4. 8.Internet File Sharing: Napster and friends 9.Multi-channel audio: DVD-Audio and SACD

5. Turn of the century Question: What are the current trends in the recorded music industry?

7. Media Industry Structure: Oligopoly The “few” selling to the many: Dominant firm oligopoly: One firm holds 50-90% of the market Tight oligopoly: Four firms hold more than 60% of the market Effective competition: More than four firms (but less than “many”) hold 60% of the market

8. Universal/NBC (United States) 2003 2004 Vividendi/Universal (France) BMG/Sony Music Group

10. Artistic Community Contracted Artists Talent Scouts Production Recording Industry Managerial Society/Culture Retail INNOVATION The production cycle of popular music Indies

11. 8. File Sharing, copyright, and profit