ipl-logo

Pestle Analysis Of The Music Industry

2724 Words11 Pages

In this part of the research, macro and micro environmental aspect used to analyze music industry. PESTEL analysis used for macro environmental and Porter five forces for micro environmental. Through PESTEL analysis, it is easy to face with a lot of factors such as Political and Economic in music business. But the most important factor in this kind of analysis is Technology because it is also heavily influencing social factors within the music industry, according to developments in social and mobile networks. Moreover, in micro environment analysis using Porter’s five forces there is opportunity to understand better the customers, competitors, suppliers and all the others which are responsible in the music industry.
PESTEL Analysis
PESTEL(or …show more content…

More specifically, as strengths of a company it may consider the marketing plan, the management and the evolution of technology. The Internet Marketing plays one of the most important roles because using the Internet to market and share music is a way to reach a deal with recording label and earn millions for that. Free online promotion brings money in companies and help musicians and artist to start their career and become popular. Record labels dominate in the music industry and provide the opportunity in artists to make contracts for a lot of …show more content…

Everyone can download from the internet without paying for that. This procedure allows the entertainment of customers without taxes and payments. Therefore, the threat of other entertainment sources are also posing a mid to low level of threat of substitution to music industry in contrast with music.
5) Industry Rivalry(Low level of threat)
In UK music industry, discography has been replaced by digital era. According to RIAA statistics, the blossom of the industry began with the comparison of offline and online sales. With the popularity of digital, music industry focused on new strategies to develop their companies.

From the above analysis it can be understood that the Music industry in UK is flourishing. But it still may be assumed difficult target for a new company. Internet and new technologies are developing every day and decline more and more new entrants in the market. The largest threat to the industry is still the piracy, which is responsible for the loss of millions of an industry. They are available and free, and everyone prefers to find something without paying. Music is remaining as the first form of entertainment around the world and it will be. Porter five forces analysis in this industry allows us to show the strategies that are important for develop the

Show More
Related
534 Words | 3 Pages

The diversification lowered the overall risk of the firm and created an information network among the divisions, which was critical for the company to gain competitive advantage. The loyal customer base was another strength. The $60 billion assets that under the company’s management provided the company a positive brand image and made it easier for the company to attract new customers. Weakness:

Read More
466 Words | 2 Pages

1.3.1 Scalability: Scalability is an issue of the algorithms with massive and real-world datasets. Because the analysis on core techniques progresses and matures, it becomes clear that a basic issue for RSs is to see the way to implant the core recommendation techniques in real operational systems and the way to contend with huge and dynamic sets of knowledge produced by the interactions of users with items. An answer that works fine once tested off-line on comparatively tiny knowledge sets may become inefficient might be or perhaps totally irrelevant on terribly massive datasets. New approaches and large-scale analysis studies are required [9]. 1.3.2 Cold Start: 1.3.2.1 New User Problem:

Read More
97 Words | 1 Pages

According to the reading, consumer’s musical knowledge which includes where and when they were born and raised will all influence the change of Pop Music.

Read More
551 Words | 3 Pages

Nowadays, record labels and artists cannot persuade listeners to ‘buy’ their music. It is believed that the aspect of music has changed due to the popularity of music streaming. Allen (2013) agreed by stating that music streaming has changed the view of people in the industry of music. For example, popular music streaming services such as Spotify and Pandora and a number of new music streaming applications provide the easiest way for listeners to enjoy music freely without having to do illegal downloading or buying a CD. Likewise, Listeners have the ability to choose the music they want to listen.

Read More
308 Words | 2 Pages

Arguments, favors and oppositions Since Napster emerged, music sales in the U.S. have dropped 47 percent(RIAA,n.d.). However, Napster or any other music piracy is not to blame. In fact, music industry in 1980s and 90s was over-inflated(Swanson,2013). Artists receive a percentage of the music sales, and it is mostly between 12 and 14%(if you are a superstar, it can be 20%), after the deductions the retailer, the record company and the songwriter.

