And here's another lost gem.
In this important article published in the Journal of Political Economy (you can download a free version here) authors Hendricks and Sorensen explain how new music releases, and specifically those which are a hit, motivate sales of albums in an artists' back catalogue.
Sounds fairly obvious, but don't forget that research has an important role to play in defining basic assumptions about the world and the use of a substantial dataset of sales data from hundreds of artists over years and years goes a long way in setting this one in stone.
And if that's not enough, consider how in the days after U2 force-fed i-Tunes users with their new album, 26 of their older releases shot up the charts (though not to an extent particularly worth shouting about).
It's a tough read given the methodology used (you will know what I mean when you open the PDF) but the lengthy introduction to the paper is very well put together and easy to understand.
References
Hendricks, K. and Sorensen, A. (2009). Information and the Skewness of Music Sales. Journal of Political Economy, 117(2), 324-369.
In this important article published in the Journal of Political Economy (you can download a free version here) authors Hendricks and Sorensen explain how new music releases, and specifically those which are a hit, motivate sales of albums in an artists' back catalogue.
Sounds fairly obvious, but don't forget that research has an important role to play in defining basic assumptions about the world and the use of a substantial dataset of sales data from hundreds of artists over years and years goes a long way in setting this one in stone.
And if that's not enough, consider how in the days after U2 force-fed i-Tunes users with their new album, 26 of their older releases shot up the charts (though not to an extent particularly worth shouting about).
It's a tough read given the methodology used (you will know what I mean when you open the PDF) but the lengthy introduction to the paper is very well put together and easy to understand.
Tweets @musicpiracyblog
References
Hendricks, K. and Sorensen, A. (2009). Information and the Skewness of Music Sales. Journal of Political Economy, 117(2), 324-369.
