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A rewarding experience? Exploring how crowdfunding is affecting music industry business models

Gamble, Jordan, Brennan, Michael and McAdam, Rodney (2016) A rewarding experience? Exploring how crowdfunding is affecting music industry business models. Journal of Business Research, 1 . pp. 1-14. [Journal article]

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URL: http://dx.doi.org/10.1016/j.jbusres.2016.07.009

DOI: 10.1016/j.jbusres.2016.07.009

Abstract

This paper provides an exploratory study of how rewards-based crowdfunding affects business model development for music industry artists, labels and live sector companies. The empirical methodology incorporated a qualitative, semi-structured, three-stage interview design with fifty seven senior executives from industry crowdfunding platforms and three stakeholder groups. The results and analysis cover new research ground and provide conceptual models to develop theoretical foundations for further research in this field. The findings indicate that the financial model benefits of crowdfunding for independent artists are dependent on fan base demographic variables relating to age group and genre due to sustained apprehension from younger audiences. Furthermore, major labels are now considering a more user-centric financial model as an innovation strategy, and the impact of crowdfunding on their marketing model may already be initiating its development in terms of creativity, strength and artist relations.

Item Type:Journal article
Keywords:crowdfunding; business models, music industry
Faculties and Schools:Ulster Business School > Department of Management and Leadership
Ulster Business School > Department of Marketing, Entrepreneurship and Strategy
Ulster Business School
Research Institutes and Groups:Business and Management Research Institute
ID Code:35677
Deposited By: Professor Rodney McAdam
Deposited On:06 Sep 2016 09:50
Last Modified:17 Oct 2017 16:25

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