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1.0   
Introduction

 

This report is going to talk about how music in the creative
industry stands on its own in the UK and the Business sizes of the music
industry. It is also going to show the strengths, the weaknesses, the
opportunities and the Threats analysis of the music industry informed by the
Political, economic, social and technological factors.

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2.0   
Description
and Output of Subsector

The
creative industry is also well known as creative and cultural industries and
also the creative and digital industry within the creative economy, the word
creative industries explain businesses with creativity at their heart and the
use of imagination or original ideas to create something; inventiveness. It
also has at list 9
sub-sectors or more in the Creative Industries such as Music, Performing and
Visual arts, Film, TV, Video, Radio and Photography, Software and computer
services, Graphic and Fashion Design, Advertising and marketing, Publishing,
Museums Galleries and Libraries, Architecture, Crafts, Design Product.
(David, 2017) 

DCMS
also known as the Department for Digital,
Culture, Media & Sport helps to drive growth within rich lives to promote
Britain abroad and also help businesses and communities to grow by investing in
innovation to make Britain a good and fantastic place to visit and work it. It
gives the UK a different edge on the global stage, to strive for economic
success.  (Gov.uk, 2017) 

 

According
to (UK Music, 2017), the music industry has carefully measured the size of the
music industry and its addition to the British economy.  According to (Jon, 2017), The Music industry
increased in 2016, mainly the live music which sailed by 14 per cent that makes up £1billion in part of the
£4.4billion in the music business industry that was made for the UK economy in
2016. (Jon, 2017) Many of new jobs in the UK were created
in the music industry and its growing at a faster pace than the rest of the employment
market. It has the biggest increase 13 per cent
in the live music sector while altogether it has 19 per cent to over 142,000 jobs with just under 90,000 named as
musicians, songwriters, lyricists and composers. (Jon, 2017), (Richard,
2017) The
viewpoint for the music business is better than it has been in years
there
are some challenges that could threaten our attempts to connect the foundations
for a bigger growth. (Jon, 2017)

 

 

 

The music industry in this country is the envy of the world
because were the best per capita in the world you have to look at our
historical output from the Beatles to Rolling Stones to the new artist such as
Adele and Ed Sheeran.  Like Britpop and
punk, the British music scene has a global impact and we produced music brilliantly
well and we carried the most talented musicians would punch way above our
weight. The value of the musical industry like the core assets which
contributes 3.5 billion to the economy and exports 1.4 billion is quite
difficult to evaluate with is a huge proportion of export figures but the
actual value of British music is much bigger like contributing stuff like music
for films, music to technical stuff like YouTube.( DCMS, 2014)

2.1 Measurement
of Outputs

According to the (Creative Industries Federation, 2016), there will be an immediate impact
including the effect of businesses and the drop of sterling on planning and
artists’ fees. It will be hard to retain and recruit talents in the UK, and now
how new visas are rules will be added they will be increased costs for British
artists that are touring in the EU and for British venues that want to present
non-UK EU people. The higher education will have an impact on the finances and
global position of British of a likely cut to the number of EU students and
academics. It will be hard for people to protect their original designs and
ideas with knock-on effects for trade showcases such as London Fashion Week and
music showcases. Another thing that will be affected will be the loss of EU
funding streams which is especially important in the UK nations and other
regions. According to (UK Music, 2017), 10% of the music industry jobs hold a
passport for an EU country other than the UK while this is larger than the
estimated 7% total UK job who are from other EU countries, this was found in a
UK Music Diversity Survey in 2016. 2% of songwriters, Musicians, composers,
producers and artist managers were asked how leaving the EU would impact on
their talent in the music industry they also thought that Brexit would have a
strong impact on their chances of working, but while 50% of songwriters,
Musicians, composers, producers and artist managers was worried that leaving
the EU would have a negative impact on the music industry. (iq mag, 2017) (Music Poster here in the Appendices)

 

In the UK economy, the music industry rose 6% in 2016 to
provide £4.4 billion while last year the music industry grew almost Every sector of the
business according to the annual economic study by(UK Music, 2017) compare this
with the TV industry which is stronger than ever, creating formats and content
that are wanted by buyers over the world. The TV trading’s worth more than
£1.28bn, with no country transporting more TV formats than the UK. (Pact, 2014)
the international revenues for UK TV production companies increased by a 13.2
per-cent between 2010 and 2016 in a compound annual growth rate.  (The Creative Industries, 2017)   (TV poster here in the Appendices)

 

 

2.2
Business sizes

 

According to (Allison, 2017)
the gatekeepers for the Music industry record label are the A&R department
while the A&R departments are the most important job in the music industry
because they have to find talented musician and artist. The word A&R means
artists and repertoire, while some musicians fool around saying that A&R
means attitude and rejection. Most artists and musician go without being
discovered by A&R people, it is very hard for an artist or musician to get
signed by a major record label in nowadays.

