000 04773nam a22004575i 4500
001 978-1-4419-6318-5
003 DE-He213
005 20140220084509.0
007 cr nn 008mamaa
008 100716s2010 xxu| s |||| 0|eng d
020 _a9781441963185
_9978-1-4419-6318-5
024 7 _a10.1007/978-1-4419-6318-5
_2doi
050 4 _aHB172
072 7 _aKCC
_2bicssc
072 7 _aBUS044000
_2bisacsh
082 0 4 _a338.5
_223
100 1 _aPitt, Ivan L.
_eauthor.
245 1 0 _aEconomic Analysis of Music Copyright
_h[electronic resource] :
_bIncome, Media and Performances /
_cby Ivan L. Pitt.
264 1 _aNew York, NY :
_bSpringer New York :
_bImprint: Springer,
_c2010.
300 _aXXII, 174p.
_bonline resource.
336 _atext
_btxt
_2rdacontent
337 _acomputer
_bc
_2rdamedia
338 _aonline resource
_bcr
_2rdacarrier
347 _atext file
_bPDF
_2rda
505 0 _aEconomics of Music Copyright -- Economics of Music Copyright: Income, Media, and Performances -- Economic Analysis of Music Copyright:Music Users -- Economic Analysis of Music Copyright: Music Publishers -- Economic Analysis of Music Copyright: Songwriters and Composers -- Econometric Analysis -- Theory Review -- Estimation of Skewness, Heavy Tails, and Music Success in a Performance Rights Organization -- Economics of Songwriters’ Performance Royalty Income: Tenure, Age, and Titles -- Economics of Radio Blanket License: Format, Region, and Market Size -- Concluding Remarks.
520 _aChris Anderson's initial `Long Tail' analysis was released in 2004 just as the wave of mergers and acquisitions was sweeping the music publishing and radio industries. Music industry executives began looking for Anderson’s ‘Long Tail’ effect and with it the implied redistribution of royalty income from popular songs to long dormant and forgotten works in their catalogs. These music publishers had hoped to further maximize the value of their copyright assets (lyrics and melody) in their existing music catalogs as the sale of compact disks diminished, and consumers switched their purchasing and listening habits to new digital formats in music technology such as the iPod. This book deals with the measurement of skewness, heavy tails and asymmetry in performance royalty income data in the music industry, an area that has received very little academic attention for various reasons. For example, the pay packages, including signing bonuses, of some `superstars' in the sports world are often announced when they join a team. In the art world, the value of an artist's work is sometimes revealed when the work is sold at auction. The main reason it is difficult to study art and culture from a royalty income perspective is that most of the income data at the individual level is often proprietary, and generally not made publicly available for economic analysis. As a Senior Economist for the American Society of Composers, Authors, and Publishers (ASCAP) using both internal and licensed external proprietary data, the author found that the so-called `superstar effects' are still present in performance royalty income. Success is still concentrated on a relatively few copyright holders or members who can be grouped into `heavy tails' of the empirical income distribution in a departure from Anderson's `long tail' analysis. This book is divided into two parts. The first part is a general introduction to the many supply and demand economic factors that are related to music performance royalty payments. The second part is an applied econometrics section that provides modeling and in-depth analysis of income data from a songwriter, music publisher and blanket licensing perspective. In an era of declining income from CD album sales, data collection, mining and analysis are becoming increasingly important in terms of understanding the listening, buying and music use habits of consumers. The economic impact on songwriters, publishers, music listeners, and Performance Rights Organizations (PROs) is discussed and future business models are evaluated. The book will appeal to researchers and students in cultural economics, media and statistics as well as general readers and professionals in the music publishing industry.
650 0 _aEconomics.
650 0 _aEconomic policy.
650 0 _aMicroeconomics.
650 0 _aMass media.
650 1 4 _aEconomics/Management Science.
650 2 4 _aMicroeconomics.
650 2 4 _aMedia Management.
650 2 4 _aEconomic Policy.
710 2 _aSpringerLink (Online service)
773 0 _tSpringer eBooks
776 0 8 _iPrinted edition:
_z9781441963178
856 4 0 _uhttp://dx.doi.org/10.1007/978-1-4419-6318-5
912 _aZDB-2-SBE
999 _c110612
_d110612