The following work deals with the effects of digital change on the German music industry. For this purpose, one of the most famous and successful music labels in the world, Sony Music Entertainment, will be analysed. Since this is a US-American company, this elaboration refers only to the company headquarters responsible for Germany. The work should show how the music industry has changed in recent years and how a large music company like Sony Music can withstand the demands of the digital age. For this purpose, the further course of this work is presented below.
In recent years there has been an extremely strong digital transformation. Digitalization is profoundly changing society in all areas of life. Information and communication technologies connect the different areas of everyday and working life. From intelligent energy supply, to smart logistics and transport systems, to the intelligent home. Intelligent business processes are at the center of Industry 4.0 in order to make the respective companies more flexible and resistant to unforeseen events . Not only manufacturing companies, logistics and industry, but also service companies have benefited from technological advances. Being able to deal with new technologies becomes more important for every entrepreneurial existence.
Many companies have had, or are in the process of, adapting their traditional corporate structures to ever-evolving digital needs. In the past, a number of industries, such as banks, commerce, music, film and television, and other service providers have been able to discover and adapt to this change. On the one hand, many companies have been able to achieve higher profits, faster growth and a high level of awareness through digitization. On the other hand, just as many companies have been unable to exploit the importance of technological change for their business model and were thus unable to adapt to the current requirements of the digital age, among them are some music labels that have not recognized or exploited the trend towards digital titles. Today, streaming portals like iTunes, Spotify, Tidal, etc. are the pioneers in the music industry.
Inhaltsverzeichnis (Table of Contents)
- Introduction
- Aim of this work
- Development and current situation of the German music market
- Major-Label: Sony Music Entertainment (SME)
- The digital revolution in the music industry
- Increasing need for mobility
- Increase in competition through digital change
- How technological change has affected Sony Music Entertainment
- Change in the value chain
- Digital distribution
- SWOT-Analysis of Sony Music Entertainment
- Strengths
- Weaknesses
- Opportunities
- Threats
- Important findings of the analysis
- Conclusion
Zielsetzung und Themenschwerpunkte (Objectives and Key Themes)
This paper examines the effects of technological change on the music industry in Germany, focusing on the example of Sony Music Entertainment (SME). It aims to analyze how digitalization has reshaped the industry's value chain, competition landscape, and business models.
- The impact of digital transformation on the German music market
- The role of Sony Music Entertainment in the evolving music industry
- The changing value chain in the digital music era
- The challenges and opportunities presented by technological change
- The strengths and weaknesses of Sony Music Entertainment in the digital landscape
Zusammenfassung der Kapitel (Chapter Summaries)
The introduction provides an overview of the profound digital transformation taking place in society and how it has impacted various industries, including the music sector. It highlights the emergence of digital platforms and their role in shaping consumer behavior and business models. The second chapter delves into the development and current state of the German music market, with a particular focus on Sony Music Entertainment as a major label.
Chapter three explores the digital revolution within the music industry, examining the increasing demand for mobile access and the rise of new competitors due to digital advancements. Chapter four analyzes how technological change has specifically impacted Sony Music Entertainment, while chapter five investigates the shifts in the value chain, particularly the emergence of digital distribution.
Chapter six presents a SWOT analysis of Sony Music Entertainment, highlighting its strengths, weaknesses, opportunities, and threats in the digital environment. This chapter concludes with an assessment of the key findings from the analysis.
Schlüsselwörter (Keywords)
Technological change, music industry, digital transformation, Sony Music Entertainment, digital distribution, value chain, SWOT analysis, competition, digital platforms, streaming, mobile access.
- Quote paper
- Adam Liskar (Author), 2017, How Does Technological Change Affect the Music Industry in Germany?, Munich, GRIN Verlag, https://www.grin.com/document/503752
