Industry Studies Research Task: The Business of Artist Management

This report provides a comprehensive analysis of the Australian music industry, focusing on artist management and its functions. It explores the business structure of music companies, highlighting the roles of key personnel such as CEOs, presidents, managers, booking agents, and promoters. The report emphasizes the significance of live performances and the revenue generated by the recording industry. Furthermore, it examines how the industry assists in the development of musicians, including famous Australian artists. The report also highlights the economic impact of the music industry, showcasing its contribution to job creation and revenue generation within Australia. It concludes by summarizing the growth of the industry and its potential for further development through various tools and techniques.

Industry Studies
Research Task Artist
Management

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
Business structure and its function..............................................................................................1
Assist in the development of musician........................................................................................3
CONCLUSION................................................................................................................................3
REFERENCES................................................................................................................................4

INTRODUCTION
Music industry is growing in a rapid sense by designing new, creative, attractive songs,
concerts, shows hence forth. However, main reason behind introducing impressive songs is to
offer an appropriate options of releasing stress to entire society (Jaber, 2016). Moreover, overall
sector of music is developing due to maximization in consumer demand as whole community is
demanding more or more. Thus, assignment is going to highlight an effective structure of
musical industry and their major functions towards success of a nation. Along with this,
techniques of promoting various individuals towards selecting musical industry as a profession is
also outlining in this project.
TASK 1
Business structure and its function
Musical industry is all about introducing creative songs, splendid concerts, outstanding
shows, composers and involved in establishing various programmes in order to entertain public.
Now-a-days most of the consumers are love to sing a song because they feel good as well as
found peace while designing an impressive lyrics. Basically, it has been observed that millions of
individuals are keen interested in composing different types of songs such as; romantic, hip hop,
party, spiritual, inspirational and fusion of several kinds in various languages. However, overall
industry is developing in a fastest way due to consumers desires as they always demand more or
more in order to release their stress or to refresh their mind (Zhang, Cheng and Boutaba, 2010).
In fact, it has been assessed that Australians love to hear music and seen as a sixth largest
music market at global marketplace. Along with this, increment consumer demand resulted in
maximization of digital sales by satisfying needs or desires of domestic as well as foreign clients.
However, according to given case study it has been observed that musical industry requires an
effective skills of leaders in order to run a business entity in most appropriate manner.
Meanwhile, managers of a company are responsible for directing overall staff members so that
they get motivated towards their job role and tries to attain professional as well as personal
targets by gaining the trust or loyalty of millions clients.
As per the survey report that is ARIA 2013 statistics of Australia identified that around
350 dollars million was invested in every year on various musical work such as recording of
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music and around 20% of Australian are engaged in designing songs from which almost 32% are
belong from age group of 15-24.
Structure of musical companies:- Basically, in Australia normal record company is
having a CEO which is chief executive officer of an organization as he/she is in charge of a
business entity. Along with this, company is also appointed their own president in order to run an
organization in most appropriate manner (Hotho and Champion, 2011). Thus, managers of firm
is liable to promote musics of their organization across the international boundaries in order to
maximum clients. Hence, various number of key people are hired at workplace such as; booking
agents, promoters, venue operators and so on. Beside this managing an artist is not an easy task
because it requires complete or suitable knowledge about business management and law in order
to pursue all the activities in better way. Instead of this, managers of an organization are liable to
promote artists careers by conducting several business activities in prominent way.
Thus, main function of musical industry of Australia are describing as follows:-
Live performance is seen as a most vital purpose of music industry by entertaining audiences in
order to generate maximum revenue with their outstanding songs. However, as per survey report
over nine million tickets are sold due to live performance in Australia as well as music theatres
are fully occupy. As a result around 1.5 million dollar was earned by recording industry by
