New Books in Economics Eric Drott, "Streaming Music, Streaming Capital" (Duke UP, 2024)
Dec 6, 2024
Eric Drott, Associate Professor of Music Theory at the University of Texas at Austin, delves into the complex relationship between streaming music and capitalism. He highlights how streaming services have reshaped music categorization and consumer behavior, often reflecting identity in the digital economy. Drott tackles issues like consumer surveillance, revenue distribution inequities for artists, and the impact of AI-generated music. His analysis pushes us to reconsider the commodification of music and its implications for the future.
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Multi-Sided Marketplaces
- Streaming platforms are multi-sided marketplaces, serving various user groups, not just listeners.
- These groups include artists, advertisers, and investors, each with different needs and interactions.
Data Assetization
- Data capture and profiling are central to streaming platforms, not just serving ads.
- This data assetization process creates value by profiling users for targeted advertising.
Contextualization of Music
- Streaming platforms emphasize context and music's portability for surveillance.
- This impacts musical categorization, with mood and activity gaining prominence over traditional genres.