Running a record label when records don't sell anymore

Empirical evidence from Poland

Dados Bibliográficos

ID4305328
AutoresPatryk Galuszka (0000-0002-1636-6651, University of Lodz), Katarzyna M Wyrzykowska (0000-0002-1889-9865, Polish Academy of Sciences)
Ano2016
Volume35
Fascículo1
Páginas23-40
Data de publicação2016-01-01
Peer ReviewedSim
Open AccessSim
TipoARTICLE
PeriódicoPopular Music (JOURNAL)
Identificadores do periódicoISSN: 0261-1430 • E-ISSN: 1474-0095
EditoraCambridge University Press (CUP) (PUBLISHER)
DOI10.1017/s0261143015000811
OpenAlexW2337841034
IdiomaEN
Citações recebidas3
Referências citadas23

From an economic point of view, the business of record labels until recently boiled down to managing a portfolio of artists, with successful stars bringing the label enough money to recoup investments in market flops. The decline in record sales has called this model into question and forced labels to look for new sources of revenue. Employing qualitative data gathered in Poland, this paper demonstrates how labels react to adverse market conditions and what determines these reactions. The paper shows that these reactions include the monetisation of the relationship that a label has with artists through signing 360° deals, the commercial exploitation of artists' brand names, and concentration on niche markets, either foreign or format-based (e.g. the market for vinyl). The paper concludes that record labels, regardless of which approach they choose to deal with the adverse market conditions, still think in terms of managing a portfolio of artists. What is more, there is no universal strategy which can be applied by every label to deal with declining record sales

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