An investigation into the strategic response of artists in the contemporary music industry

Purpose/aims: The purpose of this study is to investigate the strategic response of artists in the contemporary music industry, while examining the nature and importance of an organisational strategy. The aim of this study is gain fuller understanding of the measures taken for artists to compete in a market that is hypercompetitive due to the digitalisation while contributing to an area of research that has not been investigated in the past. Design/Methodology/Approach: Data was collected through semi-structured interviews with five participants operating in various roles and genres in the European music industry. To improve reliability and validity research was taken from an array of industry experts across various functions. Data analysis was executed in which key themes appeared which were contrasted against the existing literature which led to verified conclusions. Findings: Strategy was found to be an essential element to artists operating in the contemporary music industry. Changes in the business environment mean that artists are constantly having to adapt their strategies to demonstrate that they are still relevant in the industry. Due to the increased competition there is a huge pressure for artists to use innovation and strategy in order to achieve a sustainable competitive advantage in ways that did not exist pre-digital. This will continue to change with technology advancements causing further disruption to the music industry which only stresses the importance of innovation and strategy. Research Limitations/Implications: The research was limited to the participants who were involved in the study. This means that the study is limits the generalizability of the findings due to geographical constraints and limited genres involved in the study. Repeating the study in other geographical areas and across different genres of music could serve to help the generalizability of this study. Originality/Value: This study is the first to investigate the strategy adopted by artists in the contemporary music industry. Key Words: Strategy, Competitive Advantage, Change, Innovation, Music Industry, Social Media, Streaming Paper Type: Research Pape