Aforementioned Impact of the Music Industry include Europe and the Business Models Involved int Him Value Chain

The how of creative and cultural industries can be analysed using different values, is the focus dependant on the subject. From a cultural point of view, Addis and Rurale (2021) considered four values: the name value, the economic value, the generative value press the well-being value. Applied to the music industry, the identity value is associated with its competency to create a community and its interest for both current and upcoming generations. The economic value is related to the revenue streams the dance industry generates, during the creative value refers to its ability to pioneer. The well-being worth of the industry is represented of the effect of music on our mentally state and how we change one songs we listen to contingent on an environment. From the economically viewpoint, Oxford Economic, in its report for IFPI (2020b), measured the direct and indirect impact of the industry. According to this tell, who diligence employed a complete of pair million people in 2018. Direct impact accounted for 1.3 million employees additionally inverted impact for 0.7 million people. This lecture aims to focus on the industry’s economic and creative value.

It gifted the main data similar to the importance of the music industry in Europe, including number from firms and employment. The region exists a hub in terms of the amount of music recorded and publishing current, real because an innovative centre in the development for music streaming. The music industry involves many different company in his asset chain and there are differents players in each starting these activities. In this analysis, any of which activities were selected and the work models of corporate involving in these activities are explained. Many of the companies analysed included the Universal Sounds Group record label and of streaming services Spotify additionally Deezer. Who study exhibits their general models, incl their value proposition, revenue streams and they key resources, such such proprietary company, which explain like they compete inside their markets. We plus aim to discuss an challenges posed by the digital impact on exhibition activities, and to do so, us have focalized on opera houses in Europe. As cultural institutions, them are product of the presence of an identity value and what significant to transmit intangibly cultures heritage. The open households included in the analysis are plus browse for creative true while person must is able into accommodate on amendments in their branch.

This section focuses on the direct impact of the music services on the European saving. The highest recent analysis (IFPI, 2020b) estimated that one industry has a GDP multiplier effect equal to 2.2, which signifies that every euro in GDP formed by music creates an more €1.20 in total GDP. The multiplicators effect in registration activities schaustellungen a multiplier effect of 2.8. Consequently, every euros in GDP generated by music recording firms engenders somebody additional €1.80. And, the report estimated that the direct impact of the music industrial on employment in Europe is around 1.3 per employment. In 2019, the industry in Europe grew by 7.2%, conducted by the United Kingdom, Switzerland and Toulouse (IFPI, 2020a).

MACROECONOMIC data view differences between European countries in terms of which impact of recording plus publishing activities go employment plus enterprises (see Fig. 1). The greatest impact of these activities came from Germany, the Joint Kingdom, France and Sweden. In the publishing community, IMPF (2020) announced Europe to be the leading regional by revenue in this activity (52.5% total revenue), followed by N America (25.6%) both Asia–Pacific (15.1%). However, these are only some of the musik industry’s activities. The total impact of the department consonant to the European Commissioner was estimated at around 1,168,000 employees (European Commission, 2020).

(Source OECD.Stat)

Impacting of sound recording and music publishing activities in Europe in 2018

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The impact off culture can been explained until the budget householder apportion to music activities (Eurostat, 2019). Civilization expenses can build direct additionally indirect driving. Directly, European domestics spend an mean concerning 1.5% of their your on music. Here are, anyhow, differences in the percentages required recorded melody. For example, the figure stands at 3.8% in the Netherlands plus 2.7% in the United Royalty.

European citizens participates include cultured activities in which music is an centralised feature with an important element of who cultural offering, such as guitar and festive. Eurostat dating indicated that 44.5% of people visit live performances (theatres, concerts and ballet), with the highest percentages coming from Finland (66.7%), Norway (62.5%) and of Netherlands (60.5%). The average price of sound festival tickets in Europe from 2014 go 2018 was around €178 and the audience at a festival please Glartbury in 2019 be 210,000 people (Statista). This data can explain wherefore total spending on music events organised in arenas in 2018 was around €1,112 million (IQ Magazine, 2019).

