This course focuses on the accounting and quantitative tools of financial analysis that are used by business professionals in corporate settings and investors in private ventures. Students apply a high level of both bookkeeping and mathematical proficiency, as they apply quantitative methods of business analysis. In addition, students explore the role of money, and its many instruments, in music, including nontraditional forms of funding for talent enterprises.
This course provides an integrated analysis of the concepts, theories, viewpoints, and strategies that shape today's global leadership and management roles. Students learn about human behavior and action within the organizational setting, at both interpersonal and organizational levels. They evaluate the broad picture of management within multiple organizational settings and the global environment within which businesses operate today and into the future. They also evaluate the ways that globalization of world markets and internationalization of U.S. business influence all functions of management specific to music and entertainment industries. Additionally, students explore how ethical leadership practices affect their own professional future regardless of where they work.
This course focuses on marketing for music and other arts, and looks especially at the practices, principles and theories that guide marketing in the contemporary music industry. Students study best practices as applied by leading marketers today as well as the concepts and theories that knowingly or unknowingly guide these operations. Students explore music marketing as three overlapping areas: first, the development of an artist’s brand and imagery; second, an appreciation of the likely target market for this music and artist; and third, the marketing and promotional campaign of the artist’s recorded music. Students also learn the necessary concepts, language and tools of music marketing and gain insight into the more specialized marketing and promotional aspects studied in depth in MB-615 Digital Marketing and Social Media Management; and MB-550 Branding, Sponsorship, and Advertising.
Marketing has a significant effect on the development and dissemination of music: it sells tickets, recorded music services and products and is the key means of developing talent. This course is designed to explore a variety of perspectives so as to equip students for the challenges of exploiting, developing and marketing music-related services and products in a global market. It will equip students with the concepts, language and tools for the marketing of music and the analysis of marketing theory and practice including consideration of Borden’s 4 P’s marketing theory, customer relations management (and Solis’s Social CRM), Gladwell’s concepts of The Tipping Point and stickiness factor for music releases and newly emergent work in big data, cocreation, and open texts.
No business like show business? This course offers an economic analysis of creative industries—defined as industries that produce goods that provide artistic, cultural, or entertainment value for the consumer, including music, movie, television, sports, advertising, fashion, and video games. Students apply economic concepts to understand firms’ strategies as they evaluate, using economic reasoning and the latest trade and scholarly writings in the field. Students also analyze current events in world affairs in classroom debates about controversial issues and their effect on creative industries. The final objective is to equip students with tools and concepts that allow them to navigate these industries and anticipate emergent social, economical, or technological trends that will shape business strategies.
Through this course, students will acquire a detailed understanding of music publishing beginning with the signing of a songwriter through to the exploitation of an administered work via a synchronization license. We will look at the basics of copyright and how a music publisher handles its works in order to best monetize its catalog through print, mechanicals, performance, and licensing.
Students will also complete a detailed study of the clearance process of synchronization and the language and terms included in licensing agreements for film, television, video games and other digital media. This course will provide a comprehensive look at music licensing from the point of view of the various departments within a music publisher as well as from a music supervisor’s perspective.
This course will review the use of music in popular and current film, TV and advertising projects to look at aesthetic, artist positioning, and the relationship between the value of a song, pricing and a production’s budget. Students will acquire the knowledge and skills needed to be a music supervisor; work at a film/television studio or advertising agency’s music department, an international music publishing company, or an online media distribution company; or to start their own music publisher.
Reid Hoffman wrote, "All humans are entrepreneurs not because they should start companies but because the will to create is encoded in human DNA." Today, the average person changes jobs 13 times during his or her career. Most people will explore heterogeneous fields and industries. For this reason, it is essential to develop an entrepreneurial mindset—one that helps you reinvent yourself, remain nimble, combine existing skills, and develop new ones. In this course, students activate an entrepreneurship mindset which will not only be helpful in creating your own ventures but also in developing your career. Together, students discover and apply design thinking methodology (as developed by Tim Brown) with the purpose of imagining new business models in the field of music and entertainment. The class is structured in three sections : ideation, conceptualization, and implementation. During this creative journey, students go through the early stages of startup development: from the identification of new opportunities, conception of prototypes, collection of market data, to the development of an innovative value proposition, business model, and strategy, to respond to emerging needs of the market.
