In order to find the metric that could appeal to artists, organizational leaders and stakeholders in the music industry, we must sort out what each role wants to gain from the music industry means, and what metric systems are they using as a judgment for their aesthetic or financial needs, currently or potentially.
Starting with the stakeholders, their main interest in the music industry is to see economic prospects and social change, which in other terms is to make profit or support the mission. For for-profit music organizations, stakeholders are in for the money, which is why they invested the company in the first place, and would like to see profit at the end of each quarter in return. The metrics they currently use are financial terms …show more content…
But what is artistic values in the eyes of a musician, and how do musician judge their perceived quality or value as works of art? Some musicians may say what they seek for is to write music that satisfies themselves and be as innovative and different as possible, some say that they should write hit songs to keep themselves on billboard and build up a huge fan base. But no matter who or why they write music for, all musicians seek for the relationship between the listeners through music by getting the support by fans, and finding people that appreciate their art or the brand image - whether it 's a financial support or …show more content…
If we will want to sort out relative importance, live performance incomes may be the most important of all, as this is where the profit share grows in the music industry in these days. One may argue touring costs money, requires constant output, and playing live is simply not part of their career structure for some musicians, but one can never deny live music is the most important part in the music industry that deals directly with music nowadays. Live performance incomes may be represented mainly by ticket sales, but also for some major high-end musicians, the scale of the tour can be used as a criteria as
Starting with the stakeholders, their main interest in the music industry is to see economic prospects and social change, which in other terms is to make profit or support the mission. For for-profit music organizations, stakeholders are in for the money, which is why they invested the company in the first place, and would like to see profit at the end of each quarter in return. The metrics they currently use are financial terms …show more content…
But what is artistic values in the eyes of a musician, and how do musician judge their perceived quality or value as works of art? Some musicians may say what they seek for is to write music that satisfies themselves and be as innovative and different as possible, some say that they should write hit songs to keep themselves on billboard and build up a huge fan base. But no matter who or why they write music for, all musicians seek for the relationship between the listeners through music by getting the support by fans, and finding people that appreciate their art or the brand image - whether it 's a financial support or …show more content…
If we will want to sort out relative importance, live performance incomes may be the most important of all, as this is where the profit share grows in the music industry in these days. One may argue touring costs money, requires constant output, and playing live is simply not part of their career structure for some musicians, but one can never deny live music is the most important part in the music industry that deals directly with music nowadays. Live performance incomes may be represented mainly by ticket sales, but also for some major high-end musicians, the scale of the tour can be used as a criteria as