lynx   »   [go: up one dir, main page]
IDEAS home Printed from https://ideas.repec.org/p/net/wpaper/1411.html
   My bibliography  Save this paper

YouTube Decade: Cultural Convergence in Recorded Music

Author

Listed:
  • Lisa M. George

    (Hunter College and the Graduate Center, CUNY, Department of Economics, Hunter College, 695 Park Ave., New York, NY 10065)

  • Christian Peukert

    (University of Zurich, Department of Business Administration, Plattenstrasse 14, 8032 Zurich, Switzerland)

Abstract
The YouTube platform reduces fixed entry costs for local artists but also lowers the cost of access to international superstars. The net effect is an empirical question. We study the effect of YouTube on the market for music, focusing on converging tastes for international hits. We consider Austria and Germany, which share a common culture and technological development but differ in access to music videos on YouTube. Exploiting a contract dispute that has blocked official music videos in Germany since 2009, we find that YouTube increases the number of US hits on European charts. We further find evidence that YouTube speeds the hit-making cycle and brings more unique titles to top charts. Although the superstar effect dominates, the magnitude of estimated effects are modest, suggesting that YouTube will not drive out the market for local music

Suggested Citation

  • Lisa M. George & Christian Peukert, 2014. "YouTube Decade: Cultural Convergence in Recorded Music," Working Papers 14-11, NET Institute.
    • Handle: RePEc:net:wpaper:1411
    as

