LT4058 - Streaming Royalties and Content Revenues (2018/19)
|Module specification||Module approved to run in 2018/19|
|Module title||Streaming Royalties and Content Revenues|
|Module level||Certificate (04)|
|Credit rating for module||15|
|School||Guildhall School of Business and Law|
|Total study hours||150|
|Running in 2018/19||
This module introduces students to essential components of revenue streams for music, media, entertainment and a variety of creative-content management across the creative and cultural industries. This integrative, introductory module addresses the gap in a number of curricula across CCI courses, where there is demand for such taught content. This module and its primary and principal approach will result in establishing a sound foundation of knowledge and understanding of key principles in new revenue stream generation awarded to creative managers across a number of CCI sectors.
Some of the most notable success stories of modernisation and change come from music and entertainment industries, forming the core of this module’s curriculum. Also, a number of digital platforms, leisure formats and creative experiences, devices and services will be presented as part of this module. Students will have the freedom to choose, under Tutorial guidance, the focus of their individual enquiry and research for assessment, designed to facilitate innovative learning focusing on carefully selected examples of best practice. Understanding of creative- and experience-economies, and an ability to read commissioned market reports form important business skills which student will attain through this original module, key to Music Business Students, and relevant to a number of CCI courses beyond music.
1. To familiarise students with key concepts in creative economies and the experience economy.
2. To provide students with the basic skills of contextualising and interpretation of market reports created and completed by some leading research firms, such as Mintel.
3. To introduce students to the notion of revenue streams based on the use and monetisation of cultural, artistic, musical and design content across creative industry sectors
4. To introduce students to basic principles of revenue generation in music, media, entertainment, games, and other creative content sectors and industries.
1. What are the Creative Industries, and creative and experiential economies, and what role culture plays – a sector-focused introduction: why do we use the term ‘content’?
2. How does a sector of a creative industry generate revenue from content? An introduction to revenue stream generation.
3. What is the purpose and nature of market research in creative industries?
4. How and why does content attract revenue? An introduction to content revenue. LO2
5. What tools do creators and content owners employ ensure they will be able to generate sustained income from their work?
6. How are creators and performers paid for their work, and on what basis?
7. Who are the intermediaries – managers, curators, media editors, digital services and others - who enable artists, creators, designers or performers to generate income from the content they produce or enact?
8. Understanding the context in which different types of use across different ‘verticals’ generate money for content owners and creators.
Balance of independent study and scheduled teaching activity
The module will utilise a combination of teaching and learning methods, addressing a variety of learning styles. These include lectures, seminars, tutorials, workshops, peer- and team-study, group tasks and interactive learning. Students will be encouraged to reflect and draw on own experiences, aspirations and goals to facilitate inclusive learning. This module would be further enhanced by drawing on our special relationship with the Music Managers Forum UK, established over the years since 2012/13 and a London Met-exclusive access to MMF Training Days, led by our Hon. VP and Course Patron, Erik Nielsen who chairs the MMF Education Board. Special extracurricular sessions are planned for the masterclass delivery of Dissecting the Digital Dollar by its Author and lead MMF managers. Workshops will further draw on such top content.
Inclusive, active and collaborative learning will form the pivotal tactics for learning on this module. This will include: peer-moderated study and teamwork; the use of video, audio and online resources and VLEs; student-centred learning activities will include class interaction, problem-solving tasks and roleplay; uploading and reviewing team-based materials in ungraded formative assessment which will facilitate further class-collaboration among students.
Problem-solving activities will be facilitated by the lecturers in seminars and workshops, encouraging team effort and individual student input. Tasks in class and in preparation for classes will include research- and investigation-driven exercises utilising a variety of sources such as music business blogs, market research reports and industry trade body websites. Class interaction will form the methodological backbone of this module.
The proposed format for class delivery will consist of 3-hour workshops.
Students will be able to utilise VLEs, such as WebLearn and interact through digital media supplied this way, to facilitate independent guided learning and inquiry.
Inquiry-focused learning will form the central part of student-focused activities in class and in independent study. Students will be expected to attend all classes and do so prepared for class, this being further facilitated through tasks given between seminars and lectures on a weekly basis. Independent inquiry, research and reflection will be facilitated through the use of multiple academic and industry resources through our digital library and online sources, books and journal articles as well as news entries from leading music business publications.
Upon successful completion of this module, students will be able to:
1. Attain the basic understanding of key fundamentals in market research data, including reading and interpreting business reports in music, media, and entertainment; by doing so, they would be able to extend this core transferrable skill to a number of other related creative sectors and industries.
2. Develop the knowledge and understanding of key governing principles of creation of new revenue streams in creative industries, with special attention to the understanding of new monetisation methods and the central role of content in such procedures that enable creators and owners to benefit from their work.
Assessment will combine formative and summative methods, designed for inclusivity and feedforward constructivist loops [as per CPED Inclusive Curriculum guidelines]
Business research (individual) presentation, based on the data from Mintel UK, Statista and other cognate sources. Describing and interpreting key features of new content-driven revenues in music, entertainment, or other creative content sectors. For A1, as the initial form of assessment forming the feedforward basis for A2/LO2, students will be advised to select only one sector and/or revenue stream. Feedforward will be supplied in class and through uploaded VLE content.
Independent, individual Portfolio [Patchwork Text] report derived from self-directed enquiry and research into a core revenue stream of a noteworthy app, platform, streaming service, digital subscription channel or other CCI-business format found and identified by students with the aid and approval of ML, Partners and VPs.
The Patchwork Text will be of 1800-words’ length and will relate to key contemporary revenue matters within the Music Business and/or associated Creative and/or Entertainment industries, sectors or start-up practices.
The Patchwork Text will be underpinned by independent inquiry, research and reading.
It will consist of three 500-word components submitted through VLEs in workshops 7, 9 and 11. By week 12, students will need to upload the final edit and a 300-word overall commentary binding these 3 components together. The overall commentary will draw on students’ reflective insights relating to career choices, focusing on key issues within their chosen sector. This will help students identify which specific revenue streams would be of particular interests for their investigation.
The A2 task, utilising key skills introduced in this module’s classes/workshops, will also act as a feedforward building-block for Level 5 modules and assessments. Feedforward for A2 will be supplied in workshops following each individual submission and overall Feedforward will be made available through VLE.
Cooke, C. (2017) Dissecting the Digital Dollar. MMF
Doyle, G. (2013) Understanding Media Economics. Sage Publications
Eyal, N. (2014). Hooked: How to build habit-forming products. Penguin
Hesmondhalgh, D (2012) The Cultural Industries. Sage Publications
Hewison, R., & Holden, J. (2016). The cultural leadership handbook: how to run a creative organization. CRC Press.
Kotler, P and Armstrong, G (2017) Principles of Marketing: Global Edition, Pearson
Kagermann, H, Osterle, H & Jordan, J (2011) IT-Driven Business Models: Global Case Studies in Transformation, Wiley
Negus, K. (2013) Music Genres and Corporate Cultures. Routledge
Passman, D. (2015) All You Need to Know About the Music Business. Penguin Books
Pine, B.J. and Gilmore, J.H. (2011) The Experience Economy, Updated Edition, HBR Press
Riches, N. (2012) Music Management Bible. SMT
Todorovic, M. (2016) Rethinking Strategy for Creative Industries: Innovation and interaction. Routledge
Social Media Sources