STRATEGIZING THE MUSIC INDUSTRY: TRENDS, PRINCIPLES AND PRIORITIES
Keywords:strategy, music industry, strategic communications system, trends
Subject: the music industry as a part of the creative economy. Goals: theoretical foundations determination of the strategy development and implementation of the music industry and its actors. Methodology: we used the methods of economic analysis, synthesis, comparison and benchmarking. For strategic analysis, the well-known concepts of strategic marketing and branding are used, as well as the methodology of strategizing by Foreign Member of the Russian Academy of Sciences (Life-time), Dr.Sc. (Econ.), Professor of Political Economy, Honored Fellow of Higher Education of the Russian Federation – title given by the President of the Russian Federation V.L.Kvint. Results: the study identifies the features of the functioning of music industry brands, substantiates the theoretical foundations of developing a strategy for music industry brands, analyzes global trends in the development of the music industry. The authors also developed a strategic communication system for a music brand. Application and conclusions: the conducted research has an applied orientation and can be used by all actors for their long-term strategic development.
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Copyright (c) 2021 Anna S. Khvorostyanaya, Gevorg N. Tevanyan
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