MARKETING PROMOTION OF UNDERGROUND PERFORMERS TO THE MASS SEGMENT AS A RESULT OF THE MUSIC MARKET TRANSFORMATION UNDER THE INFLUENCE OF STREAMING PLATFORMS
Author(s): Plotnikov S.V., Sereda D.S.
Rubric: Management
DOI: 10.21777/2587-554X-2023-4-102-109
Release: 2023-4 (47)
Pages: 102-109
Keywords: music label, music market, underground, mass segment, indie music, target audience requests, streaming plat- forms, SMM promotion, monetization of a music product
Annotation: The article is devoted to the study of modern trends in the development of the global market for music products, in particular, such of its niche as underground music. The consequences of the global transformation of the music industry of show business are considered, which was caused by the digitalization of music content, the dynamic development of streaming platforms using innovative technologies for promoting a musical product by issuing recommendations to consumers based on subscriptions, as well as quantitative indicators: views, likes and comments. The article examines the role of music labels as major players in the music market during the period 1950s–2020s. Separately, the article examines the phenomenon of successful promotion of alternative music performers into the mass segment of show business, as well as the role and marketing strategies that music labels use for this. The factors that are the root cause of this phenomenon are analyzed. The factor of chang- ing taste preferences and demands of various groups of the target audience under the influence of services for promoting music content of streaming platforms is also considered. During the study, statistical, comparative and comparative-historical methods, synthesis, induction and deduction were used.
Bibliography: Plotnikov S.V., Sereda D.S. MARKETING PROMOTION OF UNDERGROUND PERFORMERS TO THE MASS SEGMENT AS A RESULT OF THE MUSIC MARKET TRANSFORMATION UNDER THE INFLUENCE OF STREAMING PLATFORMS // Economics and Management. – 2023. – № 4 (47). – С. 102-109. doi: 10.21777/2587-554X-2023-4-102-109