Rockonomics [free Read] BY Alan B. Krueger – DOC, Kindle or Book Read

Free read Rockonomics

Stars like James Taylor and Taylor Swift The real money nowadays is derived from concert sales In 2017 for example Billy Joel earned 274 million from his live performances and less than 2 million from record sales and streaming Even Paul McCartney who has written and recorded number one songs than anyone in music history today earns 80 percent of his income from live concerts Krueger tackles commonly asked uestions 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. If you are a music geekfan or if you want to know about music industry this a book for you If you aren tthink twice Devoted to Drew you are a music geekfan or if Marriage by Deception you If A Tangled Affair (The Pearl House you aren tthink twice

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Rockonomics

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 ar. No one else could have written a book with this range Rockonomics draws on economic theory standard government surveys proprietary administrative data a uniue 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 focuses on the economics of the music industry including a number of familiar themes like how streaming revenue is rising but recorded music primarily drives touring revenue how live ticket prices are set how merchandise is marketed how streaming is changing the makeup of songs and Relatively little of this was revelatory as someone who only casually follows these issues I knew most of it but all of it was definitive and authoritative A secondary purpose of the book and it is secondary notwithstanding the subtitle is to use the music industry to illustrate a number of economic concepts like superstars and ineuality the behavioral economics that leads stars to underprice their tickets for fear of sending the wrong signal the economics of incomplete contracts the endogenaity of preferences and even simple demand curves but in advertising revenueIt is hard not to linger over the references in the book to artists that died prematurely including some sympathetic references to them dying at their own hands This plus the broad range of Rockonomics makes it all the harder to accept the fact that Alan Krueger will not write another book

