Music Industry Analysis free essay sample

Analysis on Music Instrument Industry of Bangladesh Analysis on Music Instrument Industry of Bangladesh Submitted to: Mr. Md. Saif Noman Khan Assistant Professor Submitted by: Md. Mashrur Rahman Khan(Zr-11) (Group Leader) Contact No. 01675694513 e-mail:[emailprotected] com Sayeed Shorif Russel(Zr-08) Adib Iqbal Umit(Zr-12) Abdullah Al Muyid(Zr-18) Saif Hasan(Zr-21) Shah Shihab Sadman (Zr-27) Fahmid Shawon(Zr-28) Shamsuddin Muhammad Ishtiaque(Zr-30) Al Imran Bin Khodadad(Zr-46) Nafiz Alam Khan(Zr-47) BBA 18 Institute of Business Administration University of DhakA December 20, 2010 Mr. Saif Noman Khan Assistant Professor Institute of Business Administration University of Dhaka Dear Sir: â€Å"SUBMISSION OF TERM PAPER† It is our distinct pleasure to hand over to you our term paper that fulfills the partial requirement of the Business Communication course (C103). Being the students of Business Administration, it has been more of an opportunity for us to be able to work on this report. The knowledge and first-hand experience that we gained while going out there and collecting relevant data and the networks we made while interviewing different personnel, are undoubtedly going to prove to our advantage once we step into the corporate world. Musicians compete in a monopolistic competition. There are a fairly large number of big artists, but not a whole lot actually make it. Each artist has no feeling of interdependence and some are more successful at different times then others.As more musicians make an economic profit, more musicians are encouraged to enter, eventually eliminated economic profit. As stated In the movie, musicians are forced to create albums at retain to meet quarterly profit deadlines for their music labels. Music labels compete in an oligopoly. Five major labels controlled over 75 percent of the world market for recorded music. Now its four. These firms are mutually interdependent.Significant events that influence the markets of both these groups include people illegally downloading music from the internet, new technology being able to sell music In different ways, and more. When music was put on the Tunes store, profits started to rise for the music companies, but they were still losing a lot of money to people who share their music illegally. They even started to track down these people and arrested them. They sued and shut down various peer to peer sharing programs such as Aziza, Limier and others. My predictions for these two groups are that the music labels will continue to not make as much money as they could because with the way that people can share music files, there will never be a real way to stop people from downloading music Illegally. As for the musicians, there will always be more and more artists coming up and being the next big star. There is a never ending supply of aspiring musicians that will give the music industry a try. I would actually invest in backing a musician or a music label because I think that people will always be listening to music.Most people listen to music for a good portion of their day, whether RSI driving in the car, working, or Just relaxing. There is a need for music and people will always be willing to get their hands on It. Ay rocket For most, it seems like a pretty bad time to be part of the music industry. But what really is happening is that when you download songs for free, you dont take money away from labels and artists, you Just dont give them any. If a major label has invested in an artist/album, its generally a whole package including concerts, Manhole lot actually make it.Each artist has no feeling of interdependence and some economic profit. As stated in the movie, musicians are forced to create albums at music in different ways, and more. When music was put on the tunes store, profits people from downloading music illegally. As for the musicians, there will always be day, whether its driving in the car, working, or Just relaxing. There is a need for music and people will always be willing to get their hands on it.