A seminal music industry decision of the introduction of streaming services had a major impact

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Southern New Hampshire University *

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GRA-101

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Marketing

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Jul 1, 2024

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docx

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Uploaded by BrigadierWaterNightingale42

Part I A seminal music industry decision The I will discuss is the introduction of streaming services. Streaming services had a major impact on the music industry. This decision caused a huge musical shift in the music industry. Accountability played a crucial role in the decision-making process the introduction of streaming services in the music industry. As technology advanced and the internet became more prevalent, it became evident that traditional methods of music distribution like physical albums and digital downloads were no longer sufficient to meet the changing consumer demands. Streaming services presented a new way for consumers to access and consume music, offering convenience and instant access to a vast library of songs. However, this innovation also raised concerns about copyright infringement, royalty payments, and ensuring fair compensation for artists and rights holders. Accountability, in this context, involved addressing these concerns and establishing mechanisms to ensure that artists and rights holders were properly compensated for their work. This included negotiating licensing agreements with record labels, establishing revenue-sharing models, and implementing systems to track and report music usage accurately. By holding streaming services accountable for properly compensating artists and rights holders, the music industry sought to strike a balance between providing convenient access to music for consumers and ensuring a fair and sustainable ecosystem for creators. This accountability also influenced the development of regulations and standards to protect copyright and intellectual property rights in the digital age. Overall, accountability played a significant role in shaping the decision to introduce streaming services, as it aimed to address the challenges and concerns associated with this new method of music distribution, ensuring a fair and sustainable future for the music industry. The decision-making process of introducing streaming services to consumers would likely involve multiple stakeholders and departments within a music company or record label. Here’s a possible chain of command: 1. Senior Executives/Board of Directors: The decision to introduce streaming services would require approval from top-level executives or the board of directors. They would consider the potential benefits, risks, and financial implications of this new method of music distribution. 2. Business Development Team : Once the decision is approved, the business development team would be responsible for conducting market research and identifying potential streaming platforms or partners. They would evaluate different options based on factors like user base, revenue sharing models, and technological capabilities. 3. Legal and Copyright Team: The legal and copyright team would assess the legal aspects surrounding streaming services, including licensing agreements with artists, songwriters, and publishers. They would negotiate contracts and ensure compliance with copyright laws and intellectual property rights.

4. Technology Department : The technology department would play a crucial role in implementing the infrastructure and technical aspects of services They would work on building or integrating the necessary systems, ensuring seamless playback, experience, and security. 5. Marketing and Communications Team : The marketing and communications team would create strategies to promote the new streaming service to consumers. They would develop marketing campaigns, branding, and user acquisition plans to attract users and increase awareness. 6. Content Acquisition Team: This team would be responsible for acquiring the necessary music licenses and content for the streaming platform. They would negotiate deals with record labels, artists, and other rights holders to ensure a diverse and attractive music catalog. 7. Operations and Customer Support : The operations team would oversee day-to-day operations, ensuring that the platform runs smoothly and efficiently. They would handle customer support, address technical issues, and collect user feedback for future improvements. Throughout the decision-making process, there would be collaboration, coordination, and consultation among these various teams and stakeholders to ensure a comprehensive and well- executed introduction of streaming services to consumers. Part II. Since, I have worked in the service industry for well over 10 years, I decided to use some team building we used throughout the years. An example of effective team building from the service industry is when a company organizes team-building activities or outings to strengthen relationships and foster a positive team culture. This could involve activities such as team- building exercises, workshops, retreats, or even volunteer work together. These activities help employees bond, improve communication, and develop trust among team members, ultimately leading to more effective teamwork and better service delivery. I can apply team-building practices to a music career by creating opportunities for collaboration and fostering a positive and supportive team culture. This could involve organizing regular jam sessions or rehearsals with other musicians, participating in music workshops or retreats, or even volunteering together for musical events or community projects. Additionally, communication and trust are key components of effective teamwork, so it is important to establish open lines of communication with bandmates, managers, and other members of the music industry. This can be done through regular meetings, group discussions, and actively listening to each other's ideas and feedback. Also, building strong relationships within your music team can also lead to more opportunities for growth and success. Networking with other musicians, attending industry events, and connecting with music professionals can help expand your music career and create potential collaborations or partnerships. Overall, applying team-building practices to a music career

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