Music or Hi-tech Lovers? Inferring into the Determinants of Music Consumption
AbstractUsing survey data on cultural consumption by about 650 university students, this article proposes a market segmentation and some rule-of-thumb managerial implications for the music industry. The aim is to show how technological innovation impacts on the structure of consumer preferences. Consumption behaviours, listening habits and musical preferences are explained by a large number of variables. Nevertheless it is possible to reduce this overload of information into two common factors (using factor analysis). Cluster analysis is accordingly used to group the students-consumers. The findings are then deepened in light of an econometric analysis. The analysis shows that the new digital technologies (for example file sharing) may be harmful for the music industry only within one specific group of consumers. New technologies can instead promote music consumption (especially of live music) by the other categories of consumers. By investing in music knowledge and enjoyment, it is possible to induce consumers to buy digital music legally from authorized sites.
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Bibliographic InfoArticle provided by SIE - Societa' Italiana degli Economisti (I) in its journal Rivista Italiana degli Economisti.
Volume (Year): 14 (2009)
Issue (Month): 2 (August)
Find related papers by JEL classification:
- L82 - Industrial Organization - - Industry Studies: Services - - - Entertainment; Media
- O33 - Economic Development, Technological Change, and Growth - - Technological Change; Research and Development; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes
- Z11 - Other Special Topics - - Cultural Economics - - - Economics of the Arts and Literature
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