Aaltodoc publication archive (Aalto University institutional repository)
School of Business | Department of Information and Service Economy | MSc program in Information and Service Management | 2016
Thesis number: 14625
Digital transformation in music industry: A multiple case study of Finnish record labels
|Title:||Digital transformation in music industry: A multiple case study of Finnish record labels|
|Year:||2016 Language: eng|
|Department:||Department of Information and Service Economy|
|Academic subject:||MSc program in Information and Service Management|
|Index terms:||musiikkiteollisuus; music industry; tietotekniikka; information technology; digitaalitekniikka; digital technology|
» hse_ethesis_14625.pdf size:2 MB (2059537)
|Key terms:||platforms, digital platforms, music industry, digitalization, IISIn|
This research studied the digital transformation in music industry of Finnish record label companies, and their utilization of ICT technology and digital platforms. Six record label representatives of top level executives were interviewed as a part of this study. All three dominant players, major record labels, were involved in this study with addition of three smaller independent record labels. The study aimed to understand what ICT technology is used in the core operations of a record label, and possibly, how they are utilizing different digital platforms and technology in their i.e. communications, when choosing the primary channels of communication to increase operational efficiency.
A literature review on the previous research was conducted on platform theories and digital platforms, followed by an industry overview and the digital transformation of music market, then leading to theoretical background of the framework used to analyze findings, description of the methodology, overview of the current market situation, explanations of the case companies and analysis of them through the findings.
The results of the study supported the previous literature related to the industry transformation and the market structure. However, the importance of sociological behavior emerged through the significance of the social media in music industry and by the way of communications of the record labels. The use of technology is on quite basic level, thus some lack of digital platform being utilized can be recognized.
As a managerial implication, the more accurate strategic mapping of the relevant stakeholder groups for the record label is recommended in order to improve communications to increase efficiency to gain competitive advantage.
This study is limited by the small sample size and relatively wide scope of a complex industry, which required substantial delimitation, and abundance of various affecting factors related to the operations of the record labels.
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