A rewarding experience? Exploring how crowdfunding is affecting music industry business models

Gamble, Jordan Robert ORCID: 0000-0002-8837-8264, Brennan, Michael and McAdam, Rodney (2017) A rewarding experience? Exploring how crowdfunding is affecting music industry business models. JOURNAL OF BUSINESS RESEARCH, 70. pp. 25-36.

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Abstract

This paper provides an exploratory study of how rewards-based crowdfunding affects business model development for music industry artists, labels and live sector companies. The empirical methodology incorporated a qualitative, semi-structured, three-stage interview design with fifty seven senior executives from industry crowdfunding platforms and three stakeholder groups. The results and analysis cover new research ground and provide conceptual models to develop theoretical foundations for further research in this field. The findings indicate that the financial model benefits of crowdfunding for independent artists are dependent on fan base demographic variables relating to age group and genre due to sustained apprehension from younger audiences. Furthermore, major labels are now considering a more user-centric financial model as an innovation strategy, and the impact of crowdfunding on their marketing model may already be initiating its development in terms of creativity, strength and artist relations.

Item Type:	Article
Uncontrolled Keywords:	Rewards-based crowdfunding, Business model, Music industry, Financial model, User-centric, Innovation
Divisions:	Faculty of Humanities and Social Sciences > School of Management
Depositing User:	Symplectic Admin
Date Deposited:	06 Jan 2023 15:26
Last Modified:	06 Jan 2023 15:26
DOI:	10.1016/j.jbusres.2016.07.009
Related URLs:	Author Publisher
URI:	https://livrepository.liverpool.ac.uk/id/eprint/3166896