Ask a question from expert

Ask now

BUS 020 - Financial Accounting And Reporting

17 Pages4268 Words150 Views
   

Financial Accounting And Reporting (BUS 020)

   

Added on  2021-12-03

BUS 020 - Financial Accounting And Reporting

   

Financial Accounting And Reporting (BUS 020)

   Added on 2021-12-03

BookmarkShareRelated Documents
Running head: PROPOSAL
The Evolution of Social Media and Music Streaming with its Impact on the Music Industry
Name of the Student:
Name of the University:
Author’s Note:
BUS 020 - Financial Accounting And Reporting_1
1PROPOSAL
Table of Contents
Introduction......................................................................................................................................2
Aim of the study..............................................................................................................................3
Theoretical background...................................................................................................................3
Declination of music industry......................................................................................................4
Origin of music streaming and social media platforms...............................................................4
Benefits of streaming and social media on the music industry...................................................5
Challenges of using streaming and social media on music industry...........................................6
Future of streaming and social media on music industry............................................................6
Justification and contextualization..................................................................................................7
Methodology....................................................................................................................................8
Participants....................................................................................................................................10
Data gathering................................................................................................................................10
Access and ethics...........................................................................................................................12
Limitations.....................................................................................................................................12
Reflexivity.....................................................................................................................................13
Rigor..............................................................................................................................................13
References......................................................................................................................................14
BUS 020 - Financial Accounting And Reporting_2
2PROPOSAL
Introduction
Over the past decade, the evolution of music consumption has increased considerably and
streaming has become one of the significant methods of listening to music. Apart from
streaming, the expanded use of social media has also changed the music industry drastically.
Declination in the music industry was recorded when in the US, music’s biggest market;
revenues fell to $6.3 billion in 2009 from $14.6 billion in 1999. This gave rise to controversy
such as declaring this as the end of the music business. But things started to take turn in 2015,
when Universal Music Group recorded $1 billion profit from streaming (Marshall 2015). Music
streaming platforms such as Spotify and Apple Music saved the music industry drastically.
Napster is said to be the founder of the first streaming platform that helped change the music
industry. Thus, it can be said that steaming that was a matter of suspicion for the artists and
labels, is now considered as the path back to prosperity in the digital era for the music industry.
Apart from streaming, the social media platforms have also saved the music industry, as
this global platform provided an opportunity to reach out to the listeners regardless of time and
location. Celebrities and labels post their music launch or the entire video on the social media
platform that is accessible easily by the population around the world (Richardson 2014). For
example, YouTube has signed a multi-year agreement with Universal Music Group that allows
the artists pay and flexibility thereby, providing more value to the music industry. However,
issues such as limited digital reproduction, showing ads, hidden subscription fees and limited
earning for artists are matters of concern.
BUS 020 - Financial Accounting And Reporting_3
3PROPOSAL
Aim of the study
The aim of the study is to analyze the evolution of social media and music streaming with
its impact on the music industry.
Theoretical background
The research objectives are:
To investigate the evolution of social media and music streaming
To critically analyze the impact of social media and music streaming on the music
industry
To assess the relationship between social media and music streaming on music industry
To provide suitable recommendations for improving social media and music streaming
The research questions are:
What is the evolution history of social media and music streaming?
What is the impact of social media and music streaming on the music industry?
What is the relationship between social media and music streaming on music industry?
What are the suitable recommendations for improving social media and music streaming?
The hypotheses include:
H0: Social media and music streaming has no impact on music industry.
H1: Social media and music streaming has an impact on music industry.
BUS 020 - Financial Accounting And Reporting_4

End of preview

Want to access all the pages? Upload your documents or become a member.

Related Documents
The Evolution of Social Media and Music Streaming with its Impact on the Music Industry
|17
|4323
|443

Innovation Case Study: Spotify
|10
|2867
|480

Managing Innovation: Application of Blue Ocean and Disruptive Innovation Theories in the Context of Spotify
|19
|3721
|66

Impact of Electronic Commerce on Marketing and Selling Activities of Business
|32
|7589
|321