The amount of data available to organizations in the music industry has reached unprecedented levels. Data is transforming business, social interactions, and how music is consumed and artists are marketed. In this course, students examine real world examples of how analytics significantly improve management decisions, firm strategies, and artist success. Students learn the following analytical methods: linear regression, logistic regression, trees, text analytics, clustering, visualization, and optimization. Students apply data analysis and statistical concepts to evaluate artists’ and labels’ marketing strategies, using logic and strategic reasoning, as well as the latest trade and scholarly writings in the field. Students focus on three areas: data gathering (writing surveys, conducting focus groups, applying online databases and search engines, importing metrics from social media or streaming platforms); data analysis (sorting and cleaning data with spreadsheet software, visualizing statistical hypotheses, and assessing industry reports); and data usage (presenting and reporting data and analysis and effectively communicating the results). Students learn how to provide recommendations for business decisions and focus on the management and logistics of marketing programs. By emulating best global business practices and processes, students have opportunities to master an extensive vocabulary of marketing terms and concepts; apply them by creating a valuable, music-related offer; and develop a comprehensive integrated marketing communication (IMC) launch campaign. Students compile and analyze primary and secondary research, articulate research findings, and refine and align campaign costs with effectiveness.
This course explores the multidimensional relationship between music and society and its evolution in the past 150 years. Students analyze the impact of a number of different technological innovations on that relationship. They also take a look at changes in consumer tastes and consumption trends in different periods of time and the factors that motivated those changes. In additional, students study the intersection between music and the media and how that relationship has adapted to technological changes. Finally, they evaluate the impact of music itself on individuals, as well as music’s cultural dimension and the role it has played at times in channeling certain societal changes. After taking this course, students will not only have a better understanding of the central role that music has traditionally played in modern societies, but will be better prepared to adapt to current and future changes in their soon-to-be professional environment.
This course provides an integrated analysis of the structures, theories, and strategies of technology and how technology interacts with music. Because most successful companies in music are now based on robust technology platforms, an understanding of IT structures, APIs, app development, and data mining allows students to leverage such assets effectively. Students review the basic concepts behind contemporary information systems, how they can be developed, and how they could represent a key competitive asset for music perspective. They also evaluate innovative ways to implement new technologies for the distribution, recording and creation of music.
This is a seminar in which students learn interdisciplinary skills necessary to thrive in a fast-paced industry. Students explore the contemporary challenges that impact the music industry today, make predictions about future challenges, and work on solutions. Students meet with leaders and experts who will help them develop a global understanding of the industry. Students will also share in the responsibility for inviting guest presenters and organizing panel discussions with speakers of their choice, related to their professional goal.
As students complete their studies and transition to the professional world, it is important for them to assess and develop their short- and long-term goals, as well as to put in place an action plan to reach these goals. This plan requires students to reflect upon their unique proposition and to develop their personal brand. What will they offer the world and how do they develop and present that offering? Students learn to cultivate an active mindset and take responsibility for creating and pursuing opportunities for themselves. Through seminar-style discussions, peer group work, individual reflection and writing, role-playing, and individual mentoring and coaching, students come to understand their competitive value; to optimize their professional presentation; to identify their core values and explore how these values relate to their career choices; to define their strategies and next steps; and to develop as networkers, interviewers and professionals.
This course facilitates a critical discussion of new business models for the entertainment industry, with a specific focus on music. Students study new methodology for the distribution of content and the difference between entertainment as a product and entertainment as a service. Students will also review the merger of responsibilities between record labels and management companies, as well as new models for agents and do-it-yourself tools for the branding and promotion of musicians and music. The course incorporates an analysis of both entrepreneurship and the concept of disruptive innovation, and explores how existing business can adapt to changes in the marketplace.