“Let’s make lots of money”: the determinants of performance in the recorded music sector
Juan D. Montoro-Pons () and
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Juan D. Montoro-Pons: Universitat de València
Manuel Cuadrado-García: Universitat de València
Journal of Cultural Economics, 2018, vol. 42, issue 2, 287-307
Abstract This research analyzes the performance of 467 record labels in eight European countries over a period of 13 years (2003–2015). The main goal is to explain a relative measure of profitability in terms of observed variables, although the nature of the dataset also allows us to include non-observed firm and country effects. To this end alternative models are estimated and three main research questions are tested, namely: (1) the effect of the dual structure of the recorded music market, in which a competitive segment and an oligopoly coexist; (2) the extent and source of the volatility of profits in record labels; and (3) the nonlinear impact of size on performance.
Keywords: Independent record labels; Major record labels; Panel data modeling; Hierarchical modeling; Return on assets; Determinants of profitability; Cultural industries (search for similar items in EconPapers)
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