M110+11+Session+3+-+post+class

M110+11+Session+3+-+post+class - Macro Environment...

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Macro Environment Political/Legal – International law and enforcement on piracy Socio-cultural – cultural differences on copyright Technological – new format/device/distribution channel, cost of producing Demographical – younger generation, tech-savvy… Economic – music is more a discretionary spending As a result, overall industry growth is declining, causing…
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Competitive Forces Rivalry – C4 about 72%, industry growth declining, recorded music becomes a “commodity” Entrants – new tech/channel reduce costs for self-recording and distribution, leading to individual-labels Buyer – new tech/channel allows them to buy single tracks Buyer new tech/channel allows them to buy single tracks (what they want only) instead of a whole CD (bundle!) Supplier self recording and individual labels reduced power of Supplier – self-recording and individual labels reduced power of record companies (less dependent on them) S b tit t i till i bl ith t h/ Substitutes – piracy still viable even with new tech/revenue model. New radio format such as XM radio
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Conclusion The music industry is in a transitional state as technological advances render some formats obsolete. Consumer demand for portability and flexibility, combined with technological advances has shifted the way we purchase and listen to music. Also important is the ease at which new formats allow for the pirating of music.
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