Imagine a world without music and you will realize it’s a fundamental part of our lives. It’s something we encounter daily; both in our working lives and leisure time, and is as essential a part of our culture as the written word. As something that is both inherently desirable and necessary for a full life, it’s a valuable commodity, and traded as such all over the world.
The development of the music as an industry was itself a fundamental process in the way consumers accessed music, brought about by the desire of composers and performers in the 18th century to free themselves of the restrictions on their work that were imposed by the princes and bishops who sponsored them. In realizing that people were willing to pay for the privilege of hearing or playing their music, they sold their works in print and charged for their performances, and thus bought their artistic freedom.
At present the industry is going through a period of great change. The introduction of the digital download market has meant re-thinking of business models and finding new sources of revenue, as well as new ways in which to protect interests. It’s tempting to see such periods of change as deeply negative but the industry has gone through many such periods, and has continued to flourish and adjust itself over the decades.
In this term paper I will discuss the recent changes within the music industry and how this is effecting the monetization of intellectual property.
I will focus on the two main groups, labels and artists, while pointing out the effects and opportunities of these changes for each of them. While doing so I´ll try to highlight the relevance of credits in music along with how recent developments in terms of digital download have affected them.
Inhaltsverzeichnis (Table of Contents)
- Introduction
- The Industry - today's facts, figures & key players
- The Industry - past and present
- Piracy and decreasing prices
- New Business Models
- The Empowered Artist
- Crediting Intellectual Property
- Mechanical and Performance Royalties
- Where the Industry is headed
- Literature/Sources
Zielsetzung und Themenschwerpunkte (Objectives and Key Themes)
This term paper examines the recent changes within the music industry and their impact on the monetization of intellectual property. It focuses on the two main groups, labels and artists, exploring the effects and opportunities of these changes for each group. The paper emphasizes the relevance of credits in music and how recent developments in digital downloads have affected them.
- The evolving music industry and the challenges of monetizing intellectual property.
- The impact of piracy and decreasing prices on the music industry.
- The emergence of new business models and revenue streams.
- The role of artists in the digital age and their ability to control their intellectual property.
- The importance of crediting intellectual property in music.
Zusammenfassung der Kapitel (Chapter Summaries)
- Introduction: This chapter provides an overview of the music industry and its historical development, highlighting the importance of music in our lives and the evolution of its consumption. The chapter also introduces the challenges faced by the industry due to the emergence of the digital download market.
- The Industry - today's facts, figures & key players: This chapter delves into the current state of the music industry, examining key players, market trends, and relevant statistics.
- The Industry - past and present: This chapter examines the historical context of the music industry, exploring issues such as piracy and decreasing prices, and the emergence of new business models in response to these challenges.
- The Empowered Artist: This chapter focuses on the role of artists in the digital age, highlighting their ability to control their intellectual property through crediting and the collection of mechanical and performance royalties.
Schlüsselwörter (Keywords)
The key terms and concepts explored in this paper include: music industry, intellectual property, monetization, digital downloads, piracy, business models, artists, labels, crediting, mechanical royalties, performance royalties.
- Quote paper
- Jan-Patrick Stolpmann (Author), 2010, Monetizing intellectual property in the changing music industry, Munich, GRIN Verlag, https://www.grin.com/document/172167
