy"
New opportunities for emerging musicians
Music is cheaper to make and produce
International reach, insights into fanbase, easier to distribute music, create and share music, better access to music creation tech (Garageband?)-
Democratisation of music
Convienence of streaming, more variety at a lower price
Disintermediation
(electronic commerce)
Musicians under big labels did not need to have managerial, technical, legal or production skills like smaller musicians did. Digitalisaiton broke down these barriers to entry- smaller labels did have more creative freedom.
The need for new innovation: While streaming has brought about new opportunities it is still not profitable
Challenges for emerging musicians
The layout of streaming
Algorithmic bias
Continues to popularise already popular music-
Link experiment by Matt Salganik and Duncan Watts
Changes how people listen to music
Highly personalised, algorithmic bias, harder for music to be discovered
Streaming isnt profitable
(Fair artist compensation)
, also ethical issues of ownerhsip
link to AFM recording ban?
Market saturation (more competition than ever for less profit)
Summary of general conversation being had/ questions being asked
The shift from digital to physical media has changed how we interact with music and how we create, produce and distribute it
This offers musicians many new opportunities such as more reach, better insights, easier to create and distribute music
The consumer has shifted from valuing ownership and physicality to personalisaiton and convienence
The mass adoption of streaming services as the mainstream way we listen to music
Brings about questions of fair artist compensation, ethical issues and ownership
Emerging musicians in general have indeed from digitalisation as music has become more democratised- they can access better equipment, share their own music and gain better insights into their auidence and use social media for publicity
HOWEVER, the market value of recorded music declined as streaming services became more popular, so small musicians now have more access but will proift significantly less- turning smaller and bigger artists alike to rely on live performances
Emerging technologies of today