Many musicians and artist think that the music
industry began thinking off having a two-dimensional view in the industry but
there are only one road and one gate that can lead them to the ultimate goal
(Major Label) which are the a&r. (Greg ,2012)

3.0
SWOT Analysis informed by PEST  

 

A SWOT analysis is about reviewing your strengths and
weaknesses in your industry. Then note the external opportunities and threats
that could affect the industry this will be base on your market and the overall
environment. Do not forget to give detail on the topic that you chose and
bullet points are the best way to begin jotting your ideas. Then get the key
point that you believe are relevant in each of the four areas.

 

The Strengths in the SWOT analysis you need to get a
positive attribute which is in your control. Then what are you good at, or for
a business what resources do you have that is a good advantage for your
competitions. Estimate your strengths within the areas in the department like
organisational structure, finance, manufacturing and marketing.

 

The weaknesses in the SWOT analysis you need to get the
weaknesses in your industry. The weaknesses are in areas that are not in your
control like the parts that needed to improve in the industry. Things like lack
of access to technology, lack of experience, lack of timing. This is something
that needs to be work on to improve your strengths.

The Opportunities in the SWOT analysis is the thing you see
yourself in the future such as in businesses having a growth in number of
people buying your stuff it is in your control to achieve.

The Threats in the SWOT analysis is what are the likely
threats to your industry thing that are not in your control or thing that are
in risk. (Bplanscouk, 2017)

 

 

 

3.1
Strengths

 

The Strengths in the music industry is that the artist or
the labels have the talent to produce and they also have the quality to achieve
their ideas. Having an idea of marketing and proper use of information in
technology can also be a good industry strengths. Have an awareness of the
Social Media is a huge plus to gain more fans in the industry it can also be a
plus for the British artists to build a relationship in other countries. Things
like YouTube, SoundCloud and Spotify have an online publicity for musicians
because of the Internet and it boosts their status out there and advertises it.
Another one is artist’s income in tours and merchandising.

3.2
Weaknesses

The weaknesses in the music industry are that they can be a
Bad and low-quality production in the industry and things like less purchasing
in CDs because of the illegal downloading. Another thing is overbooking in the
music industry fans do not like it when there are too many live concerts in one
area because fan base gets stretched, this can also have a problem with the
tickets prices and the venue’s prices.

Opportunities

The opportunities in the music industry is the growth of the
niche markets and new technology while artists are demanding there royalties
from radio stations an live music concerts

Threats

The threat in the music industry is that things can go wrong at any time.
The music piracy is illegally banded in the UK but this does not stop people
from downloading music illegally for free. Another thing is that some people
may not be happy with the ticket prices of concert changing

 

3.3
Political Factors 

 

According to Mark (2014), the
political side of the music industry have a new legislation allowing music fans
to make copies of legally-purchased music, the musicians and artists would find
it hard because they would get no money for the music sales. This would be
compensated by the UK music industry. (Mark, 2014)

3.4
Economic Factors

 

According to (UK music, 2017) the UK leaving the EU would
have a mix impact on Musicians, songwriters, artist managers, composers and
producers there will be an increased price of tickets for fans to see their
favourite artist on tour due to the pound decreasing by 18%. Another thing is
that there will be a big increase by 13% in the live music sector in the music
industry of jobs.

3.5
Social Factors

 

According to (Camacuk, 2017)
social media has become a platform for people to communicate and discuss their
favourite artists, songs and concerts. The music industry can provide the
artist with important information to get the fan interactions and opinions in
their songs or albums.

3.6
Technological Factors

 

According to (Hercampuscom, 2017) Technology has allowed
artists to spread the word about their music to people all over the world to
websites like Youtube, SoundCloud, Spotify and other streaming websites.

 

4.0
Summary

This report was about the sub-sector music in the creative
industry on how it holds its own in the UK. Firstly we look at how many
sub-sector they are and what does DCMS mean to music in the UK economy.
Secondly, we discuss the GVA in the music industry and the input and output.
Thirdly we discuss who are the gatekeepers in music and what do they do, follow
by the SWOT analysis in the music industry. Looking that the Strengths, the
Weaknesses, the opportunities and the threats in the industry. Fourthly, we
talk about the PEST analysis in the music industry, like what are the Political
Factors how the government regulations and legal factors have affect the music
industry. Then the Economic Factors we discuss how music will affect the music
industry. Social Factors how the social factors affect the music industry and
lastly was the Technological Factors, how the technological factors affect the
music industry.

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