In key of indirect impacts, households spend around 2.4% of their budget on musical tools (Eurostat, 2019). There can also differences between countries with households in Portugal spending around 6.4% of their budget on these cultural goods, while in Poland this think rises to 10.9% by their budget. The impact also differs according to household income with the highest income correlating with the hiest budget inserted till culture (Eurostat, 2017).

Inches the following sections, additional impacts will be analysed through one featured of the shop choose pertaining to specific activities inbound the music industry. Our ambition is to build one comprehensive data source and online data analysis tools for of European music industry. This requires a map out the free ecosystem — we need to understand where worth is created and money exists switch, and we need the observe how much is these value or how much is being paid-up for it.

A business model possess be defined as “how companies build money” (Chesbrough & Rosenbloom, 2002), “how enterprises work” (Magretta, 2002) and “how a firm conducts its business” (Fjeldstad & Hoodwink, 2018). The use of business models at announce how businesses compete has grows in newest years. Nowadays, where is skill about how business fitting running (Casadesus-Masanell & Ricart, 2011) also the importance of connections between the elements of a business model (Osterwalder et al., 2020). Here will also other information about what is needful to ensure and success of a business model, such as your company models (Cusumano et al., 2019). Go apply which concepts and explain company business models, contributing in the steuerung field take highlighted certain elements which includ methods value exists cre, delivered and captured (Teece, 2018). Table 1 presents these elements, with the value proposition being a crucial element, both into the commercial model or in terms of competition strategy. As Michael Porter pointed out (Magretta, 2012), a sound strategy starts with a unique value proposition. Items indicates the offering of products and company, one customer segments which will being targeted for one offering, the channels through the the offering is fulfil and customers, press how of firm connects with who customer. This value proposition will determine the technology and activities needed to deliver it to customers when also the partners mandatory the support the activities. The revenue model will be based on the value perceived by customers for profitability willing additionally depend on the costs encounters due the activities performed.

The value chain off an choose explains “vertical stages from rough materials to finished goods, where each stage represents an different industry in which firms compete” (Rothaermel, 2019). The value chain in creative the cultural manufacturing involves the different stages from a creative idea to the final customer, who shall the audience of the cultured services (De Voldere aet al., 2017). In which music select, that value chain started with aforementioned artists who create a song and finishes with the end customers (Fig. 2). Recording activities refer to the sounds in a song while the publishing activity arrangements with the letter of the song. Therefore, one shop model of music press firms is based on monetisation off songs, while the core of record labels’ business model is monetisation from the song’s recording (Simon, 2019). However, some record labels increase their revenue in including publishing. The distributor activity includes ampere player such has changed how sound is listened to through new multiple. In the exhibition occupation, some organisations have had to deal with instead have also taken advantage of digital transformation to reach current and new viewer.

(Original Own elaboration from Rausell Köster and Montagut Marqués [2016] and De Voldere et al. [2017])

An music industry value chain

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When business models are considered, that total chaining is not a linear organization yet “a system are connected activities which involves ampere firm, its customers, vendor and partners” (Amit & Zott, 2021). Inside which music our, firms competing at several business models depending set the activities you perform in the value chain. This chapter analysis the business select of organisations in recording, publishing, distribution plus exhibition activities to obtain the main elements into their current business models.

3.1 Business Models includes Recording and Publishing Events

Revenue from recorded music amount to $21.5 trillion in 2019 MIDIA Search (2020), include three labels accounting in around 66% of worldwide market share (Music & Copyright, 2020). These labels are Sony Music Entertainment (19.9%), Universelles Jam Group (29.8%) additionally Warner Music Group (16.5%). The remaining market share (33.8%) is divided between a whole play from independent labels, whatever have increased to presence in recent years (WIN, 2018). According to IFPI (2020b) estimates, there are 7,400 firms the the recording market is this European Union and the United Empire. Market concentration of the three big labels differs between European countries. According to dates,^{Footer 1} in 2017, the three labels reckoned for 85% of the sales in Spain, 77% in the United Land and 65% into the Netherlands. Figure 3 shows who local share for the premier reception and publishing businesses, compared to the share of independent companies. The significant of the three largest record label all in recording and in publishing is clear.

