Understanding the Music Industry’s Opportunities: An In-depth Analysis
Bio
I’m a 4th-year Professional Communication student with a profound passion for music production, composition, and theory. From creating melodies to experimenting with innovative production techniques, I thrive in the artistry of music creation. Alongside my musical passion, my interest in marketing, communication, business, and advertisement ignites a relentless pursuit to uncover innovative strategies for driving success across diverse industries. Constantly seeking new avenues to integrate marketing methodologies, I am committed to continuously strengthening strategic thinking to propel businesses toward their full potential.
Linkedin Profile: linkedin.com/in/maxharotis26
Research Summary
This capstone project was created to broadcast today’s opportunities within the music industry for emerging artists and musicians. The methodologies used for this project include a mixed-methods approach, developing qualitative & independent artist case studies along with research and use of secondary data for statistical analysis.
The project examined three main themes: the shift from CD/Vinyl sales to streaming, the role of record labels today, and the impact of AI on the music industry. Using the Eagles’ “Hotel California” album as an example, it showed how streaming pays significantly less than traditional album sales. The discussion on record labels highlighted their financial support but also their control over artists’ creativity, while independent artists enjoy autonomy but face resource limitations.
AI’s influence on music spans songwriting, concert experiences, consumption, and production, offering efficiency but lacking human emotion. Despite AI advancements, artists’ jobs remain secure for now. In conclusion, the music industry presents various paths for artists, whether prioritizing creative control or commercial success, with AI and digital platforms offering new opportunities. Ultimately, the choice depends on individual goals and values.
