Crowdfunding and the democratization of the music market

Bibliographic Data

ID11268449
AuthorsPatryk Galuszka (0000-0002-1636-6651, University of Lodz, corresponding author), Blanka Brzozowska (0000-0003-0045-2720, University of Lodz)
Year2017
Volume39
Issue6
Pages833-849
Publication date2017-09-01
Peer ReviewedYes
Open AccessYes
TypeARTICLE
VenueMedia Culture & Society (JOURNAL)
Journal identifiersISSN: 0163-4437 • E-ISSN: 1460-3675
PublisherSAGE Publications (PUBLISHER • US)
DOI10.1177/0163443716674364
OpenAlexW2538956638
LanguageEN
Citations received16
References cited34

The article analyzes the phenomenon of crowdfunding from the perspective of its democratizing influence on the music market. Crowdfunding enables artists to finance the release of their records, which theoretically allows them to enter the music market without the intermediation of traditional record labels. By using empirical data, the article shows that the democratizing influence of crowdfunding is limited. This results partially from the difficulties of dealing with promotional activities traditionally conducted by record labels. In other words, neither crowdfunding platforms nor contributors have the power, connections, or know-how of traditional record labels

Advertising · Art · Business · Democracy · Democratization · Empirical evidence · Epistemology · Intermediation · Music industry · Perspective (graphical · Phenomenon · Political science · Power (physics · Visual arts · FinTech, Crowdfunding, Digital Finance · Law · Private Equity and Venture Capital · Sharing Economy and Platforms · Finance · Marketing

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