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The influence of politics in 2018 is no more than it was in 1971 and its effect on the music industry is no worse. 1 Nourishing the Creative Spark!® 213 W. Institute Place, Suite 403 (312) 649-4111 Phone Chicago, IL 60610 (312) 944-2195 Fax In the entertainment industry, a performer’s image is just as important as their genuine … The fashion industry has a solid record of co-opting political and countercultural movements, marginalized groups and non-Western cultures, then making a good profit out of it. Of course, this political spread introduces a rigid dichotomy of outcome for music: with more and more artists becoming spokespeople for specific sides of the political spectrum, will the fuel presented by politics prove to be a strong source of creative inspiration for new and better content or … Political and Legal factors: * Any kind of industry or firm need to sick to some rules and regulations. Photo courtesy of Fader. * Trade restrictions and changes in the tax structure will affect the industry. Reputation. The key thing to lookout for here is what will happen to the UK Pound vs Euro vs USD. How It Could Affect the Industry: If the CRB maintains or lowers the rates in favor of the digital service providers, the music industry would continue struggling with low rates of payment. At the time of the song's release in 1971, the political climate in the United States was nothing if not divisive. Also, leaving the EU would take several years to affect any foreign trade per the EU policy agreement, which requires a two year plan to exit the EU. As the women, African Americans, Native Americans, gays, lesbians and other marginalized peoples of America continued to fight for equality, much of the public raged on about its disdain for the Vietnam War while a "New Right" emerged to defend conservatism. Although recently, it seems as if more artists than ever have felt the need to express their input on American politics; as it has led many to feel, this will destroy the sacred nature of the music industry as a body built off of unity. The way in which we consume music has completely shifted. At the moment, the vinyl manufacturing is suffering from a bottleneck problem. Music, Film, TV and Political News ... talked to says that one of the scariest factors in this situation is simply the uncertainty surrounding everything. Each person has their own likes and dislikes, this allows them to be picky about the type of songs they would like to listen too. We plan to expand our business into Brazil, Ukraine, Poland and Taiwan. These political, economic, social, technological, environmental and competitive factors are represented by the acronym PESTEC. Political Factors: The United Kingdom is a constitutional monarchy that runs under the influence of a parliamentary system. This aspect of the PESTEL/PESTLE analysis considers the influence of governmental activity on the remote or macro-environment of the company. Yet music is also a large global business towards our economy. Artists are, at the base, artsy journalists tasked with spreading their opinions on the politics of the world to the public in a form we can all enjoy. While there is some validity to this claim, the truth is quite the contrary. Secondly by looking at the micro environment using Porter’s (1979) five forces model a better understanding of the industries levels profitability. Photo courtesy of Fader. For a lot of people in the music industry, this is just the harsh reality. Economic – This factor can include – economic growth, interest rates, inflation, disposable income of consumers and businesses and so on. The British government have given 196 million pounds over a period of three years to music departments within schools. Possibly the most straightforward example of this influence is the seeping of politics into the music industry. Since the beginning of the modern musical era, politics have been one of if not the most powerful catalyst for legendary musical content. A PEST analysis is a strategic business tool used by organizations to discover, evaluate, organize, and track macro-economic factors which can impact on their business now and in the future. Increasing governme… MUSIC TAXES – Is "taxing" music at the device and/or ISP level the answer? From the exploitation of skilled labor to its inability to react to and adapt to technology, these are the big issues that will face the fashion industry in 2019. A key role that UK Music performs is to promote greater understanding amongst policy makers about the music industry, providing explanations and analysis as to how their decisions will impact the sector. Notify me of follow-up comments by email. People have always bonded over the gift of music that has allowed them an escape from the stresses of life. The heart of music is the interplay of the physical and the mental, as the compromise between them forms a cohesive whole. But maybe they made the right move holding off on announcing the lineup. It is doubtful anyone would have spent $12,000 on Blink-182 and Pusha T. Your email address will not be published. Political stability of biggest markets (opportunity) 2. In this article, I’m going to have a look at some of the ways tech and social media are impacting the music industry and highlight how the three worlds collide. The first mover advantage—competitive advantage for entering the industry before other firms—for companies like Netflix was very low. Regimes as well political regulation of the pie promotional video was Bella Hadid and Kendall Jenner in bikinis within! For here is what will happen to the UK Pound vs Euro vs USD the development of policy campaigns. 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