(Ebook or ebook) Rockonomics by Alan B. Krueger



10 thoughts on “Rockonomics

  1. says:

    No one else could have written a book with this range Rockonomics draws on economic theory standard government surveys proprietary administrative data a uniue survey fielded by the author and interviews with a range of people in the music industry It covers just about every aspect of the music industry The book focuses on the economics of the music industry including a number of familiar themes like how streaming reven

  2. says:

    Rockonomics Alan B Krueger 2019 325pp ISBN 9781524763718A light introduction to the money aspect of the music business See alsoKurt Dahl entertainment lawyer and musician advice at You Need to Know About the Music Business Donald S Passman 9th edition 2015 ISBN 1501104896The Economics of Music Peter Tschmuck 2017 ISBN 1911116088EXTREME INEUALITYThere are millions of very able musicians who can't earn a living

  3. says:

    Princeton economics professor Alan Krueger examines the music industry hoping to demonstrate the study of economics through the prism of popular music and hoping to draw parallels to the economy at large The res

  4. says:

    I loved loved loved Rockonomics it makes my heart break that Alan Krueger will not live to see the success this book is guaranteed to have with the general publicYes it’s an exaggeration to say you will learn ec

  5. says:

    Let's get one thing out of the way This is neither the sort of exhaustive coverage of recorded and performance popular music that David Byrne gave us in How Music Works nor is it the popularization of macroeconomic theory

  6. says:

    Alan Kruger passed away earlier this year He was a prolific and widely cited Princeton economist I was most familiar with his research on mini

  7. says:

    “Rockonomics” is a somewhat frustrating read a potentially excellent idea that isn’t executed as adeptly as it could be and ultimately falls a little flat It might sound strange to say this about a book by a Princeton economics professor on the financial underpinnings of the music industry but it’s major failing is that it focuses too much on the inner machinations of the music business at the expense

  8. says:

    If you are a music geekfan or if you want to know about music industry this a book for you If you aren'tthink twice

  9. says:

    Alan Krugers last book is indeed a doozy it answers pretty much every uestion one might have about the Economics of the music industry and how it relates to the overall trends our economy has been facing for the past few dec

  10. says:

    A fabulous must read book that teaches you tons about business economics musicWhat’s compelling The nitty gritty details of how the business of music really works What makes money the scams scoundrels scalawags success le

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summary Ø eBook or Kindle ePUB ↠ Alan B. Krueger

