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Universal Music Group
CBP is based on past consumption values as a way to forecast the sale of future goods and services. In regards to the music industry, CBP planning from before the internet would look quite different than from after. Before the internet, there was no way to digitally download a music CD. Thus, all music purchased had to be in the form of an in-person transaction resulting in a customer purchasing a physical CD. Right after the inception of this new technology, CD sales skyrocketed. This can be seen in the following graph of sales of different music mediums. This meant that for this time period, music suppliers and record companies, like Universal Music Group, were continuing to bump up inventory levels based on the massive increases seen in previous sales. Using CBP, the previous increases in sales would recommend an future increases in...
Unfortunately, "more than 20% drop in the number of CDs released since 1999" (Lessig, 2012). This was a huge decrease, with trends for the future continuing to show major declines in the number of CDE sales around the world. Even worse, "album sales falling an average of 8% each year" (Goldman, 2010). The reason for this massive decrease in reported sales is primarily because of the invention of digital music, which can be easily downloaded from the internet and played immediately upon purchase. According to the research, "industry insiders and experts argue that the main culprit for the industry's massive decline was the growing popularity of digital music" (Goldman, 2010).…
References
Goldman, David. (2010). Music's lost decade: Sales cut in half. CNN Money. Web. http://money.cnn.com/2010/02/02/news/companies/napster_music_industry/
Leibowitz, Stan J. (2004). Will MP3 downloads annihilate the record industry? The evidence so far. Advances in the Study of Entrepreneurship, Innovation, & Economic Growth, 15(2004), 229-260.
Lessig, Lawrence. (2012). What's behind the big drop in CD sales? Bull Not Bull. Web. http://www.bullnotbull.com/archive/lessig-1.html
Sales Current Events Sisario, Ben. (2014, September 25). U.S. music sales drop 5%, as habits shift online. New York Times, B3. Accessed 13 October 2014 at http://www.nytimes.com/2014/09/26/business/media/music-sales-drop-5-as-habits-shift-online.html?_r=0. The music sales landscape is constantly shifting, thereby creating considerable concern among music executives. In the New York Times article by Sisario (2014), the current sales figures for different music formats and outlets provide fuel for the theory that sales revenues are dropping because of
Music on American Culture and Values Over time, music has molded the American culture and its values in a variety of ways. In this text, I will highlight the various ways in which both music and radio have shaped American values and culture. In so doing, I will identify my favorite genre/type of music in an attempt to highlight the impact the music I listen to has had on American
Musicians The topic of interest is the relationship that musicians have with the Internet. The Internet era has brought significant challenge for artists, especially pertaining to piracy, but there are also opportunities. The Internet, therefore, has significantly changed the media and marketing landscape for artists. Morris (2010) notes that music has largely shifted from physical commodity, being sold on CDs (and vinyl and cassettes before that) to a digital commodity. This has
Sharing Copyrighted Digital Media Illegally is Like Piracy Although precise figures are unavailable, the music industry claims that illegal file-sharing practices are costing the industry billions of dollars in lost revenues each year (Gunter 32). Advocates of unlimited file sharing counter that the practice allows consumers to sample music they would not otherwise consider purchasing and that music sales are actually increased by illegal file sharing (Gunter 32). Moreover, illegal
Music Few popular music stars today are as colorful as Lady Gaga. Recently on tour, Lady Gaga is again making the headlines. In South Africa, a group of churches has been organizing protests against Lady Gaga's performances, and even just her presence, in the country. Among other complaints, the South African Council of Churches claims Lady Gaga's visit "could lead to an exponential growth of Satanism," (Engelbrecht, p. 1). For others,
Again, I would find here that in spite of my assumptions entering into the process that the technology now available has been the primary cause of damage to the record industry, the poor practical orientation of the record industry seems to be the real catalyst to its dramatic collapse. As McCready points out, making money on album sales through a record company has always been a convoluted and dubious