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E-Sonic Future Paper

441 Words2 Pages

The Long-Term Prospect for E-Sonic as a successful Future in meeting customers need with the implementation of an online music store. According to the US entertainment and media outlook provided by Price Waterhouse Cooper (PWC) between the years of 2016-2020 the music industry will be on a rise and with this happening this will be beneficial for E-Sonic future in implementing the online store. While the music industry is on a rise, E-Sonic will have to ensure that the cost for music remains affordable for current customers and attract future customers. According to, PWC live music will thrive by 4.7% in the year 2020 with total live music revenue being $11.7 billion. Also, by 2015-2020 digital music streaming will dominate with streaming being …show more content…

According to Martocchio (2013) E-Sonic executives have a lot of experience in the recording system and relationships with the major record labels that will give them the advantage in the new market venture, seeing that they were once a top performer in the music industry. Nevertheless, E-Sonic was once a top performer in the music organization with physical copies of CDs offered to their customers, which they are now undergoing a new business model in creating online music. Therefore, with CD sales are becoming insignificant, the live nation of digital music will be the big shift in the market. According to Music Business World Wide article, an analyst calculated a value of US $11.34bn for the global music publishing market in December 10th, 2014. However, with these figures E-Sonic can benefit from the digital market once they continue to hold on to their customers and their employees that allow the business to be successful. Music streaming is on the rise in the recent IFIP report “Recording Industry in Numbers 2014”. IFIP CEO Moore (2015) stated that, streaming is a vital aspect of the modern music

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