The music industry was the first media sector to be massively affected by digitization and the internet. In this paper, the strongly technology-driven transformation of the sector is first reconstructed, divided into distinguishable development phases and condensed into characteristic...

We analyze the extent to which endogenous cultural amenities affect the spatial equilibrium share of high-human-capital employees. To overcome endogeneity, we draw on a quasi-natural experiment in German history and exploit the exogenous spatial distribution of baroque opera houses built as a...

Some economists assert that as valuable works transition from copyrighted status and fall into the public domain they will be underexploited and their value dissipated. Others insist instead that without an owner to control their use, valuable public domain works will be overexploited or...

We develop a novel measure of investor sentiment based on the valence of songs that individuals listen to. We show that our measure of music sentiment captures seasonal mood swings. We further document that music sentiment is associated with a systematic pattern of mispricing correction. This...

Newcomers often have trouble being taken seriously, or even noticed in the first place. This challenge, often referred to as the “liability of newness” (Freeman et al. 1983, Stinchcombe 1965), underscores the idea that to survive and thrive, new entrants must be recognized as legitimate by...

This paper discusses the impact of new information technologies, especially Internet, in the structure of the music industry and offers an assessment of the main influences that are reconfiguring the operation of music creation and production. The analysis covers the content and the...

There are numerous studies analyzing factors of success in media-broadcasted artistic contests, especially music competitions. However, one factor that is generally neglected in the literature is the quality of the artistic performances (i.e. "music quality"). In this paper, we approach this...

Users and suppliers of complementary products on digital platforms routinely face several non-trivial challenges due to an overload of information and fierce competition for attention. As such, effective management and governance mechanisms facilitating network effects and value co-creation with...

Short-selling and liquidity provision in Exchange-Traded Funds creates ETF shares with cash flows rights but no associated voting rights. These "phantom shares" trade at ETF market prices, but, because they are not backed by the underlying basket of securities held by the ETF sponsor's custodian...

There are numerous studies analyzing factors of success in media-broadcasted artistic contests, especially music competitions. However, one factor that is generally neglected in the literature is the quality of the artistic performances (i.e. "music quality"). In this paper, we approach this...

We test the concept of contestability in the digital music player market. The theory suggests that the threat of new entrants keeps firms' market power in check. But Baumol and others argue that pure contestable markets rarely happen in reality. The portable music player market has been...

Streaming music services have exploded in popularity in the past few years, variously raising optimism and concern about their impacts on recorded music revenue. On the one hand, streaming services allow sellers to engage in bundling with the promise of increasing revenues, profits, and consumer...

Interactive music streaming services have grown tremendously in recent years, raising questions about their effects on digital music sales and piracy. While often overlooked in practice, theoretical considerations suggest that these effects may differ according to the streaming services'...

Sound and civic engagement -- The lure of audio recording -- Newfoundlanders on record : from the 1950s to the early 1970s -- A unique music industry -- The trouble with genre -- Sonic signatures -- Past and possibilities : audio recording and/as action -- Just because you can : the RPM...

"This book is a comprehensive and easy-to-read overview of today's music publishing industry written for students and musicians (songwriters, producers, beat makers, and more) who want quick, up-to-date, credible, and relatable information so that they can get back to doing what they like best:...

This research book is the first of its kind to conduct an interdisciplinary research on the recent and dramatic developments in China’s music industries with a particular focus on business models, copyright protection, and artist compensation. The monograph explores and discusses proper...