With the development of the Internet age, Internet technology has been developed to various industries. Interest technology has affected the traditional form, but also triggered the enterprise market and competitive environment drastic changes. As mentioned in the text book, successful innovation is difficult because innovation is often short and risky. But there is no innovation, is not now convenient. Both the music industry and book-publishing industry are the success examples of business model, competitive advantage and innovation. According to this talk by Philip Even, business strategies are based on technology-related assumption. Those assumptions are constantly changing, and in fact the change is so great that the direction of this …show more content…
With these competitive sources advantage, we have more choices. In other words, businesses in the competition at the same time will continue to upgrade themselves, so as to bring us a better quality of resources. In the past, we needed to spend $10 to buy a CD. The disc is usually recorded ten to twenty songs. Now, however, we only need to pay a lot of songs by paying a subscription fee. We do not need to go to a specific place to buy CD-ROM and can listen to music at any time you want to listen to music. In addition, the recording habits of the album have been changed. Before buying a record is prepaying consumption, a lot of time we are because the title song or nice cover to by album. Now fewer and fewer people will buy a record unless it is for a particular album or buy a collection. On the traditional mass media: book publishing, in the digital process has changed. At the beginning of the day, the book was in hand written mode. Then with the development of printing, books gradually changed to print and publish. However, with the development of information technology, people began to use computer typing and typography. Before the bookstore is our only place to buy books. But now we can arbitrarily in the online search for their books, and online resources than the physical bookstore more comprehensive, information updates more quickly. Except on the one hand, books’ material is not
Birkerts provides three effects that will occur as a result of moving away from the printed word to the electronic media. The first effect is the language erosion. He explains the reader that transition from books will lead to the “complexity and distinctiveness of verbal and written communication, which are deeply bound to transaction of print literacy, will gradually be replaced by a more telegraphic sort of plainspeak” (9). In the future our language will start to become more simple and dumb. Whereas, by reading books and printed materials people are able to dig more depth and understand and imagine the contents. But, soon this will start to disappear as people will no longer be able to understand the complex language of the literature and intelligence level of people will start to decrease. The second effect of electronic media is the flattening of historical perspectives. This means that due to the electronic media the history will start to recede because the “printed page itself is a link” and when this link is broken the past will gradually diminish (10). Birkerts explains the audience that the past is best represented in the books and libraries. Therefore, moving away from the printed word means moving away from the past and its history. The last effect is the waning of the private self. Birkerts worries that in the future people will forget how to live because of the electronic
This course for juniors and seniors explores firm strategies related to innovation and technological change. We focus on how the success of technological innovations—new products, processes, and services—depends on the firm’s business model. Other key topics include intellectual property rights and the management of technological uncertainty through organizational arrangements such as corporate venturing, spinoffs, and alliances.
Organisations today find themselves operating in an environment that is changing rapidly. The process of analysing the implications of these changes and modifying the way that the organisation reacts to them is known as business strategy.
Things that used to be printed out on paper such as newspapers and articles can all be found digitally. There is not hope for the things of the past like that. It is only a matter of time before there won’t be any paper books. They will all be digital. A much acclaimed critic writes, “One has only to look at
The ever-changing landscape of music distribution, due to constant advancements in technology, is sometimes hard to keep up with for artist, producer, and consumer alike. New editions of textbooks in Music Business classes are issued each year, and changes are made in the industry before the semester is even over. Because of this, it is vital for the industry to not only not only be aware of what is currently going happening, but also be able to foresee the direction that the music business is heading in. In this aspect, it seems that we are at a turning point where consumers and artists are taking
With the advances in technology and increase in internet broadband availability (The Broadband Commision, 2014), record labels are being forces to innovate and update their business models (M.Coz & Torres, 2013) to keep up with the latest technology (Solis, 2015). Of these technologies, the move away from physical sales (of music) to Digital sales is the most significant. Digital sales have increased over the last 6 years (as shown in Table 1) in terms of revenues, and this is set to carry on this way in the future (Solis, 2015).
Even though it is true that reading on real papers will help the readers pay attention to the contents than the screen and they can “practice an unnatural process of thought” (219), the writer overlooks advantages of e-books and other online information. Reading on pages is utterly better than reading on the screen, but carrying printed books is more inconvenient than carrying a laptop which can access numerous e-books. In addition, not everyone can afford printed books. For those people who need a lot of books, especially students, e-books and other online sources are rather economical and reasonable choices. And another great thing of it, on the internet, information is updated continuously, whereas printed books might be out of date and the readers have to buy new editions. Moreover, internet is a chance for people over the world to reach the book they need, because there is not every book are translated into other languages, or the original ones are not be transferred to their countries. With these benefit, printed books has become difficult to overwhelm the
Key trends, such as technological innovation, have played an increasingly important role in successful business models. The rise of information systems and new advances in technology have been an important external factor, which business models must address (Hedman & Kalling, 2003). Business model that are unable to adapt to changes in technology must be changed through innovation or the underlying business will not be successful.
