Analysis of the music industry today

Abstract

The music industry has undergone many changes in just 20 years, going from the physical format such as vinyl to streaming platforms such as Spotify. This industry is characterized by being very dynamic and in constant movement and has gone through several key revolutions such as: the arrival of the Internet that caused the consumption of pirated music through platforms like Napster or the peer-to-peer network, the birth of iTunes where it was the first to make an easy and simple process of selling music in digital format, and finally the consumption of music through streaming platforms. Along the way there have been several changes in business models, changes in record labels, new roles and agents in the value chain, new ways of monetizing music, new habits of consuming music.... And all these challenges have meant that the music industry has had to adapt by innovating until reaching the current music industry as we know it today. In this project we will describe the music industry from live music to recorded music, explaining the changes that the industry has had to face and its main characteristics. We will also go into more detail about recorded music and its evolution in Spain and we will make clear both the processes that form the value chain and the agents that are involved.