Music

Digitization has led to a significant shift in focus in the music industry from record companies to other players in the industry. By adopting a historical perspective, however, it becomes clear that the sale of phonograms has always been just one among a larger number of different business models. These are presented in a brief historical outline and evaluated on the basis of current data. The presentation is supplemented by two excursuses dedicated to theories on the adaptability of the music industry to changing environmental conditions and the relationship between market structures and diversity of supply.