The music industry emerged about a century ago or in the middle of the 20th century. It is a part of the cultural economy which gives way to the sustenance of various arts. In most countries in the world music represents the creativity and cultural values. The music industry comprises of the musicians, music composers, singers and music publishers and promoters. From the past twenty years a music industry represents the economic value over the other industry by providing the employment and promoting the music in the world (Laing).
Key Components of the Music industry-
The music industry is a multifaceted industry having various components which collectively dictate the dynamics of this industry on a regional as well as on a global scale. The following is the list of the key components of a music industry.
Innovative artist such as Music composers, song writers, performers.
Music publishers and promoting companies.
Managers, agents and prompters of the artist.
Recording companies and studios.
Users of the music such as the advertisers, film producers and the consumer.
Service provider for launching the music manufactures distributor, retailer, and ticket agent and venue operator (Throsby).
Sectors of the Music Industry:
The music industry can be divided into 3 main sectors, namely:
This sector basically deals with the recording and production of music for individual artists, commercial video content and for feature films.
This sector is involved with the marketing and promotional activities of the music. The activities can include press releases, music launches, and / or online music release via app stores or social media.
“Live Events” or Performance:
This is also one of the most important sectors of the music industry which serves both as a means to gain and retain more consumers and also provides promotional activities for the artists (Laing).
Due to the various developments being witnessed in the IT realm, it has been possible to obtain music in digital formats that are easily accessible on the portable music devices. However the presence of the digital formats has exposed the music to piracy and this has severely affected the music industry on a global level. Piracy allows users to download unlimited music almost free or at very low charges which are not provided to the music production companies. This has given rise to various concerns regarding profits gained from the sale of music and the safety of the copyright of the music acquired by the companies (Digital Music Report 2012).
Music Industry trends and Analysis-
Music Industry trend and analysis are as follows-
For the 2012 global music production and distribution is expected to $28.7 decrease for the year $38.9 billion in 2007 and $52.0 in 2001.
The digital music revenue is US$5.2 billion in the 2012 which increase by the 8 % from the year 2011. And 5 % from the year 2010.
Digital channels contribution estimated 32% up from the 29% in year 2010 (Digital Music Report 2012).
Music Industry in the UAE-
UAE’s music industry is nowadays becoming a fast growing industry. With events such as the summer music festival, the music industry is set to experience a boom. Abu Dhabi is the major regional music centre in the UAE including program compiles the music theories and performance style of Western music, the Arab Peninsula, the Persian Gulf region and the Levant. Dubai is known for the radio stations, recording studios (Gulf Singers).
The Emirati music has its origins from the Persian Gulf Khaleeji tradition which exhibits a significant influence of folk music. Since the Emitrati population was primarily a desert tribe, folk music has been evident in their current musical productions (Throsby).
Key Characteristics of UAE’s Music Industry-
UAE music industry now growing gradually in terms of marketing and encouraging the new artist.
UAE music industry growing fatly there are the major events organize in the UAE since past years.
UAE now can be seems at the place of Entertainment world due to the successful major events.
In the UAE now music sustain the economic growth by the promoting the music industry (Music Industry in UAE Grows in Leaps and Bounds, 2009).
Major Challenges for the UAE and Global Music Industry-
Higher expectations of the artist in terms of financial expectations:
Artists are usually met with negotiations by the production companies regarding the percentage of profits which would be shared between them. The artists have a higher expectation in terms of sales returns while the music companies wish to retain as much profits as possible (United Arab Emirates Radio Station).
Lack of Adequate Promotional Measures –
The new or upcoming artists as well as the music companies have limited promotional measures which is complicated even further owing to the presence of stiff competition and digital piracy in the market (Music Industry in UAE Grows in Leaps and Bounds, 2009)
Difficulties in Organizing Live Concerts:
Due to the legal regulations and the complexity of the license approval process, most companies find it difficult to organize concerts and shows with most of the planned shows being postponed to a further time or date (Music Industry in UAE Grows in Leaps and Bounds, 2009).
UAE can be seen as the “Wild West”:
Radio stations don’t follow the laws and rules for using the songs and they don’t follow the system and compensate the artist. This means that artists and companies are kept away from the rightful compensation which they are entitled to receive (Music Industry in UAE Grows in Leaps and Bounds, 2009).
Overcoming piracy is one of the most crucial challenges for the music industry as this has led to the incurrence of losses of up to more than 40% of the earnings. Since it is difficult to retrieve all the illegally distributed files on the internet, the curbing of this issue is highly complex and difficult (Music Industry in UAE Grows in Leaps and Bounds, 2009).
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As we study the role of music industry have very important impact on the culture economy in a globalizing world. The music industry is the emerging sector across the world. We have analyzed that the music industry playing key role as a communicator, as a transmitter of the cultural values and as a source of economic development. Some challenges may affect the UAE music industry such as saturations for the home artist and higher expectations of international artist these affecting the cultural economy of the UAE.
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