The Business Behind the Music Industry

SOURCE: www.grammy.com

Research Topic: The business behind how the music industry and artists make money

Key Economic Principal: People generally respond to incentives in predictable ways

Overarching Question: How does the music industry incentivize artists to create popular music?

Sub questions:

• What is the opportunity cost of artists when they are encouraged to create music for mass consumption?
• Link to Hypebot Article that asks if artists are “more pressured to conform” to the industry standards of today
• What are ways artists can be successful without conforming to mainstream trends?
• Link to blog that describes a new “blockchain” business model that allows artists and producers to have aligning incentives
• Link to Billboard Article that further explains the “blockchain” system
• What are different ways for artists to make money?
• Link to Rolling Stone Article that explains “royalties” and copyright in the music industry
• Link to The New Economy Article that further describes how the music industry makes money
• How is “popular” music distributed among large groups of people?
• Link to article from Spinnup that goes through how music is distributed today

Next Question: What are the different ways artists and industry professionals can make money in the music industry?