LT4060 - Music Business Essentials (2024/25)
Module specification | Module approved to run in 2024/25 | ||||||||||||
Module title | Music Business Essentials | ||||||||||||
Module level | Certificate (04) | ||||||||||||
Credit rating for module | 15 | ||||||||||||
School | Guildhall School of Business and Law | ||||||||||||
Total study hours | 150 | ||||||||||||
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Assessment components |
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Running in 2024/25(Please note that module timeslots are subject to change) |
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Module summary
In this module you will learn the essentials of music business.
You will discover all that matters about the jobs, main tasks, enterprises, companies big and small, both major, and independent, in all areas and activities of the music business. You will understand the business of music and its relationship with fans, the bigger market and all the main business tactics in music. You will see how creative business solutions make a music product successful on the world stage. You will learn the basic functions of live, touring, events side of music together with record label operations, how it all connects to publishing, digital, streaming and start-ups in music. You will be able to see how businesses in music work for their artist, songwriter and producer clients to maximise the commercial potential of talent when signing or licensing their work. You will understand how different types of companies work with each other, how they compete and come up with effective new ideas.
You will see how companies, managers and pluggers publicise their roster, help fans discover new talent and how careers are progressed and evolve in practice. You will understand the organisation of music business and its connected sectors in entertainment, media, and communications. The module informs you about key business sectors both established and new: record labels, the live sector, the legal, financial, and publishing functions, media deals, merchandising etc. It also covers basics of streaming, digital marketing, key apps, and social media used in music, working with business ideas codes and their practical industry impact.
You will learn about the connections between business players and industry sectors.
Through this module you will be able to explain business skills central to business success in music. You will understand the main business tools used in the music and entertainment industries.
The module will also enable you to do professional industry research essential for career success.
Aims of the module:
This module aims to you to identify and prepare for a variety of career paths within the Music Business (Live, Recording, Publishing, Digital, Streaming, Media, Merchandising). It also enables you to understand how the industry links to other creative sectors, and enables you to connect to career prospects in related fields of events, marketing, media, games etc.
1. You will gain an understanding of contemporary Music Business and its creative industry environment.
2. You will be introduced to project work in Music Business and learn about the main factors improving the effectiveness of your career planning, opportunities, and new areas of creative interest.
3. You will be presented with a groundwork for advance study of the Music Industry.
4. You will be introduced to a range of key career tools and approaches needed in your career pathways and professional development.
5. You will be introduced to different key players and new markets in music entertainment.
Prior learning requirements
Available for Study Abroad? YES
Syllabus
In this module you will cover:
Business context of music within creative, entertainment and digital media LO1
Music and entertainment business career prospects LO1
A solid understanding of the job roles, practices and tools business used in music business in both market specific and generic terms LO1
Effective market and job prospect analysis for music and entertainment industries, genres and sectors; LO1
The development of music business within creative industries, focusing on key and up-and-coming professions, sectors, corporations, and new enterprises LO2
Business analysis methods and tools, applied to the context of music business, across all the key sectors and professional fields of practice LO2
Desktop research tools for market analysis with fundamental analytical skills LO2
Introducing effective methods for music industry practice, also including PR, social media and product placement for music in film, TV, games and clubbing etc. LO3
Connecting the genres, sectors, and career paths in trending employment practices LO3
Understanding music and entertainment industries in the setting of key players, jobs and areas of industry practice LO4
An introduction to the processes of production, distribution, broadcasting, streaming, promotion, market research and concrete product development in music and allied entertainment sectors LO4
Incorporating music, media, events, and other creative and interactive industries, skills, and techniques for creative business innovation like digital start-ups and indies LO4
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 focus on lecturer-facilitated workshops comprising taught materials and seminar tasks, aided by Advice/Feedback tutorials, 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.
Inclusive, student-centred, 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.
The proposed format for class delivery and class contact time 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.
Learning outcomes
Upon successful completion of this module, you will be able to:
1. Understand the key requirements of career progression, planning and management within music business and carry out industry-focused, business-aimed investigation into the key professions, career paths and sectors of Music Business and related sectors.
(Assessed in Assessment 1)
2. Understand the overall contemporary practice and teamwork in Music Business through key modern industry subjects, aided by groupwork, consulting major sources.
(Assessed in Assessment 1, 2)
3. Achieve a strong elementary knowledge of core professional attitudes in Music Business through key investigative tools, market research and business publications.
(Assessed in Assessment 2)
4. Manage to gain advantageous knowledge vital for skills development influencing major career paths and innovation opportunities that the music industry presents to you.
Assessed in Assessment 2)
Bibliography
Core text
Passman, D (2019) (10th Edition) All You Need To Know About The Music Business, Simon & Schuster
Other texts
Brabec,J & Brabec, T (2018) Music Money and Success 8th Edition: The Insider's Guide to Making Money in the Music Business: The Insider's Guide to Making Money in the Music Business (8th Edition). Schirmer Trade Books
Cooke, C (2020) Dissecting The Digital Dollar - Third Edition: The streaming music business explained and discussed, MMF
Doyle, G. (2013) Understanding Media Economics. Sage Publications
Harrison, A (2021) (8th edition) Music: The Business, Virgin Books
Hesmondhalgh, D (2018) (4th Edition) The Cultural Industries. Sage Publications
Negus, K (2013) Music Genres and Corporate Cultures. Routledge
Wikstrom, P (2019) (3rd Edition) The Music Industry: Music in the Cloud, Polity