Cultural And Creative Industries Spotify Case Analysis Research Paper (Research Paper Sample)

Cultural and Creative Industry: Spotify
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Contents
 TOC \o "1-3" \h \z \u  HYPERLINK \l "_Toc23849460" Introduction  PAGEREF _Toc23849460 \h
3
 HYPERLINK \l "_Toc23849461" Spotify History  PAGEREF _Toc23849461 \h
3
 HYPERLINK \l "_Toc23849462" Literature Review of the Music Industry  PAGEREF _Toc23849462 \h
4
 HYPERLINK \l "_Toc23849463" Defining the music industry  PAGEREF _Toc23849463 \h
5
 HYPERLINK \l "_Toc23849464" The significance of music industry  PAGEREF _Toc23849464 \h
7
 HYPERLINK \l "_Toc23849465" Five Forces Analysis of The Industry  PAGEREF _Toc23849465 \h
8
 HYPERLINK \l "_Toc23849466" Quantitative Analysis of The Market  PAGEREF _Toc23849466 \h
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 HYPERLINK \l "_Toc23849467" The Market Statistics forSpotify  PAGEREF _Toc23849467 \h
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 HYPERLINK \l "_Toc23849468" Qualitative Analysis  PAGEREF _Toc23849468 \h
15
 HYPERLINK \l "_Toc23849469" Conclusion  PAGEREF _Toc23849469 \h
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 HYPERLINK \l "_Toc23849470" Reference list  PAGEREF _Toc23849470 \h
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Introduction
Cultural and creative industries are one of the fastest-growing sectors in the world. A good percentage of the world population is engaged in the creative industry.Over the years, there has been a significant shift towards the creative economy globally where economies are no longer based on the provision of goods and services but moving to the provision of services. The transformation is expected to be more abundant in the coming years. The information and knowledge are critical drivers of economic growth. The cultural and creative industry uses information and expertise to exploit opportunities in the economy. The creative industries have the potential for transforming economies as they offer job opportunities and create wealth. The developing countries have changed into economies where the knowledge and information are essential growth factors in the economy (Wlцmert and Papies 2016). As states continue to shift from the economies based on goods and services to economies based on knowledge and information, the role of culture and creativity in fuelling and shaping up this growth is imperative. We begin to understand the essence of the cultural and creative industry transiting from economies based on goods and services. The cultural and creative industries have a lot of definition. One of the standard explanationsfor the cultural and creative sector is that it is part of the modern economy where culture is produced and distributed through creative industrial means. Individuals apply their creativity and innovation to the generation of the primary commodity, which may have commercial value through intellectual property or direct sale to the consumers. The cultural and creative industry involves the arts, design sectors, media with attention placed on the convergent digital technologies and the issues within globalisation. The paper aims at analysingSpotify as one of the products in the creative industry. Spotify is a media platform that offers music through streaming.
Spotify History
Spotify technology is a media service provider that offers audio streaming services which have DRM protected music and podcasts from the media companies and record labels. Spotify deals with music which is one of the leading products under the cultural and creative industry.With the advancement in technology, key players such as Spotify can emerge in the cultural sector. Founded in 2006, Spotify Technology S.A. is based in Luxembourg Sweden.The Spotify platforms, which was launched back in 2008, offers access to over fifty million tracks (Wikstrцm 2013).The users of Spotify can browse for music using different parameters such as album, genres or artists and can create, share or edit playlist. The Spotify technology is available in many countries across Europe, America, Australia, Africa, New Zealand and other regions in Asia.