Honors Theses

Date of Award

Spring 4-30-2020

Document Type

Undergraduate Thesis

Department

Finance

First Advisor

Bonnie Van Ness

Second Advisor

Jason Cain

Third Advisor

Dwight Frink

Relational Format

Dissertation/Thesis

Abstract

This thesis seeks to explain how streaming services have changed the way we listen to and pay for music. Furthermore, this analysis examines the perspective of consumers and artists on streaming services. Most data is obtained from various academic journals and organizations involved in the music industry. The result of this research indicates that after the financial peak of the music industry in 1999, a decline in revenues was due to emerging technology, the illegal file sharing website Napster and piracy, the industry’s response to piracy, and digital downloads. As streaming services started to emerge the shift in revenues from physical sales and digital downloads to streaming subscription revenue reversed the decline and has provided financial strength. The strength is attributed to streaming generating more money per individual than the traditional physical sales and even digital downloads. Streaming has favored both sellers and buyers, arguably growing the music industry bigger than ever before.

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