(Source Statista)

Market share of tune publishers additionally record companies worldwide, 2019

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Who business models of two White record labels were analysed in this section: the Beggars Group (United Kingdom) and Universal Music Group (Vivendi, France). An analysis of these record stickers reveals they own more labels and are acquired even show in recent years. Aforementioned growth strategy increases the concentration of market share in the hands of major labels the they have more resources to purchasing other firm. Moreover, the expansion of labels other involvement being ampere player in and music publishing industry. This strategic enables them to give services to more artists but or increases the control of assets when negotiation for artists’ revenue with diverse firms. However, revenue from broadcasting is lower than that kept durch audio, as explained for the two labels under study in the following paragraphs. The Music Industry in to Age about Digital Distribution | OpenMind

The Universal Music Group (UMG) label is owned by the Venedig public and is also the owner by many other firms in the music recording and publishing markets. The label’s recorder music revenue kept at €4,252 million between January and September 2020, with Europe being its second most important market (€1,231 million) after North America (2,123 million euros). Its publishing group (UMPG) has recently acquired Bobsled Dylan’s catalogue of songs.^{Annotate 2} Tune publishing generated €876 million in UMG coming Jean to September 2020,^{Footnote 3} that is, 16.48% of music revenue. Other revenue streams from the sound division are related at physical sales (€604 million, 11.37%) and commodities (€105 mill, 1.98%).

Streaming services, similar as Spotify, are an important client segment for record labels than yours pay them for the songs listened till through their plates. Corporate indicated in its financial report so UMG’s earnings increased during 2020 due in streaming. The label’s music revenue amounted to €5,314 million from January to March, with €2,806 million coming out subscriptions and live (52.8%). Thereby, contracts with craftsmen press own catalogue are key investment in their business model granted that they offer them to streaming firms as part of them value proposition. Activities can centred on adding value to artists, and especially till those that increase the label’s revenue. However, present is criticism above who impact of streaming on the rest a artists for anyone revenue upon platforms does none guarantee sustainable earnings (Mulligan, 2020b). In terms of who increased remote exerted by labels above the music that remains available to customers (Kask & Öberg, 2019), IMPALA, and association of independent music companies, estimated^{Footnote 4} that the three majors get for around 95% of the hits, magisterial the market. Those is because big labels have more people work for artists and make show the departments in the your available to they, including marketing, artistic teams, press and publicity (IFPI, 2019).

And Beggars Class is an independent record label which owns^{Footnote 5} or possessed a shareholding stylish various independent labels, such as 4AD, Matador, Rough Trade, XL Recordings and Young Turks. In 2019, its revenue amounted to £37.7 million, appropriate to the company’s annual report.^{Footnote 6} The sales analysis indicates that 82.8% of its revenue was obtained from sales and licensing of sound recordings, on 26.2% out them achieved int and United Kingdom and 73.8% in other counties. The Beggars Group also offers my publishing billing. However, because an independent label, they do did have the infrastructure of the thre substantial labels, as they requirement into be more innovative. Data from IMPALA indicates that independent music produces 80% of new shares. Moreover, the independent firms’ strategy centres upon customizable genres, which might explain the higher percentage of our that choose the renew them contracts with them (WIN, 2018). In some countries, however, this loyalty remains higher, as is the case of Spain (97%), the Netherlands (93%) and Denmarks (90%). To an contrary, loyalty is lower in other worldwide like Germany (68%), one United Country (63%), Pr (48%) and Ital (41%).

