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A Promising Model for the Music Business

In: The Economics of Symbolic Exchange

Author

Listed:
  • Alexander Dolgin

    (Fund for Scientific Studies)

Abstract

In 1999, when Shawn Fanning created Napster, there was a whiff of revolution in the music sector. Exchanging music files over the Internet became much easier. Purchasers found they could buy at one-fifth of the price of buying CDs in a shop. The Rio player, which accepted compressed music, had been invented and meant you could do without discs altogether. Young people were quick to take advantage. Seventy-five per cent of the price of a sound recording on disc may consist of distribution costs. When, with the coming of the Internet, Napster, and the MP3-format, popular to this day, that became avoidable, it seemed clear that the expensive discs would be uncompetitive, and that either sales would fall or their price would drop.

Suggested Citation

  • Alexander Dolgin, 2009. "A Promising Model for the Music Business," Springer Books, in: The Economics of Symbolic Exchange, chapter 0, pages 11-67, Springer.
    • Handle: RePEc:spr:sprchp:978-3-540-79883-5_1
    DOI: 10.1007/978-3-540-79883-5_1
    as

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