Music Industry

100 Million

6.4 million

67.4 Million

Barbie

No Time To Die

Lots of Synergy and Cross media convergence

Barbie, No time to die, a book, a fragrance, a documentary - all these merchandise items are priced very highly

Curran and Seaton - Maximising profit to maintain market share - important so the institutions have lots of power over the market, allowing them to charge even higher prices

Lack of creativity and genuineness

Manufactured in a repeating cycle which is designed for success and profit - results in lack of actual skill

David Hesmondhalgh - Cultural industries theory, mainstream music is dull, in creative, doesn’t take risks, just repeats same formula process to maximise profits and maintain power

£52.00

3400

1600

3600

500

Niche

Marketing, synergy, and technological convergence

Merchandise

They are more genuine and aren’t manufactured

More loyal fan base - fans feel closer and more connected to the group

Henry Jenkins

More about enjoyment than maximising profit

More creativity and true talent

Not just factory produced → audiences may be more inclined to listen

Blumler and Kats uses and gratifications

The music industry is dominated by three big companies, Sony, Warner, and Universal. These conglomerates dominate the market and effectively form an oligopoly. They hold the largest market share of the marketplace at 68% compared to the independent sector of the marketplace which only accounts for 27.1%. The big 3 use both vertical integration and horizontal integration to maintain control over this valuable market. To determine how these companies and the independent sector use - INSERT QUESTION- , I will be using the mainstream artist Billie Eillish, and the independent artist Chine Bears.

68%

27.1%

Believes that fans are really important for an artists success

Fans are loyal, will attend concerts, partake in textual poaching, and purchase merchandise. All of these activities allow the artist to continue creating music. In the case of China bears…

Audiences use media products to gratify their needs. Some of these needs include entertainment, information, diversion, escapism, and personal identification. China bears gratifies consumers needs by creating something genuine… etc

Media industries are dominated by a small number of giant conglomerates - Sony, Warner, and universal

Media industries and companies are all about profit and market share

Believes that companies need to minimise risk and maximise audiences to be successful

He believes that media industries are dull, boring, and uncreative: don’t take risks, all the same,