strgcMNGTcase#2

strgcMNGTcase#2 - Warner Music Group Inc. Recorded Music...

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Unformatted text preview: Warner Music Group Inc. Recorded Music Segment- Entertainment and Media Industry Justin Gardiner Dr. Ward February 11, 2009 BUSI 4349 Warner Music Group Inc.: Recorded Music Segment- Entertainment and Media Industry Executive Summary Warner Music Group (WMG) is currently one of the titans in the recorded music industry. They represent prime labels, as well as artists and also are successful in the area of selling copyrights. Positioning is in the fair-to-strong range in physical distribution, with their digital distribution positioning being very strong. Competition, though, in the market from other muscular corporations such as Sony BMG, Universal Music Group, and EMI Music Group was fierce. In order to give Warner Music Group competitive advantage, and increase revenue opportunities in a rapid changing consumer trend environment, I propose that WMG expand its presence in the digital and mobile distribution segments. In addition they should generate their own file sharing program with monthly subscription, while maintaining current physical distribution. Consumer trends show that consistently physical sales are declining and digital sales are on the rapid incline. Due to partnerships already created, and being a pioneer in such an endeavor, this will launch Warner Music Group into the prominence that it has always deserved. Mission/ Vision Statement The mission statement for Warner Music Group was not easy to locate but once reading through news releases off the company’s website, it is evident that their mission entails their desire of “having the right music, in the right place at the right time.” The company as a whole wishes to contribute to “helping people experience the joy of making music,” and from a business standpoint “sign and develop the world’s best recording artists and songwriters.” External Analysis The Government/Legal influence on the entertainment industry has a lot to do with piracy. The U.S. law on piracy “prohibits the unauthorized duplication, performance or distribution of a creative work.” (Recording Industry Association of America) This is punishable up to five years in prison and/or a $250,000 fine. The problem is that this crime happens so frequently that the law is not strictly enforced, due to the impossibility of catching everyone. The economy is experiencing a recessionary period. This is the underlying cause of the lack of spending occurring in every market. With 2.6 million Americans losing jobs in the past year (CNN Money), it is no wonder families choose to conserve their savings. Technological advances are contributing to a fast changing industry for recorded music, and entertainment alike. The Internet becomes more developed every year. In this day through the Internet, people can watch movies, TV shows, listen to music, call half way around the world, and the list is superfluous. Internationally, spending has decreased and increased at roughly the same rate as the American market....
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This note was uploaded on 06/07/2009 for the course CULF 1234 taught by Professor Sullivan during the Spring '09 term at St. Edwards.

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strgcMNGTcase#2 - Warner Music Group Inc. Recorded Music...

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