We all enjoy our favourite music with Spotify, Apple Music or YouTube but, do we know what’s behind these services and the implications of the streaming model for the music industry?

In 2020, the global recorded music market grew by 7.4%, with total revenues close to the maximum reached twenty years ago. This marked the sixth consecutive year of growth thanks to a continued rise in paid subscription streaming revenues, and presents a promising future for the sector. However, on the other hand, the streaming model is controversial as many artists consider they are not fairly paid. In this seminar we will analyse the changes that the music industry has undergone in its business models over the last years, to a large extent due to technological innovation. We will also learn how these changes have affected the revenues of artists, authors and record labels, together with different areas of the business, such as financing, distribution and music promotion. As a consequence, we will not only have a better understanding of the music industry, but also learn important lessons regarding the subscription business model, a model with an increasing importance in many other sectors.

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