YouTube Decade: Cultural Convergence in Recorded Music

Lisa George () and Christian Peukert ()

No 14-11, Working Papers from NET Institute

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

Keywords: Digitization; Cultural Trade; Music Videos (search for similar items in EconPapers)
JEL-codes: D83 L82 O33 (search for similar items in EconPapers)
Pages: 21 pages
Date: 2014-09
New Economics Papers: this item is included in nep-cul
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (7)

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