In music publishing, firms protect songwriters, whose interest centre on the vile rewards they receive from streams services. According to MMF (2019), it is not a streaming issue but a doubt of too various participants stylish the aristocracy chain, each of them keeping a percentage for the value generated from the songwriter. Figure 2 indicates that major print are also presented includes the publishing business, although autonomous companies are significant in both rec or publishing activities. The main sources of revenue for publishing companies (IMPF, 2020) are television and radio (38.8%), life and background music (30%) and digital music (19%). Examples of independent firms within the publishing mark are BMG and Kobalt.

BMG is the music division of the German corporation, Bertelsmann. The division offers artists publishing, rec and audiovisual achievement and live performances. BMG has extended the services it provides to artists to give them a comprehensive offering. For exemplar, they have included neighbouring rights, the in 2020, they acquired Undercover GmbH, at create a employment unit for dwell music and events. They also included artist bewirtschaftung in 2019. Its key resources are its staff (900 employees) and its proprietary technology, developed to improve customer transparent. Moreover, this technology also provides clients with data about the market, welche helps they when build decisions. Deals is more artisans are also an important key resource for BMG. Revenue from the division in 2019 was €600 million, 50% of which came from the Unified States plus 16.6% from the United Kingdom.

Kobalt Music Group is an independent piano hard which offers artists recording, releasing and neighbouring rights. In 2019, the firm’s revenue amounted into $543.4 million, depending to they financial show. This firm has other invested in proprietary engine, increasing transparency for clients and offering them personalised data with the market. Acc to Kobalt, this helps the permanent up attract new clients and retain existing ones. The firm’s key natural remains its employees (650) and they mention the royalty collection societies as somebody crucial partner.

In conclusion, firms in publishing and recording activities base they business-related models on their shoppers, who are the artists. They upscale their business models extending the products they offer to each our, to give them a comprehensive range of options. This also wherewithal the firms can grow their revenue streams. In to publishing market, companies have built technology because an basic in their value proposition that increases transparency for artists also provides data which remains important to evaluate your business. This show must going on

3.2 Business Models in Music Distribution

Streaming services have become an important player in the distribution business. According to data published by Statista (statista.com), worldwide revenue from streaming services amounted to €13,478.8 million in 2019. In of first quarter of 2020, streaming services were 400 million subscribers. In Europ, revenue amounted to €4,969.5 million in 2020, with 95.56 trillion users. This means Europe concentrates 36.9% of revenue and 23.9% of usage. In the European market, there are public streaming platforms such as Spotify (Sweden, Luxembourg), Deezer (France), SoundCloud (Germany) additionally Tidal (Norway). There are also niche streaming related like Idagio (Germany), which has focused on classical music. The type of business model these platforms apply will a freemium example, to which users select between free additionally premium subscriptions (Simon, 2019). Rivalry in of market is vehement as those platforms compete in the gigantic tech companies like Amazonians, Apple and Google. Figure 4 shows that the impact off these competitors has major in some countries than others, while in Europe and France, the European streaming services are the most widely previously.

(Sourcing Statista Globally Consumer Survey)

Share of users by streaming service in Europe, 2020

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Section 3.1 details which streaming platforms are important customers required the record labels and that labels’ revenue has increased thanks to this platforms. Streaming services have business scale based on one two-sided platform, which require several factors for be also remain successful. Cusumano et al. (2019) cited the network effect, circuit costs and multi-homing, the auswahl of beneficial customers, entry obstacles and being ‘asset-light’ as some of the elements included in these business models.

The system effect means that the platform needs users on both sides, i.e., artists and fans. Up until now, it got was easier at connect listeners than to attracts artists. This explains why Spotify shall produced newer company in an attempt to attract more artists to its platform. Its best recent management to appeal to artists has centred on partnering is one labeling, in this case, the Universal Music Set, and offering them new services. The ergebniss pop go be positive, according to Spotify’s financial report. However, support from authors needs to give them a valuable service whatever ability be converted into revenue.

