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Music industry intermediation in the digital era and the resilience of the Majors’ oligopoly: the role of transactional capability

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  • Rémy Guichardaz
  • Laurent Bach
  • Julien Penin

Abstract

The digital revolution has significantly impacted the music industry by lowering barriers to entry. This change is usually depicted as endangering the big incumbent firms, the so-called ‘Majors’ (Universal, Sony, and Warner). Yet, market indicators show that the majors’ leadership has not declined. In part thanks to the application of a 360° business model made possible by digitization, they have been able to sustain their position. However, there is still a lack of theoretical account as well as empirical evidence for understanding how this model has been implemented by the Majors. This paper uses the concept of transactional capabilities in order to explain this switch towards 360° business model : majors have relied on a new type of competences, more oriented towards the completion of multiple transactions in parallel with heterogeneous actors. We illustrate this point with the case study of the French arm of Sony Music Entertainment.

Suggested Citation

  • Rémy Guichardaz & Laurent Bach & Julien Penin, 2019. "Music industry intermediation in the digital era and the resilience of the Majors’ oligopoly: the role of transactional capability," Industry and Innovation, Taylor & Francis Journals, vol. 26(7), pages 843-869, August.
    • Handle: RePEc:taf:indinn:v:26:y:2019:i:7:p:843-869
    DOI: 10.1080/13662716.2018.1561357
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    Cited by:

    1. Adrien Vasseur-Tremblay & Christophe M. Elie-Dit-Cosaque, 2025. "Integrating user experience into the development of company-generated content on social media: the role of affordances [Intégration de l'expérience utilisateur dans l'élaboration des contenus générés par l'entreprise sur les médias sociaux : le rô," Post-Print hal-05320080, HAL.
    2. Elia Pizzolitto, 2024. "Music in business and management studies: a systematic literature review and research agenda," Management Review Quarterly, Springer, vol. 74(3), pages 1439-1472, September.
    3. Laurent Bach & Remy Guichardaz & Eric Schenk, 2020. "Technologie Blockchain et intermédiation dans l'industrie musicale," Working Papers of BETA 2020-16, Bureau d'Economie Théorique et Appliquée, UDS, Strasbourg.
    4. Sminia, Harry & Bohn, Stephan & Sydow, Jörg, 2024. "Path release among practices in the process of path constitution: How the MP3-path appeared in the field of recorded music," Research Policy, Elsevier, vol. 53(8).

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