An Analysis of Economic Trends in U.S. Music Industry Capitals: 1995-2003, with Implications for Music Industry Education 

Frederick J. Taylor

Georgia State University

Phillip A. Terrell

Alabama State University

Abstract

Regarding the current health of the music industry, representative organizations like The Recording Industry Association of America and trade publications such as Billboard have used an alarming decrease in sales from 2000 to 2003 to strengthen their opinions and forecasts on its future. Historically, external factors such as the overall state of the economy, broadcasting industry, and the development of new technologies have also significantly affected the health of the music industry. To prove that the health of the music industry is not solely dependent on sales, the authors examine data related to the growth of its sub-sectors from 1995 to 2003. These sub-sectors, such as artist management, live entertainment, and music publishing, were found to have enjoyed healthy growth in the five major U.S. music industry cities examined in the study. This, the authors argue, indicates that the music industry is merely undergoing a period of decentralization and restructuring. As a result, the authors call for a comprehensive re-focusing of music business education on developing skills that translate across multiple mediums and preparing students for entrepreneurially-driven career paths.

Keywords: decentralization, music business education, music industry, recorded music sales, music industry careers, music industry curriculum, transferable skills, entrepreneurship

Taylor, Frederick J., and Phillip A. Terrell. “An Analysis of Economic Trends in U.S. Music Industry Capitals: 1995-2003, with Implications for Music Industry Education." Journal of the Music and Entertainment Industry Educators Association 4, no. 1 (2004): 105-135. https://doi.org/10.25101/4.6

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