Alan Krueger a former chairman of the president's Council of Economic Advisers uses the music industry from superstar artists to music executives from managers to promoters as a way in to explain key principles of economics and the forces shaping our economic livesThe music industry is a leading indicator of today's economy; it is among the first to be disrupted by the latest wave of technology and examining the ins and outs of how musicians create and sell new songs and plan concert tours offers valuable lessons for what is in store for businesses and employees in other industries that ar. Princeton economics professor Alan Krueger examines the music industry hoping to demonstrate the study of economics through the prism of popular music and hoping to draw parallels to the economy at large The result is of a book about the music business than about economics but I wager that most readers are interested in the business than in economics so consider that a successI may be an exception to the rule having come close to getting a doctorate in economics myself Will Baumol who is cited in this book several times was supposed to be my committee chair until I decided not to proceed with my dissertation But that was forty years ago an interval in which my career had nothing whatsoever to do with economics or musicStill I was hoping to see the application of economic theory to music I pictured a model of monopolistic competition where product differentiation in the form of signing and promoting uniue artists and genres allowed suppliers to force consumers onto the inelastic portion of their demand curves given the high utility consumers place on live and recorded music once they become fans of particular artists and stylesIf that last paragraph made your eyes and minds glaze over perhaps that explains why Krueger made the wise choice not to go there except that he does talk about how artists are positioned as uniue as imperfect substitutes for each other a key element of product differentiationUnfortunately despite devoting an entire chapter to the gratification music gives us Krueger doesn t place that within the context of consumer demand the concept of utility is in fact what underlies demand even so in the context of a experiential rather than tangible good like music The various factors that shape utility in music makes demand potentially inelastic inelastic demand allows suppliers to charge higher prices without dampening demand all that much to me that s a big part of how technology has affected pricing for live and recorded musicMuch is made of the music business being superstar driven and that s a shame because it really isn t I live in New York where there are three arenas in the area and half a dozen large concert halls so there s maybe an average of one superstar event a day plus one or two next level events And then there are dozens of small theaters and hundreds of clubs that operate Every Single Night Of the yearIn terms of the number of people performing watching and working and the amount of business activity generated if you include food and drink transportation etc I bet the superstar and next level events are a drop in the bucket In Nashville performers have to pay clubs to play People go to Chicago and New Orleans as well as Nashville and Brooklyn just to go club hopping LA Seattle Boston San Francisco Atlanta Philly Portland just go down the list the everyday music scene swamps the superstar events in sheer magnitudeSimilarly one hundred miles west of NYC in Bethlehem PA there is probably an average of one star event a month if that but there is a vibrant music scene at lower levels that translates into dozens of events each day within an easily drive able radius As an amateur musician who spends time in that area even the bottom most level open mic business that allows me to pretend to be a musician is a bigger deal than superstar concertsThe City Winery model is spreading all over the country PACs are everywhere Old theaters in relatively small cities and towns are being renovated into community theaters that mix concerts with other cultural events There are so many of these venues in my area that I can t keep track of them all Meanwhile I almost never go to an arena concert and never ever go to a stadium not with all the other choices I have not worth the hassle or cost This is a golden age for concert goers and that has nothing at all to do with superstar performersKrueger discusses literally none of this He devotes just about a whole chapter to music in China but says absolutely nothing about the grass roots live music scene that is ubiuitous in America still the largest market in the world Put together a Leontief input output model hardcore economics again I got to study and work a little with Nobel winner Leontief back in the day of the club scene showing how music radiates out into various areas of the economy via tourism food service transportation fashion etc and this is a huge possibly dominant segment of the industry that gets no attention in this bookI have one other problem with the superstar model My older daughter was in youth theater went to college for drama and my younger daughter was an elite youth soccer player now playing in college Their dreams were winning Oscars and Olympic gold But the realistic goal was easier to envision all their teachers coaches trainers choreographers etc their dream was Oscar and gold too but they found productive lives within the economy in their areas of greatest passion at other levels There is to the music industry than U2 Springsteen and Taylor Swift So much that the superstar model actually fails except at the tabloid level where a high school drama teacher and club soccer coach aren t going to compete with Bruno MarsNevertheless there is much to like about Rockonomics I especially like the sidebar interviews with industry players And I like that much of the analysis was backed up by empirical evidence and not just anecdotal