Read More
485 Words | 2 Pages

When a person steps onto a college campus, they are surrounded by so many things. Illegal music downloads have become one of the main issues that you will face. Once someone finds a great place to “get free music”, it quickly spreads among the students. Everyone likes free stuff but many times people do not consider the fact that it really is not free. College students love music and when everyone lives so close to each other, it is a lot easier to share the illegal downloads or find them to download your own tracks.

Read More
521 Words | 3 Pages

1980s Music The 1980s was a decade where many things changed drastically. The music industry in the 1980s experienced major changes, mostly due to the political and economic changes, and new trends and inventions. In the 1980s, America changed both economically, and politically.

Read More
525 Words | 3 Pages

Music nowadays is manufactured, over marketed, auto tuned garbage. It seems as though everything is becoming safe and easily digestible- almost like baby food. Now you may say that not all music is bad and yes, that is true. With that being said, there are plenty of really good underground bands out there, but my focus is on the mainstream junk that violates my ears every waking minute of the day, whether it’s on the TV or on the Radio. The music industry today requires no talent whatsoever and songs are just pumped out usually becoming over played and annoying.

Read More
1101 Words | 5 Pages

This study addresses how self-made artists in the music industry uses marketing skills to help promote their music compared to the artists that are signed to a record label. Throughout this essay, I’m to going to analyze and compare Chance the Rapper’s sales to that of a well-known Hip/Hop artist J. Cole and the marketing schemes deployed by the upcoming artists in the music industry. Artists must learn to adapt to change constantly. They have to incorporate or amalgamate several marketing and promoting schemes to grow their audience organically.

Read More
456 Words | 2 Pages

Fans, 18 and under, want to listen to music. However, not all parents like spending their money just for songs. Not all people would pay for music, thus, they download music for free and share them with others to make their favorite artists more famous. As a result, more people

Read More
2108 Words | 9 Pages

”- (Katz, 2004, p.2). I am analysing the growth in the technologies within music production and how they differ to modern technologies, and the change of roles within the recording studio in the last 50 years. Exploring artists such as Timbaland, George Martin and Pharrell Williams.

Read More
1267 Words | 6 Pages

It also identifies the internal and external areas of the business that need improvement and that can prove to be successful. Table 3.1 Strengths: • Apple has an awesome and unique interface where they are ‘head and shoulders’ above the others, giving the Apple Watch a high edge over the new product

Read More
1618 Words | 7 Pages

Social dimensions tend to be scalar, especially if they are not tangible, but informational (Taleb 2010, p. 33). The transition from non-scalar to scalar dimensions is associated to the invention of the phonograph (Thompson 2016): before, a singer could gain only a limited amount for every exhibition, while the opportunity to record their performance made their income not bonded to the single show and scalable. All the while, this process has another consequence: previously, various musicians could play in different theatres, surviving with their profession but without becoming extremely rich; with the reproducibility of sound, all the listeners have the opportunity to buy the (perceived) best musician’s recordings, condemning the others to a more troubled career. As Taleb noticed, however, scalability is not only a propriety of technological development: even evolution is scalable, as only those who are more able to adapt survive. In the long run, only the best DNA will reproduce itself (Taleb 2010, p. 30).

Read More
1452 Words | 6 Pages

The music industry is indubitably one of the largest entertainment industries in world. Global recorded music sales raked in a total of US $15.7 billion in 2016 (International Federation of Phonographic Industry (IFPI), 2016). The music industry “consists of the companies and individuals that make money by creating and selling live music performances, sound recordings and music videos of songs and instrumental pieces” (The Audiopedia, 2016). Over time, the dissemination of music has evolved. In the past, vinyl records and compact discs were a common way to distribute recorded music.

Read More
1575 Words | 7 Pages

Internet downloading and peer-to-peer (P2P) sharing services has been growing rapidly since the technology has evolved over the time. The internet getting popular and so do piracy has become even more widespread. Choi and Perez (2007) stated that online piracy refers to the unauthorized use or reproduction of copyrighted or patented (electronic) material such as music or software files. Piracy version of music files which mostly in MP3 format have become widespread on the Internet (Peitz & Waelbroeck, 2005). Today’s the music industry has experienced a world of change which are turning the industry upside down and the music consumption pattern and music sales has been reconsider.

Read More

More about Pestle Analysis Of The Music Industry

Related Topics

Open Document