20809 - TWO-SIDED MARKETS IN ENTERTAINMENT: THE CASE OF MUSIC
Department of Marketing
Course taught in English
Go to class group/s: 31
Course Director:
ANDREA ORDANINI
ANDREA ORDANINI
Mission & Content Summary
MISSION
Markets for creative goods (e.g., movies, music, games) are characterized by a specific complex structure and peculiar working mechanisms. From an economic standpoint, they work as two-sided markets, in which the majority of players often serve two types of customers: a consumer base that consumes the creative output, and business clients that use the creative markets to promote their products. The complexity of this model lies in the fact that the two sides of the market are interdependent, and that the advent of digital technologies multiplied the sources of this interdependence.
Music industry is the epitome of the two-sided market model: traditional gatekeepers such as labels or radio broadcasters target consumers of music but also serve brands that want to sponsor music content to reach their audience; streaming platforms provide curated consumption experiences but also host advertising content to support their freemium models; new digital platforms (Tik Tok, Twitch) generate viral content to consumers but also represent powerful social contagion channels for promotional activities.
The course aims to explain the principles of the two-sided market model and provide the students with their application in the context of the music industry. At the end of the course, students will be equipped with novel managerial skills to navigate these complex market settings.
CONTENT SUMMARY
The course will start by outlining the working mechanisms of the two-sided market models and then provide a throrough analysis of such mechanisms in the context of the music industry.
1 - Two-sided markets: principles and mechanisms
2 - Music industry as a prototypical two-sided market
3 - Hedonic quality and social contagion in music consumption
4 - Short vs. long term success in the music market
5 - Brand promotion and targeting through music
6 - Music as a channel/tool (vs. content): breaking sectorial boundaries
Intended Learning Outcomes (ILO)
KNOWLEDGE AND UNDERSTANDING
At the end of the course student will be able to...
- Conceptually illustrate and analyze a two-sided market model
- Empirically recognize and identify the two-sided market principles in the context of the music industry
- Practically apply the two-sided market principles to take stragegic decision making in the music industry (and other similar creative industries)
APPLYING KNOWLEDGE AND UNDERSTANDING
At the end of the course student will be able to...
- Identify and understand the working principles of a two-sided market model
- Learn how the music industry operates on the basis of the two-sided market principles
- Properly handle the key managerial issues for music players, associated to the two-sided market principles
Teaching methods
- Lectures
- Guest speaker's talks (in class or in distance)
- Collaborative Works / Assignments
DETAILS
In addition to face-to-face lectures, this course includes:
- Guest lectures: managers working in music and other creative industries operating as two-sided markets will be invited to share with the students their concrete experience on the topic of the course, to help students' sensemaking;
- Case studies on companies operating in the two-sided music market will be discussed to appreciate the intricacies of the two-sided market model and the managerial tools learned in the course;
- Case-group assignments: students will gather in groups since the beginning of the course, and engage in a real analysis of a two-sided market critical issue, that they have to address and present its solution to the class
Assessment methods
| Continuous assessment | Partial exams | General exam | |
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x |
ATTENDING STUDENTS
A project groupwork on a task specified at the beginning of the course, which will also be presented, accounts for max 13 points (42% of the total grade). The remaining 18 points (58% of the total grade) will be assigned on the basis of the outcome of a partial exam only covering the parts of the readings discussed in class
NOT ATTENDING STUDENTS
Only a general exam that includes both open-ended questions and multiple-choice questions on the whole content of all the readings included in the syllabus. 31 points out of the 31 possible points (100% of the grade) will be assigned on the basis of the outcome of this general exam
Teaching materials
ATTENDING STUDENTS
Only the parts of the readings included in the syllabus that will be discussed in class and the slides uploaded on Blackboard
NOT ATTENDING STUDENTS
The whole content of the readings included in the syllabus and the slides uploaded on Blackboard
Last change 20/11/2024 17:58