Alan B. Krueger · 5 Free read

E 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 super. 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 and fact filled study of how modern music shifted from physical artifacts to streaming and what that means to the business behind the star making machinery I gave it a full four stars because Krueger Obama s former chairman of the Council of Economic Advisors has taken careful note of the economics of live performance and of streaming services and has given us the only popular music economic study that covers the world beyond 2015 What Krueger tells us about popular music gives us plenty of clues as to how vertical economies in various market sectors operate as well as national economies interacting on a global levelNevertheless I m going to have to give the book two serious caveats one tactical and negligible the other strategic and in many senses a potentially fatal flaw in the book s vision On the tactical side Krueger wants to drill some fairly pedestrian concepts in to his audience who may not be familiar with economics or with pop music at all and it can make the writing a little too light and fluffy at times If you compare this to Byrne s work the Talking Heads singer remains breezy and on topic throughout his book yet introduces complex topics in less space while never talking down to his audience Krueger may have taught too many undergraduate economics courses in his life but we can forgive him some occasional moments of tediumThe bigger problem is related to the old bumper sticker produced by Adbusters magazine that said Economists must learn to subtract In this case global economists must learn to look beyond the global superstars of the music business Because Krueger has dealt with power laws and the economies of scale his entire life only those phenomena that scale exponentially interest him Yes he admits that the wild success of streaming which has surprisingly made money for even small independent artists showing up the absurdity of the few anti streaming curmudgeons out there like Lucy Kaplansky is the classical tide that rises all boats since the current rate of some 2 trillion songs being streamed a year makes it likely people will hear some very obscure artists Yet Krueger goes out of his way to dismiss or undercut the argument made by former Wired editor Chris Anderson in The Long Tail Anderson said the interesting part of a new market resides not in the top selling 5 or 10 percent but in the vast number of smaller players that make up the long tail Krueger figures that since Drake s streaming vastly outnumbers all other artists streaming the technology must favor superstars and will only consolidate the market further But he s talking about the froth at the top of the beer glass and as we all know shit floats to the topThe most important factor in the impact of popular music is not popularity but how creativity influences artists decades down the line Forty years down the line no one remembers Debby Boone or Andy Gibb but everyone remembers punk rock no wave and old school rap It s a little extreme to argue that obscurity itself is a good thing but it s important to remember that 1970s artists now considered deeply influential like Nick Drake Brian Eno and the Velvet Underground did not sell many copies of their work in that era the re releases of the 21st century sold vastly copies than the original releasesKrueger s problem is that he spends all his time talking to the promoters and managers of groups and artists like Bruce Springsteen Billy Joel and Metallica with predictable results Why not talk to the promoters who book tiny run down venues in dozens of cities or talk to the managers of uasi underground labels like Homestead Merge 4AD or Sub Pop hell the latter company has its own dedicated store in the Seattle Airport now meaning it s doing a lot better than Forever 21 Do we want to think that Krueger simply doesn t know the indie and underground hip hop worlds After all Obama spokesperson Jay Carney was a big Guided by Voices fan and Obama s playlists are none too shabby so Krueger would have to be the nerdy economist outlier in the bunch I m inclined to believe that Krueger thinks the underground is merely random fluctuations in the noise not worth considering among the superstars In this he cannot be wrong The musical artists who will be most remembered 40 or 50 years hence will be ones whose names we barely recognize todayNevertheless despite displaying some faulty logic Krueger is one of the few outside the music industry proper who understand that the CD is doomed for obsolescence in a matter of months and that vinyl records will need care and feeding to remain a viable physical artifact option He understands that streaming actually will be good for musicians both small and large and provides good advice to newcomers for preparing for a stream centric career now Now if only Krueger would turn his eyes from Drake and Cardi B and start following music that matters A Tangled Affair (The Pearl House you compare this to Byrne s work the Talking Heads singer remains breezy and on topic throughout his book Matthews Choice yet introduces complex topics in less space while never talking down to his audience Krueger may have taught too many undergraduate economics courses in his life but we can forgive him some occasional moments of tediumThe bigger problem is related to the old bumper sticker produced by Adbusters magazine that said Economists must learn to subtract In this case global economists must learn to look beyond the global superstars of the music business Because Krueger has dealt with power laws and the economies of scale his entire life only those phenomena that scale exponentially interest him Yes he admits that the wild success of streaming which has surprisingly made money for even small independent artists showing up the absurdity of the few anti streaming curmudgeons out there like Lucy Kaplansky is the classical tide that rises all boats since the current rate of some 2 trillion songs being streamed a The Prince of Pleasure (The Wilde Brothers, year makes it likely people will hear some very obscure artists Yet Krueger goes out of his way to dismiss or undercut the argument made by former Wired editor Chris Anderson in The Long Tail Anderson said the interesting part of a new market resides not in the top selling 5 or 10 percent but in the vast number of smaller players that make up the long tail Krueger figures that since Drake s streaming vastly outnumbers all other artists streaming the technology must favor superstars and will only consolidate the market further But he s talking about the froth at the top of the beer glass and as we all know shit floats to the topThe most important factor in the impact of popular music is not popularity but how creativity influences artists decades down the line Forty Hers to Protect years down the line no one remembers Debby Boone or Andy Gibb but everyone remembers punk rock no wave and old school rap It s a little extreme to argue that obscurity itself is a good thing but it s important to remember that 1970s artists now considered deeply influential like Nick Drake Brian Eno and the Velvet Underground did not sell many copies of their work in that era the re releases of the 21st century sold vastly copies than the original releasesKrueger s problem is that he spends all his time talking to the promoters and managers of groups and artists like Bruce Springsteen Billy Joel and Metallica with predictable results Why not talk to the promoters who book tiny run down venues in dozens of cities or talk to the managers of uasi underground labels like Homestead Merge 4AD or Sub Pop hell the latter company has its own dedicated store in the Seattle Airport now meaning it s doing a lot better than Forever 21 Do we want to think that Krueger simply doesn t know the indie and underground hip hop worlds After all Obama spokesperson Jay Carney was a big Guided by Voices fan and Obama s playlists are none too shabby so Krueger would have to be the nerdy economist outlier in the bunch I m inclined to believe that Krueger thinks the underground is merely random fluctuations in the noise not worth considering among the superstars In this he cannot be wrong The musical artists who will be most remembered 40 or 50 Her Small-Town Hero years hence will be ones whose names we barely recognize todayNevertheless despite displaying some faulty logic Krueger is one of the few outside the music industry proper who understand that the CD is doomed for obsolescence in a matter of months and that vinyl records will need care and feeding to remain a viable physical artifact option He understands that streaming actually will be good for musicians both small and large and provides good advice to newcomers for preparing for a stream centric career now Now if only Krueger would turn his eyes from Drake and Cardi B and start following music that matters


10 thoughts on “Rockonomics

  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 uniue survey fielded by the author and interviews with a range of people in the music indu

  2. says:

    Rockonomics Alan B Krueger 2019 325pp ISBN 9781524763718A light introduction to the money aspect of the music business See alsoKurt Dahl entert

  3. says:

    Princeton economics professor Alan Krueger examines the music industry hoping to demonstrate the study of economics through

  4. says:

    I loved loved loved Rockonomics it makes my heart break that Alan Krueger will not live to see the success this bo

  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 macroeconomi

  6. says:

    Alan Kruger passed away earlier this year He was a prolific and widely cited Princeton economist I was most familiar with his resear

  7. says:

    “Rockonomics” is a somewhat frustrating read a potentially excellent idea that isn’t executed as adeptly as it could be and ultimately fal

  8. says:

    If you are a music geekfan or if you want to know about 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 uestion 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 decadesOf Primary int

  10. says:

    A fabulous must read book that teaches you tons about business economics musicWhat’s compelling The nitty gritty details of how the business of music really works What makes money the scams scoundrels scalawags success levers inv