Implications of Research

Many aspects can be taken into consideration when focusing on both, developing collaborations and the music industry as a whole. Parallels can be drawn to different industries in terms of what can be learned and thereby profited on by the music industry. If the adult entertainment industry is considered, a similar downfall and decrease regarding sales and distribution because of the introduction of the Internet was experienced.

For future research, it could be interesting to oppose the two industries and explore what could be learned from each and what knowledge could be acquired. The gaming industry on the contrary has been able to apply music to such an extent in its business models and segments that it has boomed and provided a large increase in music sales on that account due to its ability to implement music in the right settings depending on the genre of games produced and constructed. Games such as Singstar and Guitar Hero have been a largely contributing factor in this sense, since music from a large number of different artists have been utilized, as well as, positioned according to country distribution. Furthermore, the gaming industry is largely incorporating soundtracks with music from actual artists on many of the games produced and distributed, rather than producing music specifically for one game.

The success obtained can very well pose as a contributing learning experience for the music industry in terms of the ability of the gaming industry to capitalize on the business models largely used.

UMD initially expressed great interest in examining how to measure the direct effect of collaborations between artists and companies. As part of our research, all respondents were asked if knowledge was retained of methods able to measure the direct effect of collaborations. Many found this perspective interesting and relevant, however, it led to no

specific method existing. Katja Moesgaard from MEC Access introduced us to the ROSE model, Return on Sponsorships and Events. Both respondents in the stakeholder group of Sonic Branding mentioned DELTA Senselab, which is an independent test laboratory specialized in performing listening tests in a variety of domains. More specifically, they focus on human perception in product development. Neither of the two models can be directly applied to collaborations to the extent of our focus. However, by combining these alongside implementing other models filling the gap, possibilities exist in terms of developing a model directly aimed at measuring and providing the necessary needed knowledge in the music industry. By exploring these models further, a step forward is taken. For further insight into each model, please see Appendix II - III.

Respondents have suggested a more extensive usage of the Internet in terms of deepening the knowledge level largely. The Internet deploys the option of measuring effect with reference to online attendance rate, time spent on a given website, the comments, and likes stated by consumers and through this retrieve an impression of sentiment. Moreover, provided is a more direct communication channel with the consumer, which generates the ability to observe a trend as well as consumer focus, which then could lead to the ability of adapting to these circumstances. To illustrate this, YouTube can be presented as an example in terms of directly being able to view the number of hits a particular video has had.

Furthermore, consumers are provided with the option of liking or disliking a video as well as sharing, which gives an overall impression of the popularity and success of it. In addition to the frontline, which is visible for all, all websites, even a Facebook page portraying an artist, has a backend that provides insight into statistical data only available for the holder of the website. This provides an indication of where improvement can be made in order to optimize the result and guarantee of satisfaction with consumers. Thus, this adds to an element worth paying more attention to and improves further about measuring the effect of collaborations.

Formalization of partnerships could also be an aspect worth observing. With this is meant creating adjustable templates as a basis for commencing collaborative processes. By using this as a tool this could limit and ease the amount of work in the initiation phase. An example could be forming model contracts, which are adjusted to the particular collaboration.

As mentioned, the music industry has been extremely slow in the process of adjusting to and embracing digitalization, however, it has prevailed in recovering what has been lost. Now record labels need to maintain their means to follow development and constantly adjust to the fast-paced progress of the industry. Much power is retained over the artists by the record labels, which is a negative conation. This means that the artists do not necessarily control the desired scope for individual achievement and as a result resign from the record labels. A further loss is the amount of creativity and knowledge, which would otherwise have been a huge gain. If the artist, largely, were involved the record labels would be able to optimize by encouraging idea generation and developing the creative platform. This could further contribute with artists not evading record labels in respect to collaboration.

7.