evidence although the anecdotes are a lot fun anyway There is a high probability that my critiue is uniue to me and yet none of my critiues diminish what is here I only wish there was Hopefully there are economists out there ready to build on what Krueger has started Banned in Britain result is of a book about the music business than about economics but I wager that most Hour of the Beast readers are interested in the business than in economics so consider that a successI may be an exception to the Dictionary Of Dreams rule having come close to getting a doctorate in economics myself Will Baumol who is cited in this book several times was supposed to be my committee chair until I decided not to proceed with my dissertation But that was forty years ago an interval in which my career had nothing whatsoever to do with economics or musicStill I was hoping to see the application of economic theory to music I pictured a model of monopolistic competition where product differentiation in the form of signing and promoting uniue artists and genres allowed suppliers to force consumers onto the inelastic portion of their demand curves given the high utility consumers place on live and The Love of a Latino recorded music once they become fans of particular artists and stylesIf that last paragraph made your eyes and minds glaze over perhaps that explains why Krueger made the wise choice not to go there except that he does talk about how artists are positioned as uniue as imperfect substitutes for each other a key element of product differentiationUnfortunately despite devoting an entire chapter to the gratification music gives us Krueger doesn t place that within the context of consumer demand the concept of utility is in fact what underlies demand even so in the context of a experiential Other Days, Other Eyes rather than tangible good like music The various factors that shape utility in music makes demand potentially inelastic inelastic demand allows suppliers to charge higher prices without dampening demand all that much to me that s a big part of how technology has affected pricing for live and Deception Island recorded musicMuch is made of the music business being superstar driven and that s a shame because it The Family really isn t I live in New York where there are three arenas in the area and half a dozen large concert halls so there s maybe an average of one superstar event a day plus one or two next level events And then there are dozens of small theaters and hundreds of clubs that operate Every Single Night Of the yearIn terms of the number of people performing watching and working and the amount of business activity generated if you include food and drink transportation etc I bet the superstar and next level events are a drop in the bucket In Nashville performers have to pay clubs to play People go to Chicago and New Orleans as well as Nashville and Brooklyn just to go club hopping LA Seattle Boston San Francisco Atlanta Philly Portland just go down the list the everyday music scene swamps the superstar events in sheer magnitudeSimilarly one hundred miles west of NYC in Bethlehem PA there is probably an average of one star event a month if that but there is a vibrant music scene at lower levels that translates into dozens of events each day within an easily drive able The First Partition of Poland radius As an amateur musician who spends time in that area even the bottom most level open mic business that allows me to pretend to be a musician is a bigger deal than superstar concertsThe City Winery model is spreading all over the country PACs are everywhere Old theaters in The Hero of Varay relatively small cities and towns are being Palestrina and Other Plays renovated into community theaters that mix concerts with other cultural events There are so many of these venues in my area that I can t keep track of them all Meanwhile I almost never go to an arena concert and never ever go to a stadium not with all the other choices I have not worth the hassle or cost This is a golden age for concert goers and that has nothing at all to do with superstar performersKrueger discusses literally none of this He devotes just about a whole chapter to music in China but says absolutely nothing about the grass Blackmailed By Daddy roots live music scene that is ubiuitous in America still the largest market in the world Put together a Leontief input output model hardcore economics again I got to study and work a little with Nobel winner Leontief back in the day of the club scene showing how music उरलं सुरलं [Urla Surla] radiates out into various areas of the economy via tourism food service transportation fashion etc and this is a huge possibly dominant segment of the industry that gets no attention in this bookI have one other problem with the superstar model My older daughter was in youth theater went to college for drama and my younger daughter was an elite youth soccer player now playing in college Their dreams were winning Oscars and Olympic gold But the Cock Tales realistic goal was easier to envision all their teachers coaches trainers choreographers etc their dream was Oscar and gold too but they found productive lives within the economy in their areas of greatest passion at other levels There is to the music industry than U2 Springsteen and Taylor Swift So much that the superstar model actually fails except at the tabloid level where a high school drama teacher and club soccer coach aren t going to compete with Bruno MarsNevertheless there is much to like about Rockonomics I especially like the sidebar interviews with industry players And I like that much of the analysis was backed up by empirical evidence and not just anecdotal evidence although the anecdotes are a lot fun anyway There is a high probability that my critiue is uniue to me and yet none of my critiues diminish what is here I only wish there was Hopefully there are economists out there Son of the Hero ready to build on what Krueger has started

