Negotiating Value in the Music Chain
How is value created in the recording industry? What is value? Who are the participants and what are the rewards to be included? One way to approach these issues is to examine the recording industry as a value chain, where each stage of production adds to the final value, materialized as the price of the product. This approach to value does not, however, appear adequate in the case of many products and music especially. There are aspects of symbolic value at work in each stage — from consideration of the music to be produced to its consumption. It is the symbolic value that materializes as a piece of music’s success and, consequently, as its economic value — and yet the former cannot be reduced to the latter.
KeywordsMusic Industry Label Manager Record Company Recorded Music Economic Reward
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