Summary of The Music Industry and the Digital Revolution

Looking for the video?
We have the summary! Get the key insights in just 5 minutes.

The Music Industry and the Digital Revolution summary
Start getting smarter:
or see our plans

Rating

8

Qualities

  • Overview
  • Engaging
  • Innovative

Recommendation

No industry is immune to paradigm-shifting disruption. To examine the changes that technology has inflicted on the music industry, Economist Films zeroes in on a medley of case studies that collectively provide a colorful overall picture. It concludes that to survive the subsequent upheaval, industry players must welcome the opportunities – rather than ward off the threats – that radical disruption begets. getAbstract recommends this vibrant video to artists and musicians, as well as to leaders across all industries who need a reminder of the importance of adapting.

About the Speaker

Economist Films produces documentaries that investigate economic, social and political issues.

 

Summary

Although digital technology has transformed how consumers experience music, the music industry’s business model has resisted change. In a standard record deal, artists surrender their music rights to a record company. Yet many artists, including rock band Radiohead, are challenging this model, which unfairly favors record labels. When Radiohead’s contract with EMI expired in 2007, the band released its next album, In Rainbows, as a digital download and allowed fans to pay whatever they wanted for the album. Ultimately, the band earned more digital income from In Rainbows than from all its previous ...


More on this topic

By the same author

Work: In Progress
7
The World in 2019
7
Saudi Arabia: Open for Tourists
6
The Climate-Change Experiment
9
The Deep Ocean Is the Final Frontier on Planet Earth
7
The Earth Circle
8
Populism Is Reshaping Our World
8
The World in 2017
8
Oil and Gas Companies Are Facing Major Technological Disruption
7
Cars of the Future
8

Customers who read this summary also read

Hit Makers
10
How to Rewrite the Rules, with Sam Conniff Allende
7
Need a New Idea? Start at the Edge of What Is Known
8
Where Joy Hides and How to Find It
8
Living Entrepreneurially
8
Winners & Losers
8

Related Channels

Comment on this summary

  • Avatar
  • Avatar
    G. M. 3 years ago
    What a powewrful read and very eye opening - thank-you!
  • Avatar
    A. A. 3 years ago
    Music industry needs more attention from the digital world
  • Avatar
    C. P. 3 years ago
    Thanks for the industry insight which I would normally not be aware of.