Abstract
This research takes the initial steps of exploring a novel field and discusses the importance of the business mindset in the arts. Following a theoretical summary, the authors examine trends in the music industry and the expectations set for a 21st century symphony orchestra, and then focus on the operation of the Berlin Philharmonic Orchestra, the London Symphony Orchestra, the San Francisco Symphony, the Budapest Festival Orchestra and, later, the Dohnanyi Orchestra Budafok. The orchestras have similar missions, but they use different business models. The main difference between the orchestras traces back to their funding; the American orchestra functions solely on market-based funding, while in the case of European orchestras, significant public funds are present. The aforementioned orchestras have realised that in today’s ever-changing world no business model is forever, and they have attempted to respond to the changing demands of consumers and utilise the opportunities given by technology.
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Disclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.