In this project, through time series regression analysis I look to explain the reemergence of the recorded music industry through variables such as paid streaming subscriptions, downloads, physical sales, and lastly online video and social media advertising spending. I plan to answer the research question, “What are the most impactful factors on recorded music revenues, and where will revenues be in the near future?” This will be answered by hypothesizing that the adaptation of the recorded music industry is due to the utilizing of the digital world’s tools, instead of condemning it for piracy and illegal streams. The independent variables used will help explain the growth in total music revenue over the recent years, and they will also illustrate each variable’s impact on revenues. Through digital marketing, as well as streaming services providing a reasonable price for subscriptions, we see a huge increase in revenues over these past few years. In addition, not only will the model help determine which variables affect revenues the most, but we will also be able to predict where revenues are heading.
Matthew, Ronald, "From Physical to Digital: The Evolution of the Recorded Music Industry" (2020). Business and Economics Presentations. 11.