    Download full text from publisher

    File URL: http://www.netinst.org/George_Peukert_14-11.pdf
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Sinai, Todd & Waldfogel, Joel, 2004. "Geography and the Internet: is the Internet a substitute or a complement for cities?," Journal of Urban Economics, Elsevier, vol. 56(1), pages 1-24, July.
    2. Kretschmer, Tobias & Peukert, Christian, 2014. "Video killed the radio star? Online music videos and digital music sales," LSE Research Online Documents on Economics 60276, London School of Economics and Political Science, LSE Library.
    3. Erik Brynjolfsson & Yu (Jeffrey) Hu & Duncan Simester, 2011. "Goodbye Pareto Principle, Hello Long Tail: The Effect of Search Costs on the Concentration of Product Sales," Management Science, INFORMS, vol. 57(8), pages 1373-1386, August.
    4. Fernando Ferreira & Joel Waldfogel, 2013. "Pop Internationalism: Has Half a Century of World Music Trade Displaced Local Culture?," Economic Journal, Royal Economic Society, vol. 123, pages 634-664, June.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Marc Bourreau & François Moreau & Patrik Wikström, 2022. "Does digitization lead to the homogenization of cultural content?," Economic Inquiry, Western Economic Association International, vol. 60(1), pages 427-453, January.
    2. Tobias Kretschmer & Christian Peukert, 2020. "Video Killed the Radio Star? Online Music Videos and Recorded Music Sales," Information Systems Research, INFORMS, vol. 31(3), pages 776-800, September.
    3. Christian Peukert, 2019. "The next wave of digital technological change and the cultural industries," Journal of Cultural Economics, Springer;The Association for Cultural Economics International, vol. 43(2), pages 189-210, June.
    4. Essling, Christian & Koenen, Johannes & Peukert, Christian, 2017. "Competition for attention in the digital age: The case of single releases in the recorded music industry," Information Economics and Policy, Elsevier, vol. 40(C), pages 26-40.
    5. Masood, Maria, 2019. "New evidence on income and the geographical distribution of imports: The case of audiovisuals," Journal of Comparative Economics, Elsevier, vol. 47(3), pages 717-734.
    6. Budzinski, Oliver & Pannicke, Julia, 2016. "Do preferences for pop music converge across countries? Empirical evidence from the Eurovision Song Contest," Ilmenau Economics Discussion Papers 101, Ilmenau University of Technology, Institute of Economics.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Anderson, Simon & Waldfogel, Joel, 2015. "Preference Externalities in Media Markets," CEPR Discussion Papers 10835, C.E.P.R. Discussion Papers.
    2. Son, Jungmin & Kim, Jikyung (Jeanne) & Choi, Jeonghye & Kim, Mingyung, 2017. "Linking online niche sales to offline brand conditions," Journal of Business Research, Elsevier, vol. 70(C), pages 74-84.
    3. Tobias Kretschmer & Christian Peukert, 2020. "Video Killed the Radio Star? Online Music Videos and Recorded Music Sales," Information Systems Research, INFORMS, vol. 31(3), pages 776-800, September.
    4. Essling, Christian & Koenen, Johannes & Peukert, Christian, 2017. "Competition for attention in the digital age: The case of single releases in the recorded music industry," Information Economics and Policy, Elsevier, vol. 40(C), pages 26-40.
    5. Masood, Maria, 2019. "New evidence on income and the geographical distribution of imports: The case of audiovisuals," Journal of Comparative Economics, Elsevier, vol. 47(3), pages 717-734.
    6. Peter Mayerhofer & Peter Huber & Dieter Pennerstorfer, 2017. "Handel und Einzelhandel im Wiener Beschäftigungssystem. Arbeitsmarktrelevanz, Arbeitsplatzcharakteristika, absehbare Herausforderungen," WIFO Studies, WIFO, number 61951, August.
    7. Claude Lacour & Sylvette Puissant, 2007. "Re-Urbanity: Urbanising the Rural and Ruralising the Urban," Environment and Planning A, , vol. 39(3), pages 728-747, March.
    8. Matthew Gentzkow, 2007. "Valuing New Goods in a Model with Complementarity: Online Newspapers," American Economic Review, American Economic Association, vol. 97(3), pages 713-744, June.
    9. Yu Sun & Xingxuan Kuang & Dazhi Sun, 2016. "The geographic concentration of China’s e-business enterprises: where they gather and why," Electronic Markets, Springer;IIM University of St. Gallen, vol. 26(1), pages 31-42, February.
    10. Cho, Daegon & Hwang, Youngdeok & Park, Jongwon, 2018. "More buzz, more vibes: Impact of social media on concert distribution," Journal of Economic Behavior & Organization, Elsevier, vol. 156(C), pages 103-113.
    11. Tobias Gesche, 2022. "Reference‐price shifts and customer antagonism: Evidence from reviews for online auctions," Journal of Economics & Management Strategy, Wiley Blackwell, vol. 31(3), pages 558-578, August.
    12. Weeds, Helen, 2012. "Superstars and the long tail: The impact of technology on market structure in media industries," Information Economics and Policy, Elsevier, vol. 24(1), pages 60-68.
    13. Timothy J. Richards & Elliot Rabinovich, 2018. "The long‐tail of online grocery shopping," Agribusiness, John Wiley & Sons, Ltd., vol. 34(3), pages 509-523, June.
    14. Naixin Zhu, 2023. "Dissertation on Applied Microeconomics of Freemium Pricing Strategies in Mobile App Market," Papers 2305.09479, arXiv.org.
    15. Kekezi, Orsa & Mellander, Charlotta, 2017. "Geography and Media – Does a Local Editorial Office Increase the Consumption of Local News?," Working Paper Series in Economics and Institutions of Innovation 447, Royal Institute of Technology, CESIS - Centre of Excellence for Science and Innovation Studies.
    16. Işık Biçer & Florian Lücker & Tamer Boyacı, 2022. "Beyond Retail Stores: Managing Product Proliferation along the Supply Chain," Production and Operations Management, Production and Operations Management Society, vol. 31(3), pages 1135-1156, March.
    17. Budzinski, Oliver & Kohlschreiber, Marie & Kuchinke, Björn & Pannicke, Julia, 2019. "Does music quality matter for audience voters in a music contest?," Ilmenau Economics Discussion Papers 122, Ilmenau University of Technology, Institute of Economics.
    18. Mark J. McCabe & Christopher M. Snyder, 2015. "Does Online Availability Increase Citations? Theory and Evidence from a Panel of Economics and Business Journals," The Review of Economics and Statistics, MIT Press, vol. 97(1), pages 144-165, March.
    19. Cameron D. Miller & Richard D. Wang, 2024. "Product digitization and differentiation strategy change: Evidence from the book publishing industry," Strategic Management Journal, Wiley Blackwell, vol. 45(7), pages 1241-1272, July.
    20. Lenaerts, Bert & Allroggen, Florian & Malina, Robert, 2021. "The economic impact of aviation: A review on the role of market access," Journal of Air Transport Management, Elsevier, vol. 91(C).

    More about this item

    Keywords

    Digitization; Cultural Trade; Music Videos;
    All these keywords.

    JEL classification:

    • L82 - Industrial Organization - - Industry Studies: Services - - - Entertainment; Media
    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes
    • D83 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Search; Learning; Information and Knowledge; Communication; Belief; Unawareness

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:net:wpaper:1411. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Nicholas Economides (email available below). General contact details of provider: http://www.NETinst.org/ .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.
    Лучший частный хостинг