entertaining millions of clients local and foreign also. Hence, it aids overall sector in maximizing
their business as compare to other such as film, television and video games industry. Apart from
this, functions of musical industry aids whole Australia in various manner . Additionally, some
of the essential function of musical industry is highlighted below:- Live performance:- According to this function, an association engaged in this industry
conduct number of live musical concerts for entertaining public in order to generate
maximum return on their investment. Their main objective is to encourage various
individual towards taking part in several outstanding shows (Tayur, Ganeshan and
Magazine, 2012).
 Record companies:- Apart from this, number of companies are emerges at Australian
marketplace in order to promote various individuals towards selecting music as their
profession. Along with this promote them to see their future in musical industry due to
boom in this sector as choice or preferences of consumers get increases day by day.
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Hence, at last, it has been analysed that Australian society are highly interested in musics
as they are spending their maximum income in development of overall industry.
Assist in the development of musician
Australian members are engaged in various activities in order to promote musics across
the international boundaries with the use of several advanced technology. Basically, live
performance, concerts, shows are increasing day by day because most of the consumers are
travel in Australia for enjoying this experience live. Thus, companies is growing in a rapid way
as well as all the shows are forecasted on television which may capture the minds of billions of
foreign customers. Hence, it has been understood that with the use of advanced technology
companies are developing which aids in growing economy of a Australia (Blomquist and et. al.,
2010).
Consequently, some of the famous singers of Australia are;- Delta Goodrem, Sia, Jimmy
Barnes, Nick cave, John Farnham and so on. All these members are seen as a masters in musical
industry due to their performance and outstanding way of expressing songs. Instead of this one of
the major factor of Australia is that this nation is seen as one of the wealthiest country across the
seas. Thus, most of the companies are involving in promoting various new members towards
selecting musical industry as their careers because overall sector is offering around 15000 jobs to
jobless people (Collins, 2017). As a result economy of a nation is enhancing rapidly by
increasing their national income in a minimum time period. Thus, famous Australian
organization involved in musical industry are Woolworths which is gaining around 61, 149.40 by
satisfying needs or demands of maximum clients.
Australian music industry is one of a most developing country in the world as well as
their revenue generation capacity usually high (Menz, 2012). To gets interpret from many studies
that artist of Australian usually prefer to perform stage shows as well as entertain their number of
individual. Although, their music has some different aspect which support and provide reflection
to listen to feel a differ concept. Every individual has their own concept and have a good soulful
voice. This reflect and consider as major reason behind growth and development of Australian
music industry where individual provide a sense of relaxation to their listeners.
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CONCLUSION
From the above report it has been summarised that musical industry in Australia is
growing in a fastest way due to consumers choice or preferences. Basically, main objective of
this assignment is to encourage various members of a nation towards musics by highlighting
number of opportunities in this sector. As a result it has been assessed that overall industry is
offering maximum job opportunities to various unemployed people. Thus, overall report is
focussing on development of musical industry by introducing several tools or techniques in order
to overcome various barriers. Apart from this, Australian members are spending their income in
enjoying different types of songs which resulted in maximization of job opportunity at
marketplace.
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REFERENCES
Books and Journals
Jaber, M.Y. ed., 2016. Learning curves: Theory, models, and applications. CRC Press.
Zhang, Q., Cheng, L. and Boutaba, R., 2010. Cloud computing: state-of-the-art and research
challenges. Journal of internet services and applications. 1(1). pp.7-18.
Hotho, S. and Champion, K., 2011. Small businesses in the new creative industries: innovation
as a people management challenge. Management Decision. 49(1). pp.29-54.
Tayur, S., Ganeshan, R. and Magazine, M. eds., 2012. Quantitative models for supply chain
management (Vol. 17). Springer Science & Business Media.
Blomquist, T and et. al., 2010. Project‐as‐practice: In search of project management research that
matters. Project Management Journal. 41(1). pp.5-16.
Menz, M., 2012. Functional top management team members: A review, synthesis, and research
agenda. Journal of Management. 38(1). pp.45-80.
Collins, H., 2017. Creative research: the theory and practice of research for the creative
industries. Bloomsbury Publishing.
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