The global digital music industry continues to evolve rapidly, resulting in extensive expansion of record companies into new markets, creating new business models, monetization of the market by the main participants, the increase in attractiveness of digital music. Both users and artists are interested in increasing the audience of digital music market. Digital music is one of the key sources of revenues of the global music industry, which is growing dramatically. It should be noted that in context of increased competition, the competitive advantage is the key prerequisite for companies working in the music industry to safeguard their positions. ...
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Introduction
The music industry loosely known as the recording industry is comprised of individuals and entities that create and sell music to make money. The music industry has in the past decade changed significantly because of the growth experienced in the internet and digitization. Due to these changes, traditional business models and existing value chains have been disrupted. It is important to determine the effects these changes have had on the music industry. This is necessary especially if one hopes to start a business in the music industry. Consequently, a situational is necessary in order to stay abreast with the industry dynamics ...
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