|Date of event:||4 March 2015|
|Event ends:||4 March 2015|
The music industry, especially music publishing, has faced a challenged business environment for well over a decade in the face of declining CD sales – its major revenue driver - and new technology enabled online retailers that have completely disrupted the traditional marketplace.
On Wednesday 4 March, the eBusiness SIG were delighted to invite alumni to an evening with Neil Gaffney on Music Madness: The Age of Shrinkage & Disruption.
The music industry, especially music publishing, has faced a challenging business environment for well over a decade in the face of declining CD sales - its major revenue driver - and new technology enabled online retailers who have completely disrupted the traditional marketplace.
Moving from a local-market, low-volume, high-value business to a globalised, high-volume, low-value trading place, the music publishing industry has had to learn how to manage big data and micro-penny financial transactions against a back-drop of new business models and challenges to the traditional business set-up. Despite all this, the industry continues to thrive.
It was a fascinating presentation from Neil, interspersed with lively discussion from alumni and guests, covering areas such as:
- How the market place has changed
- Who the new players are
- What music publishers have done to stay in the game
- How the collection societies have changed to meet new business needs and demands from legislators in both the USA and Europe
- Local markets versus Globalisation
- Whether disruption has created a success story