|dc.description.abstract||Purpose/aims: The purpose of this study is to investigate the strategic response of
artists in the contemporary music industry, while examining the nature and
importance of an organisational strategy. The aim of this study is gain fuller
understanding of the measures taken for artists to compete in a market that is hypercompetitive
due to the digitalisation while contributing to an area of research that has
not been investigated in the past.
Design/Methodology/Approach: Data was collected through semi-structured
interviews with five participants operating in various roles and genres in the European
music industry. To improve reliability and validity research was taken from an array
of industry experts across various functions. Data analysis was executed in which key
themes appeared which were contrasted against the existing literature which led to
Findings: Strategy was found to be an essential element to artists operating in the
contemporary music industry. Changes in the business environment mean that artists
are constantly having to adapt their strategies to demonstrate that they are still
relevant in the industry. Due to the increased competition there is a huge pressure for
artists to use innovation and strategy in order to achieve a sustainable competitive
advantage in ways that did not exist pre-digital. This will continue to change with
technology advancements causing further disruption to the music industry which only
stresses the importance of innovation and strategy.
Research Limitations/Implications: The research was limited to the participants
who were involved in the study. This means that the study is limits the generalizability
of the findings due to geographical constraints and limited genres involved in the
study. Repeating the study in other geographical areas and across different genres
of music could serve to help the generalizability of this study.
Originality/Value: This study is the first to investigate the strategy adopted by artists
in the contemporary music industry.
Key Words: Strategy, Competitive Advantage, Change, Innovation, Music Industry,
Social Media, Streaming
Paper Type: Research Paper||en