How to use bits for beats: the future strategies of music companies for using Industry 4.0 technologies in their value chain

Recent technological developments have substantially impacted on the music industry. The advent of Industry 4.0, which comprises technologies like artificial intelligence, big data, cloud computing, the Internet of things, and blockchain, has transformed the music industry value chain. Despite the significance of these changes, there is insufficient literature on how Industry 4.0 affects the entire value chain of the music industry and how music companies should adopt these changes according to their priority. This article presents findings from a study on how Industry 4.0 capabilities can alter the music industry’s value chain and how music companies should adopt these capabilities. The capabilities were identified through a literature review and semi-structured interviews with technology experts. Participants from 16 countries, who were experts in Industry 4.0 technologies, were invited to assess the impact and practicability of the capabilities using a questionnaire. The capabilities were then classified into four categories based on their scores. Finally, through an electronic brainstorming session, strategies were proposed for companies to implement each category of the capabilities.