Big Data and its Effect on the Music Industry

Abstract

This research discusses the effect of big data and Internet technologies on the music industry. Specifically, this paper addresses two research questions; (1) how do modern businesses in the music industry implement the use of Internet technologies and big data to ensure their success in the market, and (2) what are the advantages and drawbacks of implementing digital business models in the music industry? To answer the research questions, two real-life cases (i.e. Shazam and Spotify) were analyzed to show how modern businesses in the music industry implement big data and Internet technologies to ensure their success in the market. Furthermore, previous literature and secondary resources were used to explain the development of traditional business models into digital business models in the music industry. In addition to discussing the benefits and drawbacks of implementing the modern digital business model.