Since the start of the annual Record Store Day there has been an obvious increase in vinyl sales. Anthony Schoettle informs that in 2007 one million vinyls were sold, however in 2015, sales jumped to nearly twelve million vinyls sold (24A). Within these eight years, vinyl has shown a staggering increase in sales. Even used vinyls are making a comeback. “Local music shop owners say used albums make up 40 percent to 60 percent of the records headed out the door” (Schoettle 24A). The knowledge that the vinyls being bought are vintage and that their sound is original and not autotuned must drive the sales. Along with vinyls’ sales increase, other music platforms have been decreasing in their sales. “CD sales, though, decreased 11 percent in 2015 and digital downloads were down 3 percent, according to Nielsen, while vinyl sales were up 30 percent” (Schoettle 24A). Vinyl is the only music platform that is growing; CDs and digital music have only been staying flat or decreasing in sales since vinyl started making its comeback. Overall, the vinyl industry is making a strong comeback and starting to blow other music platforms out of the water.
We all remember the discussions when mp3s started becoming popular and people insisted “they’ll want the album notes – they’ll want the physical CD.” Then Apple came along and introduced the iTunes Store and multiple copycats followed so buying electronic music was even easier and became mass-market through support of major record labels.
Our first author, Tim Alan(2014) in his article "How Social Media and the Internet have changed the music industry" says that "the music industry has witnessed more change than most" industries. His main reasons firstly are the poor sales of CDs. Because of the rise of digital downloads, the sales of compact discs have dropped significantly. Also, "social media has changed the industry from how artists interact with each other to the ways of how they promote new music and gain followers". He concludes by saying that streaming services seem to be "the next dominant in the industry."
Over the past decade, the use of CDs has been replaced with online streaming and retailing. This has eliminated much of the record companies revenues as they were used to making most of their profit off of distribution and promotion of physical copies of artists albums (Niemen). This has caused for a major shift and remodeling of major players in the music industries business models. Companies such Sony, Warner Music Group and Universal Music Group have started to completely rethink the way they conduct business (Forbes). In the past record labels were not only responsible for production, distribution and promotion of an artist and his/her music, but they also acted as a bank (Forbes), funding the artists tours and recording sessions. Recently, these music giants have been moving towards becoming more of a modular network organization. What this means is that they are less occupied with the nitty gritty, and more focused on what they do best which is distribution and promotion. This also allows for more freedom of creativity for the artist as well as fairer split of profits (Forbes). This adaption of new business models clearly shows the versatility of the music industry in adapting to new times and technologies.
In 2000 the digital music was the next big thing in how consumers listen to music. The technological shift in music changed how the relationship is between the artists, recording companies, promoters and music stores on how they operate today. In the late 90’s and early 2000’s Peer-to-peer (P2P) networks allowed free exchange of music files with companies like Napster and Kazaa was a big step that allowed consumers to store large libraries of music. With the cost of hard drive space going down; it allowed for pocket-sized computers to store more information in a smaller space that open the door for apple to step in with the unveiling of the iPod and iTunes. These systems made it possible for storage and playback that gave consumers the
During the development of technology, most people have shifted to use electronic books to read both academic and non-academic texts. However, despite the technological changes, there has been a wide debate about the benefits of paper books over the e-books. It is important to understand that various reasons are suggesting why people should shift back to using the traditional books rather than the electronic ones. Even though some think that e-books are better that traditional ones, I believe that readers should return to traditional books because of various reasons.
Moreover, we can conclude that these media have a massive contribution in the process of mass communications. Although, that many people thought that traditional media would be replaced and converged or digital media would take over or supplant the old media, nevertheless then the old media still existing. But to neglect or ignore that, the books, for example, cannot be replaced by television, while the attraction of internet and web cannot fully overtake the fascination of newspapers and magazines, because nowadays we can see that people are still buying newspaper and hard copy books since it fulfils their needs and fits in their lifestyle. Digital media have not replaced printed media, but they have taken over a large portion of the audience. As, technological innovations surface and are adopted into our daily lives, old habits do change. One thing that will not change is the audience’s desire to get news, information and entertainment via mass media, whether that means paper delivery or electronic delivery of