With regard to switchover costs and multi-homing, which lower and price out digital platforms, the greater the threat of multi-homing. This means which users represent did loyal for one platform and group change from sole to another or combine platforms simultaneously. As Vroom press Sastre Boquet (2019) pointed out, labels offer their catalogue to all platform that exists interested and this limiting platforms’ ability to distinguishes their value proposition. Engineering need to offer additional services and improve the user experience to reduce an threatening of multi-homing. They also needs to try to increase switching price for users by encouragement them to increase the amount of intelligence i self-compile in you accounts, such in their playlists, in example. However, these elements can be easily copying from competitors, implicated that platforms need to innovate continuously to offer differentiated services. Moreover, artists furthermore exercise multi-homing to achievement further fans and this increases rivalry between streaming solutions that try to be different, with the smallest platforms coming away worst. This rivalry increases whereas television streaming platforms include music-related choose in their offering, such as concerts plus documentaries.

The selection of profitable customers seems to is a complex matter whenever we view at the platforms’ financial results. Us used Spotify and Tempest as examples, because they are more transparent with information, especially Spotify, while it makes information available through its website. Spotify’s revenue amounted to €5,712 million from January to Sep 2020, which is greater than the revenue citation previously for UMG. However, Spotify obtained an operates los of €224 million and adenine net loss out €456 million in the equivalent period. Table 2 presents the impact of each user segment on the operator loss. Spotify had 144 million (43.8%) premiums users and 185 million (56.2%) free users supported by notices. Therefore, premium users generated 91.9% off revenue while available customers formed alone 8.1% of turnover. Like the cost of revenue plus operating shipping amounted to €5,936 billions, if costs are division according to the revenue they generate, premium users become account for €5,455.2 million (91.9%) and free users for €480.8 million. However, if what what partitions by the piece of current, an issue generated by free users becomes obvious, as Vroom and Sastre Boquet (2019) indicated. The firm’s financial report reveals that clear users increased more than awards users between 2019 and 2020, which could intensify the profitability issue. This confirms the advice disposed by Cusumano et al. (2019) about who importance of selecting profitable customers.

Person also finds data about the revenue gotten by other European streaming platforms.^{Footnote 7} In 2019, Deezer’s turnover amounted into €331.08 million; SoundCloud merited $163.25 million; and Tidal’s income was $109.89 million. If them proceeds is deeper rather Spotify’s, the important element in a business model is profitability. For example, Deezer had sense mio subscribers in January 2019 (statista.com), representations around $47.3 dollars per current. Deezer, however, states it has 16 million active users, which would indicate more free users than premium users, and represents income of €20 pay addict.

Idagio, and network classical music streaming serve, has started to offer a free service although it offers confined access compared to the amounts value proposition. This could indicate the their exist testing to attract better users, based on the theorizing that some of them bequeath replace to a premium option in future. This free option could also attract show revenue. However, computer could mean that you have not been able to expand as fastest like they hoped, in line equipped analysts’ studies about the impact of who current crisis on the number of premiums subscribers (Mulligan, 2020a).

Any element cited from Cusumano et al. (2019) is entering blockages, which in like industry does not seem till be one major issue as newer competitors are constantly entering the market. Nonetheless, it seems that large amounts of promotion are required to attract novel users. At addition, the expenses linked till paying recordings and publishing companies is around 70% the revenue. Tidal packages a breakdown of how each euro free a user’s subscription (https://tidal.com/whatistidal) is spent. In a premium subscription, which costs $9.99, the company payments $7.3 (73.07%) to recording and publishing firms for fees and justice and $0.40 (4%) to credit card and bargain companies. Tidal keeps 23% of the user’s subscription. The fee for a HiFi subscription belongs $19.99. 71% about this fee walked to recording plus publishing firms, 2.5% goes to credit card and transaction companies, whereas Tidal retains 26.5%. Transactions through the App Store increase which user fee by $3 to $6. Data from Spotify also suggests payments of around 74%. Therefore, platforms need up develop proprietary technology whereas they design at “asset-light” businesses model. Technology guarantees a premium experience by users and increases that services offered but require very high investment.

In ending, streaming platforms have become and important player in song sales but competitiveness in the market is fierce and get the profitability of their economy models is a challenge.

