Consequences of Digital Revolution for Music Industry

Student: Barbikova Anastasia

Supervisor: Igor Sloev

Faculty: International College of Economics and Finance

Educational Programme: Double degree programme in Economics of the NRU HSE and the University of London (Bachelor)

Year of Graduation: 2019

This research paper aims to analyze how transition to digital era has affected music industry. The reasons and consequences of prolonged crisis are examined, new formats for music sharing are discussed. In this study it also considered how industry infrastructure was changed and which agents win or lose from the innovations. Phenomenon for music piracy is also discussed, questioning whether it can be fully responsible for crisis in the industry. The paper also presents a model to measure the effects of technological changes and household income on music sales using data for 15 countries through 13 years. The main problems and current state of the industry are summarized in the conclusion with further recommendations.

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