[PDF/EPUB] Rockonomics author Alan B. Krueger – DOC, Kindle eBook & PDF Read


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 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 risin

  2. says:

    Rockonomics Alan B Krueger 2019 325pp ISBN 9781524763718A light introduction to the money aspect of the music business See alsoKurt Dahl entertainment lawyer and musician advice at You Need to Know About the Music Business Donald S Passman 9th edition 2015 ISBN 1501104896The Economics of Music Peter Tschmuck 2017 ISBN 1911116088EXTR

  3. says:

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

  4. says:

    I loved loved loved Rockonomics it makes my heart break that Alan Krueger will not live to see the success this book is guaranteed to have with the general publicYes it’s an exaggeration to say you will learn economics from this

  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 macroeconomic theory and pop cu

  6. says:

    Alan Kruger passed away earlier this year He was a prolific and widely cited Princeton economist I was most familiar with his research on minimum wage laws and their effects but he was active in many areas Then I heard about this book on the economics of the music business Anyone seriously interested in the music business especially

  7. says:

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

  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 intrest is how artists and producers has adapted to the rise of streamin

  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 o

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read ↠ eBook or Kindle ePUB Å Alan B. Krueger

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. 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 intrest is how artists and producers has adapted to the rise of streaming mostly by touring a lot the winner take all nature of the music industry which parallels the trend in our society for the widening of the wealthIncome ineuality the importance of luck in success the importance of intellectual property rights in the creation of music and how they sometimes go too far and the uniue pricing mechanics for ticketing where of great interest to myselfThe book is also filled with than a few fun econ nuggets of information that are of interest Like did you know that since the 1990 s that the price of live shows has grown at a faster rate than the cost of Healthcare in America Did you know that on average we only spend 10 cents a day on music How about that the amount we spend on music is less than we spend on potato chipsThat kind of stuff makes this book well worth reading It s a real tragedy that Alan Kruger is no longer with us Economics has lost a truly gifted mindI recommend anyone interested to check it out if they get the chance Make your own model forts & castles 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 Tremors of Fury (The Days of Ash and Fury record sales and streaming Even Paul McCartney who has written and How Julian and Nigel Turned Each Other Gay (Inadvertently), or So They Both Claim 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. 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 The Mage (Foxcraft, Book 3) relates to the overall trends our economy has been facing for the past few decadesOf Primary intrest is how artists and producers has adapted to the Illustrated Workbook for Self-Therapy for Your Inner Critic rise of streaming mostly by touring a lot the winner take all nature of the music industry which parallels the trend in our society for the widening of the wealthIncome ineuality the importance of luck in success the importance of intellectual property Earthfall (Homecoming, rights in the creation of music and how they sometimes go too far and the uniue pricing mechanics for ticketing where of great interest to myselfThe book is also filled with than a few fun econ nuggets of information that are of interest Like did you know that since the 1990 s that the price of live shows has grown at a faster A Daddy for Christmas rate than the cost of Healthcare in America Did you know that on average we only spend 10 cents a day on music How about that the amount we spend on music is less than we spend on potato chipsThat kind of stuff makes this book well worth Banned in Britain reading It s a Hour of the Beast real tragedy that Alan Kruger is no longer with us Economics has lost a truly gifted mindI Dictionary Of Dreams recommend anyone interested to check it out if they get the chance

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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. Princeton economics professor Alan Krueger examines the music industry hoping to demonstrate the study of economics through the prism of popular music and hoping to draw parallels to the economy at large The result is of a book about the music business than about economics but I wager that most readers are interested in the business than in economics so consider that a successI may be an exception to the rule having come close to getting a doctorate in economics myself Will Baumol who is cited in this book several times was supposed to be my committee chair until I decided not to proceed with my dissertation But that was forty years ago an interval in which my career had nothing whatsoever to do with economics or musicStill I was hoping to see the application of economic theory to music I pictured a model of monopolistic competition where product differentiation in the form of signing and promoting uniue artists and genres allowed suppliers to force consumers onto the inelastic portion of their demand curves given the high utility consumers place on live and recorded music once they become fans of particular artists and stylesIf that last paragraph made your eyes and minds glaze over perhaps that explains why Krueger made the wise choice not to go there except that he does talk about how artists are positioned as uniue as imperfect substitutes for each other a key element of product differentiationUnfortunately despite devoting an entire chapter to the gratification music gives us Krueger doesn t place that within the context of consumer demand the concept of utility is in fact what underlies demand even so in the context of a experiential rather than tangible good like music The various factors that shape utility in music makes demand potentially inelastic inelastic demand allows suppliers to charge higher prices without dampening demand all that much to me that s a big part of how technology has affected pricing for live and recorded musicMuch is made of the music business being superstar driven and that s a shame because it really isn t I live in New York where there are three arenas in the area and half a dozen large concert halls so there s maybe an average of one superstar event a day plus one or two next level events And then there are dozens of small theaters and hundreds of clubs that operate Every Single Night Of the yearIn terms of the number of people performing watching and working and the amount of business activity generated if you include food and drink transportation etc I bet the superstar and next level events are a drop in the bucket In Nashville performers have to pay clubs to play People go to Chicago and New Orleans as well as Nashville and Brooklyn just to go club hopping LA Seattle Boston San Francisco Atlanta Philly Portland just go down the list the everyday music scene swamps the superstar events in sheer magnitudeSimilarly one hundred miles west of NYC in Bethlehem PA there is probably an average of one star event a month if that but there is a vibrant music scene at lower levels that translates into dozens of events each day within an easily drive able radius As an amateur musician who spends time in that area even the bottom most level open mic business that allows me to pretend to be a musician is a bigger deal than superstar concertsThe City Winery model is spreading all over the country PACs are everywhere Old theaters in relatively small cities and towns are being renovated into community theaters that mix concerts with other cultural events There are so many of these venues in my area that I can t keep track of them all Meanwhile I almost never go to an arena concert and never ever go to a stadium not with all the other choices I have not worth the hassle or cost This is a golden age for concert goers and that has nothing at all to do with superstar performersKrueger discusses literally none of this He devotes just about a whole chapter to music in China but says absolutely nothing about the grass roots live music scene that is ubiuitous in America still the largest market in the world Put together a Leontief input output model hardcore economics again I got to study and work a little with Nobel winner Leontief back in the day of the club scene showing how music radiates out into various areas of the economy via tourism food service transportation fashion etc and this is a huge possibly dominant segment of the industry that gets no attention in this bookI have one other problem with the superstar model My older daughter was in youth theater went to college for drama and my younger daughter was an elite youth soccer player now playing in college Their dreams were winning Oscars and Olympic gold But the realistic goal was easier to envision all their teachers coaches trainers choreographers etc their dream was Oscar and gold too but they found productive lives within the economy in their areas of greatest passion at other levels There is to the music industry than U2 Springsteen and Taylor Swift So much that the superstar model actually fails except at the tabloid level where a high school drama teacher and club soccer coach aren t going to compete with Bruno MarsNevertheless there is much to like about Rockonomics I especially like the sidebar interviews with industry players And I like that much of the analysis was backed up by empirical evidence and not just anecdotal evidence although the anecdotes are a lot fun anyway There is a high probability that my critiue is uniue to me and yet none of my critiues diminish what is here I only wish there was Hopefully there are economists out there ready to build on what Krueger has started

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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

  • Hardcover
  • 336
  • Rockonomics
  • Alan B. Krueger
  • en
  • 09 March 2019
  • 9781524763718

About the Author: Alan B. Krueger

Alan Bennett Krueger was an American economist