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Competition for attention in the digital age: The case of single releases in the recorded music industry

Author

Listed:
  • Essling, Christian
  • Könen, Johannes
  • Peukert, Christian

Abstract

In markets with long tails and thousands of products, like recorded music, consumers cannot possibly be aware of every product. We analyze how record labels use single releases as a strategic instrument to attract consumer attention in a competitive environment. In particular, we study how the advent of digitization has changed firm strategy. In accordance with predictions from a simple theoretical model, we show that record labels release more singles with shorter intervals in between when facing greater competitive pressure. We show that this effect is stronger in the digital age. With individual songs becoming readily available (forced unbundling), the attention generation motive becomes predominant and single releases more closely resemble a form of advertising.

Suggested Citation

  • Essling, Christian & Könen, Johannes & Peukert, Christian, 2017. "Competition for attention in the digital age: The case of single releases in the recorded music industry," Munich Reprints in Economics 49913, University of Munich, Department of Economics.
    • Handle: RePEc:lmu:muenar:49913
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    Cited by:

    1. Mario Coccia, 2020. "Cyclical phenomena in technological change," Papers 2010.03168, arXiv.org, revised Oct 2020.
    2. Hiller R. Scott & Walter Jason M., 2017. "The Rise of Streaming Music and Implications for Music Production," Review of Network Economics, De Gruyter, vol. 16(4), pages 351-385, December.
    3. Christian Peukert & Margaritha Windisch, 2023. "The Economics of Copyright in the Digital Age," CESifo Working Paper Series 10687, CESifo.
    4. Daniel Kaimann & Ilka Tanneberg & Joe Cox, 2021. "“I will survive”: Online streaming and the chart survival of music tracks," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 42(1), pages 3-20, January.
    5. Alagöz, Nazli, 2024. "Promotion and technological change in the music industry," Other publications TiSEM 511ceba0-62a0-4c60-a76c-f, Tilburg University, School of Economics and Management.
    6. Erdem Dogukan Yilmaz & Ivana Naumovska & Milan Miric, 2023. "Does imitation increase or decrease demand for an original product? Understanding the opposing effects of discovery and substitution," Strategic Management Journal, Wiley Blackwell, vol. 44(3), pages 639-671, March.

    More about this item

    JEL classification:

    • L82 - Industrial Organization - - Industry Studies: Services - - - Entertainment; Media
    • M37 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Marketing and Advertising - - - Advertising
    • D83 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Search; Learning; Information and Knowledge; Communication; Belief; Unawareness

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