Market Structure
The second largest music streaming platform
What is: Apple Music
Elaboration: Apple Music is the second largest music streaming platform, next to Spotify, with an approximate 15% share of the market. Collectively, all of the major streaming platforms (Spotify, Apple Music, Amazon, YouTube Music) occupy 70% of the music distribution market.
___ has replaced sales of physical media like CD's and vinyl records.
What is: streaming
The largest portion of production costs.
What is: marketing and advertising
Ways that streaming platforms compete with each other.
What are: Exclusive content & audio quality features (e.x. lossless audio in Apple Music)
Less control, but better funding, promotion, and connections.
What are: benefits of being signed to a label.
Professional editing and polishing to make music ready for streaming.
What is: mixing and mastering
64% of platform revenue comes from ___.
What are: Subscriptions
Elaboration:
Because of that, platforms compete with each other's subscription prices.
When an artist has a contract to release music on only one streaming platform.
What is: exclusivity deal
Tunecore, Distrokid, and RouteNote are examples of ___ that independent artists can pay to put their music on streaming platforms.
What is: distributors