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The digital revolution of the music industry and its emerging future trends
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This work project focuses on the digital transformation of the music industry. While examining the extent to which lower entry barriers and the resulting growing number of independent artists and labels are affecting the market power of major labels, this paper sheds light on which strategies can make on-demand music streaming profitable in the long run. Consequently, it was identified that while major labels do not consider their dominant position to be threatened by independents, the possibility exists that streaming providers could take over major labels to economize on royalty payments in the future.
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Music industry On-demand music streaming Major labels Label-as-a-service