Executive Pay: The Curious Case of Carlos Ghosn’s Arrest
February 12, 2025
International trades between countries and across continents have existed for centuries including previous civilizations. Traditionally international trade consisted of traded goods like textile, food items, spices, precious metals, precious stones, and objects of art and various items across the borders. Everybody has heard of the silk route as well as amber road and other famous […]
Why Nations are Similar to Firms When Deciding on What to Make and What to Buy Businesses often decide on what to make themselves and what to buy from outside. Indeed, any business must first determine what its core competency is and which sector it would be based in and then, ensure that its processes, […]
Export credit agencies are quasi-government agencies. These agencies are usually backed by government institutions. This means that they are under the purview of government authorities and also have access to taxpayer funds. All developed countries in the world have created their own export credit agencies. Collectively these agencies wield a tremendous amount of influence on […]
In the year 2017, President Trump has promised the United States that he will provide unprecedented tax cuts to the people of the United States. He believes that such a tax system would stimulate economic growth and once again propel America to the pinnacle of economic success. However, he is not the only one to […]
Introduction The very essence of any business is to cater needs of customer by providing services and goods, and in process create value for customers and solve their problems. Production and operations management talks about applying business organization and management concepts in creation of goods and services. Production Production is a scientific process which involves […]
The economics of the music industry has been radically changed in the past two decades or so. Ever since the internet became a reality, music could be shared for free. The entire industry faced the onslaught of the latest developments in web technology. Companies like Napster encouraged piracy and allowed users to download and share music for free. People have essentially stopped paying for music since the 1990’s. Many business analysts thought this would be the end of the music industry. However, the industry has defied all odds and still continues to survive today. In this article, we will understand how companies survive selling a product which is free!
It is true that companies can no longer sell music to end consumers for money. However, with changing times, the industry seems to have found out new ways to monetize their product.
YouTube has allowed many youngsters to bypass the record label companies completely. Theoretically, they can place their content on the web and earn revenue from the same. However, as we all know that the web is a sea of information. Hence, gaining popularity from the web without the help of any corporation is a daunting task, to say the least.
The bottom line is that even though nobody pays to buy music in the 21st century, there is still a lot of money to be made in the music industry. The revenue from selling audio cassettes and CD’s may have been lost. However, the industry has found over a dozen new sources of revenue which compensate for the loss.
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