It is a great pleasure to reveal some of the Curriculum for the next Semester. Next year’s music business management studies include at least following areas. More information about the location soon.
Visiting lecturers and industry representatives are also interesting. They will be added later.
Charasteristics of International Music Management
Music business management is commonly associated with artist management, management of the artist’s business. It is, however, much more. The business models adopted by the music business are widely used in other industries. The rise of streaming brought with it a new operating environment and new ideals. This requires new skills from management. As the level of demand increases, traditional negotiation-based activities no longer achieve the desired results. In this context, management competence up-to-date is a relevant issue. The music business is the industry where technology development is most rapidly taken for industrial use. Nevertheless, the basic idea of action has remained the same. The first module deals with the basic issues specific to the field, such as active and passive income generation, management’s tasks, responsibilities, and what kind of affiliations are included in each mandate.
Copyright and Derivative
The music business is still an artist-centered operating environment. Relevant business always happens in the b-to-b sector. This is due to copyright and related (neighbouring) rights. In order to benefit from the production of performing artists and song-writers, the industry must obtain the consent of the right-holders. The second module discusses in detail the basic idea, content, derivative, and the importance of copyright in the field.
Medium of Exchange
Rights transfer instruments are contracts. Hardly any other industry has agreements that play such a key role as in business based on IPR (immaterial property rights). Without consent from rightholders, investments are unusable. This derivative also requires legal understanding. The third module presents the most important type agreements of the industry (manager agreement, agent agreement, music publishing agreement, recording agreement in various forms, and other agreements transferring rights from originators to industrial needs – to the extent that the professional manager must be aware of them.
Streaming and its impact to the Industry
Technological innovations of the 21th century brought with it a completely new music distribution channel and the associated platform for the implementation of the promotion. Although the laws are pretty much the same as 20 years ago, they are presented differently. This changed the focus areas and their indirect effects. In the past, sales of physical albums with extensive distribution networks as well as radio playing loop are now being sought for streaming services. Live business has also gone to electronic forums. The trend is from active to passive. This in turn affects consumer behavior – the new generation is increasingly going to the gigs on the internet and artists are seeking millions of people there. This module discusses the factors influencing the implementation of streaming distribution, how to get there, and the importance it has for artist and artist’s interest groups. Special attention is given to indirect effects – that is, how success in those forums is utilized in other business areas.
Strategic Social Media
Success in the music business always requires presentation. For this purpose, promotion is practiced. It happens in the spirit of time under conditions of social media. Although traditional media still have a foothold, promotional strategies require knowledge of mechanism of social media action. It is not indifferent what the artist’s metadata will be at any given time. This module reviews the interaction between content and form, but also how they should support each other. Also, tracking as a prerequisite for meaningful progression and factors affecting meaningful differentiation are presented to the extent they have an impact on the promotion.
Music and Tech
Technological advances bring with it new fields of activity and thus professional groups. Music supervisors and playlist curators are growing professional groups to name a few. Business around the synchronization as its only purpose is not rarity in the industry. The possibilities of block chain and the introduction of crypto currency are planned more every day. More and more successes are generated from the independent basis. Production is also being used in the most surprisingly contexts. This has created completely new career planning opportunities. It is not uncommon for an actor known as a performing artist to acquire a large part of income the other way as one could first imagine. This module introduces potentials of music and tech and identifies weak signals about where the future can lead.
© Mika Karhumaa and Liisa Tolonen 2019