Desintermediation Effects for VMBRD
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Presentation delivered at the Vienna Music Business Research Days
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Desintermediation Effects for VMBRD
- 1. Francisco Bernardo fbernardo@musiclovers.co School of Arts Catholic University of Portugal, R. Diogo Botelho, 1327, 4169-005 Porto, Portugal +351 226196200 Vienna Music Business Research Days 2013 – Young scholar’s workshop Disintermediation effects in the music business A return to old times? Luis Gustavo Martins lmartins@porto.ucp.pt CITAR - Research Centre for Science and Technology of the Arts School of Arts, Catholic University of Portugal, R. Diogo Botelho, 1327, 4169-005 Porto, Portugal +351 226196200
- 2. Francisco Bernardo fbernardo@musiclovers.co Background Vienna Music Business Research Days 2013 – Young scholar’s workshop • Musician • Graduate Degree in Computer Science and Systems Engineering (2006) • MSc in Mobile Systems (2009) • Master in Management for the Creative Industries (expected 2013 – writing dissertation around topic of the impact of web technologies in the business models of independent music artists)
- 3. 3 Vienna Music Business Research Days 2013 – Young scholar’s workshop Supplier Consumer Supplier Intermediary Consumer Intermediary acts as a conduit for goods or services offered by them and providing added value to the transaction. Intermediation
- 4. 4 Vienna Music Business Research Days 2013 – Young scholar’s workshop Supplier Intermediary Consumer Roles of market intermediaries • aggregate buyer demand or seller products to achieve economies of scale or scope and to reduce bargaining asymmetry • protect buyers and sellers from the opportunistic behavior of other participants in a market by becoming an agent of trust • facilitate the market by reducing operating costs • match buyers and sellers (Bailey & Bakos, 1997)
- 5. 5 Vienna Music Business Research Days 2013 – Young scholar’s workshop Causes of disintermediation • the supplier’s internalization of activities traditionally performed by intermediaries (Sarkar et al., 2006) • market transparency leads to the buyer's increased knowledge of supply pricing (Picot & Bortenlanger, 2006) • the ability of an ubiquitous communication network to support direct exchanges efficiently (Benjamin & Wigand, 1995) IntermediarySupplier Consumer
- 6. 6 Vienna Music Business Research Days 2013 – Young scholar’s workshop Reintermediation • reintroduction of an intermediary between supplier and consumer, whenever disintermediation has occurred first (Chircu and Kauffman, 1999). • reformulation, realignment and pruning of intermediaries but without total elimination (Carr, 1999) IntermediarySupplier Consumer Intermediary
- 7. 7 Vienna Music Business Research Days 2013 – Young scholar’s workshop IDR cycle • Characterizes changes in the market interactions in terms of an intermediation, disintermediation and reintermediation • strategies used in the IDR cycle for intermediaries to achieve a sustainable competitive advantage in the marketplace: • partnering for access • partnering for content • partnering for application development • technology licensing (Chircu & Kauffman, 1999)
- 8. 8 Vienna Music Business Research Days 2013 – Young scholar’s workshop The value chain of music business Music Artist Retail Record Company Distributor Consumer Fan Music Artist Consumer Fan
- 9. 9 Vienna Music Business Research Days 2013 – Young scholar’s workshop The powerhouse of the industry A&R Sales Legal Product Management New Media Marketing International Promotion Finance Production LABEL MAJOR RECORD (Adapted from Passman, 2009)
- 10. 10 Vienna Music Business Research Days 2013 – Young scholar’s workshop The disintermediation possibilities Music Artist Retail Record Company Distributor Consumer Fan Music Artist Retail Record Company Distributor Consumer Fan
