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Article: A brand premium pricing model for digital music market

TitleA brand premium pricing model for digital music market
Authors
KeywordsBrand premium
Music streaming
Pricing
Self-selection
Issue Date2015
PublisherInternational Association of Computer Science and Information Technology (IACSIT). The Journal's web site is located at http://www.ijtef.org/
Citation
The 2nd International Conference on Advances in Business and Economics (ICABE 2015), Los Angeles, CA., 11-12 April 2015. In International Journal of Trade, Economics and Finance, 2015, v. 6 n. 2, p. 117-124 How to Cite?
AbstractThis paper proposes an alternative pricing scheme for the digital music market, where the musician's differentiated characteristics such as fame, popularity, and listener share — in the form of consumer's brand premium multiplier — is incorporated into the pricing decision by the record label. We consider consumers are differentiated by two types of characteristics: the brand premium multiplier towards the musician, and the general preference to music. We argue that in the co-existence of free music streaming, the retail price of a musical product should be allowed to vary in a manner that reflects the differences in market environment and the musician's characteristics. The results of the proposed model provide a toolkit for the recording industry to effectively price its products in a market that is constantly evolving.
DescriptionIJTEF-Sponsored Conference. Successfully revised IJTEF-sponsored conference papers may appear in one issue.
Persistent Identifierhttp://hdl.handle.net/10722/211772
ISSN

 

DC FieldValueLanguage
dc.contributor.authorKo, TH-
dc.contributor.authorLau, HYK-
dc.date.accessioned2015-07-21T02:10:25Z-
dc.date.available2015-07-21T02:10:25Z-
dc.date.issued2015-
dc.identifier.citationThe 2nd International Conference on Advances in Business and Economics (ICABE 2015), Los Angeles, CA., 11-12 April 2015. In International Journal of Trade, Economics and Finance, 2015, v. 6 n. 2, p. 117-124-
dc.identifier.issn2010-023X-
dc.identifier.urihttp://hdl.handle.net/10722/211772-
dc.descriptionIJTEF-Sponsored Conference. Successfully revised IJTEF-sponsored conference papers may appear in one issue.-
dc.description.abstractThis paper proposes an alternative pricing scheme for the digital music market, where the musician's differentiated characteristics such as fame, popularity, and listener share — in the form of consumer's brand premium multiplier — is incorporated into the pricing decision by the record label. We consider consumers are differentiated by two types of characteristics: the brand premium multiplier towards the musician, and the general preference to music. We argue that in the co-existence of free music streaming, the retail price of a musical product should be allowed to vary in a manner that reflects the differences in market environment and the musician's characteristics. The results of the proposed model provide a toolkit for the recording industry to effectively price its products in a market that is constantly evolving.-
dc.languageeng-
dc.publisherInternational Association of Computer Science and Information Technology (IACSIT). The Journal's web site is located at http://www.ijtef.org/-
dc.relation.ispartofInternational Journal of Trade, Economics and Finance-
dc.subjectBrand premium-
dc.subjectMusic streaming-
dc.subjectPricing-
dc.subjectSelf-selection-
dc.titleA brand premium pricing model for digital music market-
dc.typeArticle-
dc.identifier.emailLau, HYK: hyklau@hkucc.hku.hk-
dc.identifier.authorityLau, HYK=rp00137-
dc.description.naturelink_to_OA_fulltext-
dc.identifier.doi10.7763/IJTEF.2015.V6.454-
dc.identifier.hkuros245530-
dc.identifier.hkuros245808-
dc.identifier.volume6-
dc.identifier.issue2-
dc.identifier.spage117-
dc.identifier.epage124-
dc.publisher.placeSingapore-

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