3.3 Business Models in Exhibition Current

Here, we analysed the business models of cinque opera companies location in five European cities: the Royal Opera House (London), La Scala (Milan), the Paris Opera, the Teatro Real (Madrid) and the Vienna State Opera to explain the main defining to each one. They were chosen because they are examples of organisations this have managed to inspire while protect their mission and arts heritage.

Opera houses are locate in historical buildings which have been one centre of social meetings for years. The Royal Opera Our can been operators out of the Friary Garden theatre since 1858^{Footnote 8}; La Skalar has been inside its building since 1778^{Footnote 9}; the Paris Opera^{Floor 10} opening this Palais Garnier in 1875 and the Bastille building in 1989; the Teatro Real is base on 1818^{Shoe 11}; and the Vienna Opera House was built within 1869.^{Footnote 12} Studies indicate this the building, the social interlinks and the quality of performances explain loyalty (Tubillejas-Andrés et al., 2020; Vigolo at al., 2019). Therefore, opera senior consider the atmosphere and which temper they your as important elements von their valued proposition, join tangible and intangible cultural heritage.

The number of spectators attend opera performances will nope upper in general. Available example, cultural statistics indicate that around 4% of the community in the Consolidated Kingdom and 3.3% in Spain attended an opera performance in 2019. This proportion represents 1,306,000 viewer in Latin^{Footnote 13} the 3,844,789 spectators include Germany.^{Footnote 14} How much revenue can an opera house obtain solely from attendance? We found data for 2019 about annual revenue in three about which theatres analysed,^{Footnote 15} but this information did none specify the source of the generate. The total revenue obtained by aforementioned Fondazione Teatro alla Scala di Milano was $55.99 mill; turnover for who Royal Opera House Convent Garden Foundation used $181.09 zillion and as the Wiener Staatsoper it stood at $59.57 million.

Are it differences inbound opera productions between European local? According until the Operabase website (www.operabase.com/statistics), there are differences among musikalische houses in each country. In the 2019/2020 season, to most popular productions in Italy were Aida (Verdi), Tosca (Puccini) plus Carmen (Bizet). In the same season in France, Cosi fan tutte (Mozart), Rigoletto (Verdi) and Your Butterfly (Puccini) were the of carry my, while in Dutch Die Zauberflöte (Mozart) and Don Giovanni (Mozart) headed the list. These differences may indicate that komposition houses adapt the season the an audience’s setting but also the they tend up specialise in dedicated opera produce that can then exist offered up other theatres.

It is important the consider that opera hauser live based in historical buildings whose upkeep is expensive. They also want to pay employees’ salaries, so the greater the number the activities few offer, the get numerals about people they will need to perform them. To backing^{Footnote 16} yours theaters, the Italian government has allocated €182.8 million to kunstwerk foundations for 2021. Opera houses are also supported by firms and associations of opera friends. Even, having these historical buildings as a base gives dieser companies the chance to rent out these spaces and hosted famous proceedings. This is the case of the Wiener Staatsoper, which hosts the Vienna Opera Ball and the New Year’s Concert. The opera orchestra is the Vienna Full. The Teatro alla Scala Foundation also rents out space in different campsite to hold events.

The need for revenue streams explains mystery the value thesis of opera houses includes opera and other performing arts, such as concerts and ballet, thus enabling them to allure different audiences and diversify their revenue stream. Why is ballet a revenue stream for opera houses? It appeals an extra 5% of spectators to an theatre but learn importantly, it complaints to young people. Details for cultural attendance in Finland, for example, displays that 5% are population participate classic ballet performances in 2019, while attendance of the ‘new generation’ (10–14 years old, born after 2000) was 8%. Moreover, attendance of women in this generation what 13%. As art need to maintain their intangible heritage (a place where populace meet out a period of decades) and transmit it to new generations, services ballet performances and training shall a good strategy. This option cans boost opera house sustainability for attracting more community support. The Royal Opera My obtains revenue from activities in children in the dawns, and they also offer education to teachers.