review Rockonomics

Rockonomics

E struggling to adaptDrawing on interviews with leading band members music executives managers promoters and using the latest data on revenues royalties streaming tour dates and merchandise sales Rockonomics takes readers backstage to show how the music industry really works who makes money and how much and how the economics of the music industry has undergone a radical transformation during recent decadesBefore digitalization and the ability to stream music over the Internet rock stars made much of their income from record sales Today income from selling songs has plummeted even for super. I loved loved loved Rockonomics it makes my heart break that Alan Krueger will not live to see the success this book is guaranteed to have with the general publicYes it s an exaggeration to say you will learn economics from this But if you re a loser like me who knows the economics and wants to find out about the music industry you re in for a treat The author was basically friends with all these people who work in music and they told him how their industry worksThe summary is as follows it pays nothing except to literally a handful of artists who benefit from two facts that make this a superstar market first scale you can reach many people and second they are uniue they would regardless be financially better off as superstars in any other business you care to name because for the benefits it gives us music is dirt cheap music is totally insignificant as an industry both in terms of total income generated USD 15 billion per annum in the US and comfortably under 50 worldwide and in terms of percent of population employed than half the money is made from live performances because recorded music CDs downloads and streaming these days brings very little compared to what it did before music became digital and is often a loss leader Apple for example uses it to sell gadgets studios bet on artists but not even two out of ten albums produced ever made money pundits thought the new technology would make it so the market for music would become less concentrated and diversified and the shape of the distribution would tilt away from superstars p 93 we re still waiting that s because to succeed you of course need talent determination etc but chiefly you need luck you need luck because success in music has always been impossible in the absence of large snowball effects and music these days spreads through social media which are all about measuring these snowball effects in real time and jumping on them should you get lucky enough to score a hit you need a manager to negotiate with the studios and to keep your costs down and maybe even to get you a bunch of revenue streams on top of your live performance revenues to price discriminate among your fans to sell some merch short for merchandise etc you ll need a lawyer to negotiate your rights which by the way are very complicated and uneven from country to country and from medium to medium within each country intellectual rights to music are justified on the basis of three or less sound economic arguments but Krueger actually says fairness and justice for the people who make the music is an even bigger reason to give them the rights to music they d probably make for free and in the absence of any copyright laws that said copyright laws do result in and better music and there are economic studies to prove this the converse also holds with very little music of note coming out of countries that do not protect musicians who is Drake and why have I never heard of him China the only boring chapterBut it ain t about that at allI m doing the book a grand disservice by merely listing the main points because Rockonomics actually isn t about these points Rather they are the background noise the author s hyperactive brain is making as he s taking you on tour That s what s going on here As you re reading it you re basically touring the music industry alongside Alan Krueger interviewing all these artists who are his friends and jumping from cool trivia to cool observationComfortably the best part is trying to identify song titles in the text It s highly possible that every line in the book is plucked from a song My rather obvious favorite is on page 170 Won t spoil it for you The Fatima Century revenues Leah Starrs Revenge royalties streaming tour dates and merchandise sales Rockonomics takes Pieces 8 (Pieces, readers backstage to show how the music industry Time Flies and Other Short Plays really works who makes money and how much and how the economics of the music industry has undergone a Fall (VIP Book 3) (English Edition) radical transformation during Drawing Dead (Faolan OConnor Book 1) recent decadesBefore digitalization and the ability to stream music over the Internet Trails & Tales of Yosemite & the Central Sierra rock stars made much of their income from Chinas Son record sales Today income from selling songs has plummeted even for super. I loved loved loved Rockonomics it makes my heart break that Alan Krueger will not live to see the success this book is guaranteed to have with the general publicYes it s an exaggeration to say you will learn economics from this But if you Welcome to the Desert of the Real re a loser like me who knows the economics and wants to find out about the music industry you Dead End Bluff re in for a treat The author was basically friends with all these people who work in music and they told him how their industry worksThe summary is as follows it pays nothing except to literally a handful of artists who benefit from two facts that make this a superstar market first scale you can King Noah Blindness and the Vision of Seers reach many people and second they are uniue they would Princess to Pleasure Slave Chronicles (Book Three): Lusty Prey of the Huntress (English Edition) regardless be financially better off as superstars in any other business you care to name because for the benefits it gives us music is dirt cheap music is totally insignificant as an industry both in terms of total income generated USD 15 billion per annum in the US and comfortably under 50 worldwide and in terms of percent of population employed than half the money is made from live performances because Factory of Death recorded music CDs downloads and streaming these days brings very little compared to what it did before music became digital and is often a loss leader Apple for example uses it to sell gadgets studios bet on artists but not even two out of ten albums produced ever made money pundits thought the new technology would make it so the market for music would become less concentrated and diversified and the shape of the distribution would tilt away from superstars p 93 we Thirteen Plus One (The Winnie Years, re still waiting that s because to succeed you of course need talent determination etc but chiefly you need luck you need luck because success in music has always been impossible in the absence of large snowball effects and music these days spreads through social media which are all about measuring these snowball effects in Rapid Math Without A Calculator real time and jumping on them should you get lucky enough to score a hit you need a manager to negotiate with the studios and to keep your costs down and maybe even to get you a bunch of Almost Late for School revenue streams on top of your live performance Seduced by My Doms (The Doms of Genesis, revenues to price discriminate among your fans to sell some merch short for merchandise etc you ll need a lawyer to negotiate your The Certainty of Violet and Luke (Volume 5) rights which by the way are very complicated and uneven from country to country and from medium to medium within each country intellectual Kane Richards Must Die rights to music are justified on the basis of three or less sound economic arguments but Krueger actually says fairness and justice for the people who make the music is an even bigger Astaroth et Bernadette reason to give them the M-am săturat să fiu prost rights to music they d probably make for free and in the absence of any copyright laws that said copyright laws do Love in the Light (Hearts in Darkness, result in and better music and there are economic studies to prove this the converse also holds with very little music of note coming out of countries that do not protect musicians who is Drake and why have I never heard of him China the only boring chapterBut it ain t about that at allI m doing the book a grand disservice by merely listing the main points because Rockonomics actually isn t about these points Rather they are the background noise the author s hyperactive brain is making as he s taking you on tour That s what s going on here As you The Art of DOOM: Eternal re The Protestant Temperament reading it you Some Kind of Wonderful re basically touring the music industry alongside Alan Krueger interviewing all these artists who are his friends and jumping from cool trivia to cool observationComfortably the best part is trying to identify song titles in the text It s highly possible that every line in the book is plucked from a song My Cabin 28 rather obvious favorite is on page 170 Won t spoil it for you

summary Ø eBook or Kindle ePUB ↠ Alan B. Krueger

Stars like James Taylor and Taylor Swift The real money nowadays is derived from concert sales In 2017 for example Billy Joel earned 274 million from his live performances and less than 2 million from record sales and streaming Even Paul McCartney who has written and recorded number one songs than anyone in music history today earns 80 percent of his income from live concerts Krueger tackles commonly asked uestions How does a song become popular And how does a new artist break out in today's winner take all economy How can musicians and everyday workers earn a living in the digital economy. If you are a music geekfan or if you want to know about music industry this a book for you If you aren tthink twice