Rockonomics: A Backstage Tour of What the Music Industry

Rockonomics: A Backstage Tour of What the Music Industry Can Teach Us about Economics and Life Alan Krueger, a former chairman of the president s Council of Economic Advisers, uses the music industry, from superstar artists to music executives, from managers to promoters, as a way in to explain key principles of economics, and the forces shaping our economic livesThe music industry is a leading indicator of today s economy it is among the first to be disrupted by the latest wave of technology, and examining the ins and outs of how musicians create and sell new songs and plan concert tours offers valuable lessons for what is in store for businesses and employees in other industries that are struggling to adaptDrawing on interviews with leading band members, music executives, managers, promoters, and using the latest data on revenues, royalties, streaming tour dates, and merchandise sales, Rockonomics takes readers backstage to show how the music industry really works who makes money and how much, and how the economics of the music industry has undergone a radical transformation during recent decadesBefore digitalization and the ability to stream music over the Internet, rock stars made much of their income from record sales Today, income from selling songs has plummeted, even for superstars like James Taylor and Taylor Swift The real money nowadays is derived from concert sales In , for example, Billy Joel earnedmillion from his live performances, and less thanmillion from record sales and streaming Even Paul McCartney, who has written and recorded number one songs than anyone in music history, today, earnspercent of his income from live concerts Krueger tackles commonly asked questions How does a song become popular And how does a new artist break out in today s winner take all economy How can musicians and everyday workers earn a living in the digital economy

10 thoughts on “Rockonomics: A Backstage Tour of What the Music Industry Can Teach Us about Economics and Life

  1. says:

    No one else could have written a book with this range Rockonomics draws on economic theory, standard government surveys, proprietary administrative data, a unique survey fielded by the author, and interviews with a range of people in the music industry It covers just about every aspect of the music industry The book

  2. says:

    Rockonomics, Alan B Krueger, 2019, 325pp, ISBN 9781524763718A light introduction to the money aspect of the music business See also Kurt Dahl, entertainment lawyer and musician advice at You Need to Know About the Music Business, Donald S Passman, 9th edition 2015, ISBN 1501104896The Economics of Music, Peter Tschmuck, 2

  3. says:

    Princeton economics professor Alan Krueger examines the music industry, hoping to demonstrate the study of economics through the prism of popular music, and hoping to draw parallels to the economy at large The result isof a book about the music business than about economics, but I wager that most readers areinterested in the

  4. says:

    I loved loved loved Rockonomics, it makes my heart break that Alan Krueger will not live to see the success this book is guaranteed to have with the general public.Yes, it s an exaggeration to say you will learn economics from this But if you re a loser like me, who knows the economics and wants to find out about the music industr

  5. says:

    Let s get one thing out of the way This is neither the sort of exhaustive coverage of recorded and performance popular music that David Byrne gave us in How Music Works, nor is it the popularization of macroeconomic theory and pop culture provided in light hearted studies such as Dubner Levitt s Freakonomics Nevertheless, it s a fun an

  6. says:

    Alan Kruger passed away earlier this year He was a prolific and widely cited Princeton economist I was most familiar with his research on minimum wage laws and their effects, but he was active in many areas Then I heard about this book, on the economics of the music business Anyone seriously interested in the music business, especially sinc

  7. says:

    Rockonomics is a somewhat frustrating read, a potentially excellent idea that isn t executed as adeptly as it could be and ultimately falls a little flat It might sound strange to say this about a book by a Princeton economics professor on the financial underpinnings of the music industry, but it s major failing is that it focuses too much on th

  8. says:

    If you are a music geek fan or if you want to knowabout music industry this a book for you If you aren tthink twice.

  9. says:

    Alan Krugers last book is indeed a doozy it answers pretty much every question one might have about the Economics of the music industry and how it relates to the overall trends our economy has been facing for the past few decades.Of Primary intrest is how artists and producers has adapted to the rise of streaming mostly by touring a lot , the winner take

  10. says:

    This is an information packed book that provides a fascinating look into the music industry which the author refers to as a winner takes all marketplace By the end of the book, one can not help but agree with him The facts are continuous There is not one copyright on music there are two An artist is paid differently for music on Youtube, Spotify, vinyl, in a c

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