- 11. 11 Vienna Music Business Research Days 2013 – Young scholar’s workshop The emergence of new intermediaries
- 12. 12 Vienna Music Business Research Days 2013 – Young scholar’s workshop Instances of disintermediation: Radiohead Extracted from http://www.wired.com/business/2007/10/radiohead-snubs/. Consulted in 2013/06/17 Music Artist Retail Record Company Distributor Consumer Fan
- 13. 13 Vienna Music Business Research Days 2013 – Young scholar’s workshop Instances of disintermediation: NIИ Music Artist Retail Record Company Distributor Consumer Fan Extracted http://royalflushmagazine.com/2008/09/12/lights-in-the-sky-over-red- rocks-nin/ Consulteed in 2013/06/17
- 14. 14 Vienna Music Business Research Days 2013 – Young scholar’s workshop The new paradigm (i) Marketing Promotion Finance Distribuition Production Direct-to-fan Management DIY Independent Contracting
- 15. 15 Vienna Music Business Research Days 2013 – Young scholar’s workshop The new paradigm (ii) (Adapted from Graham, 2006) Virtual Coordinator Artist Consumer Label Retailer Distributor
- 16. 16 Vienna Music Business Research Days 2013 – Young scholar’s workshop References • Benjamin, R., & Wigand, R. (1995). Electronic Markets and Virtual Value Chains on the Information Superhighway | MIT Sloan Management R. Sloan Management Review, 62–72. Retrieved from http://sloanreview.mit.edu/article/electronic- markets-and-virtual-value-chains-on-the- information-superhighway/ • Bailey, J. P., & Bakos, Y. (1997). An Exploratory Study of the Emerging Role of Electronic Intermediaries. International Journal of Electronic Commerce, 1(3), 7–20. • Chircu, A. M., & Kauffman, R. J. (1999). Strategies for Internet Middlemen in the Intermediation/Disintermediation/Reintermediat ion Cycle. Electronic Markets - The International Journal of Electronic Commerce and Business Media, 9(2), 109–117. • Passman, D. (2009). All You Need to Know About the Music Business (p. 512). • Carr, N. G. (1999). Hypermediation: Commerce as Clickstream. Harvard Business Review, 77, 43–47. Retrieved from http://www.nicholasgcarr.com/articlesmt/archiv es/hypermediation_commerce.shtml • Graham, Dr. Gary, “The Transformation of the Music Industry Supply Chain: A Major Label Perspective,” Manchester Business School Executive Briefing (2006). • Sarkar, M. B., Butler, B., & Steinfield, C. (2006). Intermediaries and Cybermediaries: A Continuing Role for Mediating Players in the Electronic Marketplace. Journal of Computer- Mediated Communication, 1(3). doi:10.1111/j.1083-6101.1995.tb00167.x • Picot, A., & Bortenlanger, C. (2006). An Organization of Electronic Markets: Contributions from the New Institutional Economics. The Information Society, 13(1), 107–123.
- 17. Francisco Bernardo fbernardo@musiclovers.co http://www.musiclovers.co Vienna Music Business Research Days 2013 – Young scholar’s workshop Thank you! Master in Management for the Creative Industries http://artes.ucp.pt/industriascriativas/
Notas do Editor
- Falas do tema de forma a que a tua audiência perceba o que é e porque é importante para a comunidade a que te dirigesdepois explicas as várias perspectivas que têm vindo a ser discutidas(as principais - quem são as pessoas, o que dizem e porque o dizem)e finalizas com uma conclusão que chame a atenção da tua audiencia
- Falas do tema de forma a que a tua audiência perceba o que é e porque é importante para a comunidade a que te dirigesdepois explicas as várias perspectivas que têm vindo a ser discutidas(as principais - quem são as pessoas, o que dizem e porque o dizem)e finalizas com uma conclusão que chame a atenção da tua audiencia
- Falas do tema de forma a que a tua audiência perceba o que é e porque é importante para a comunidade a que te dirigesdepois explicas as várias perspectivas que têm vindo a ser discutidas(as principais - quem são as pessoas, o que dizem e porque o dizem)e finalizas com uma conclusão que chame a atenção da tua audiencia