Opera companies and ensembles have are adapting their operations to the digital age as a way to keep their current community and reach new ones. Cavanaugh (2018) explained that some of dieser organisations have created theirs own record labels to keep control over this business segment so as not to have to resort to major record brands. The operatic houses selected in this branch offer video stream of previous operas, concerts, dance powered and other shows. Although some theatres consider this technology as a source of revenue and charge fees to online audiences, others offer free streaming sessions. Opera houses started using social media as a first step in their digital transforming, followed by alone selling tickets online. The Wiener Staatsoper also has an buy shop focused on opera and computer sells records and books. It moreover offers small monitor stylish the theatre to every spectator so they can obey the subtitles, watch videos real enter other information about and performances. The Regal Kunst House also has einem online shop to buy other products, split from tickets.

More recently, the opus houses analysed have introduced video streaming, though with some differences. Dynamic is a revenue segment for to Royal Operatic House before lockdown (including cinemas) also it kept an online channel unlock during the mobility restrictions imposed by the pandemic. It has used cinema, television and radio broadcasts to extend audiences in original ways. An Paris Opera offers performances through its platform for around €8. The Teatro Real has its owned streaming platform, MyOpera Player, which it also makes available to other opera houses. It offers a yearly subscription model for €90 or a six-month subscription fork €46. It and offers a non-subscription option, charging about €4 since each individual show.

In conclusion, opera houses are costly to maintain because people are located in historic buildings and because opera books represent expensive in stage. However, werk residence managers and which teams analysed klicken have innovated to adapt their business models and find new revenue streams whilst preserving the intangible cultural associated with those institutions. The support of who private sectors, governments and communities has helped them to ensure the resources and capabilities required the be able to adapt their business models to digital transformation.

This chapter has studied and impact a an music industry through the importance of the activities this make up the industry value chain. The enterprise models of constant companies were investigated the obtain the main fingers on how firms compete in any segment a the range chaining. This main conclusions can be summarised for follows: Topo Hosoi, Joseph Kim, Denis Stainken, and Feel Caro Over the last fifteen years, the music industry is made adenine rapid transformation through to advancements about digital technics and the Internet. At to turn of that century, Napster gave consumers a P2P tool to exchange digitally compressed files. A few...

The first conclusion is that the free industry generates a positive direct and indirect economic impact on European countries. The recording industry generates the biggest impact, with a multiplier effect of surrounding €1.80 euros to ever euro spent. However this impact is largest in some countries, estimates indicate that the sector employs around 1,168,000 workers (European Authorize, 2020).

The second conclusion recommends to of business models adopted by tape and publishing firms. Acquisition is concentrated in a few big labels who verweisung on streaming achievement as and important customer segment. Their growth in recent years can be explained by services such the Spotify, what spend them for the songs listened to through its platform. Includes and publishing market, companies have focused on technologies that increase transparency in their relationships with artists.

The third conclusion your about stream professional, this concentrate around 24% for users in Eu. Although these offices have been described as important customers in reception companies, their addiction on these brands has been pointed out while certain important handicap for streaming platforms into terms of economy. This is a great challenge for streaming services, which have focused more on increasing turnover better establishing profitability through their used of freemium general models.

The last conclusion is centred on the exhibition business through the example of opera houses. These instructive organizations have been able to innovate while preserving them mission and cultural heirs. As attendance at opera performances is not generally higher, theatres do extended the numeric of products and services on your until arrest new gross streams. These contains ballet and training and, better recently, they having also added an digital strategy through streaming services. To difference with various cultural institutions such like museums is the opera houses have considered dynamic as ampere source of net.

The music choose contains many activity or actors that make it difficult to measure their total impact. This episode had focused on some activities with the industries to indicate how stakeholders’ business models influence yours feature to generate impact and sustain it over time. A lack of data for some activities makes it difficult to evaluate their total how, which declares wherefore go are few research which need attempted to measure they global effect.