The Music Business

Unit 27: The Music Business in the 21st Century

Unit 27: The Music Business in the 21st Century

The music business is one of the most profitable in the entertainment sector and is worth billions of pounds in the UK alone. It has a complex structure encompassing many roles, creative and otherwise. Rapid developments in music technology, coupled with the internet revolution, have had a marked effect on the industry in the 21st century, leading to a period of constant change and evolution.

The unit deals with the principles of copyright and royalties, current distribution mechanisms and different forms of copyright infringement, in particular the implications of cyberspace. It considers the structures and workings of the music business, reviewing and analysing some of the key organisations, roles and professional bodies involved. Business and management skills are examined and there is an exploration of ways in which opportunities can be identified. The unit examines the effects that developments such as globalisation and digitisation have had on the music business and explores ways in which the industry has responded to change. It leads to a working knowledge of the business and management of portfolio careers, exploring the financial, legal and organisational aspects of self-employment in the music business.

On completion of this unit, learners should demonstrate an understanding of the nature of the changing music business and its workings, from self-employment to multi-national companies. They will know how copyright and royalties work and will be able to manage a portfolio career.