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Marketing management and strategy - The UK music industry - Essay Example

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Author : vrobel

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The UK music industry has been always in an innovative and leading over the last 60 years. Almost every piece, every genre of music we know today was born in a cradle of monarchy - United Kingdom…

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Marketing management and strategy - The UK music industry

The UK music industry is facing dramatic changes caused by shifts in the patterns people buy music tracks and albums. Online music distribution is changing the rules of the market introducing both major threats and growth opportunities for music labels and distributors. Whereas increased download opportunities and digital format preferences are threatening traditional music specialty stores, legal music websites and music producers have to find creative ways to fight back internet piracy to achieve targeted rates of returns. Online market demand is dominated by teenagers who have shifted their purchases from singles CDs to mostly illegal downloads of singles tracks, stimulated by continually evolving software and P2P networks. In order to survive, market players have to reconsider their strategies and value propositions – by mergers of music labels; flexible pricing and value-added offers by online distributors and active ethical campaigns, the challenge before these companies is to convert the internet medium from a threat to copyrighted material into an effective distribution channel. ...
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