Production and Consumption Model of a Modern Music Product

Abstract

Introduction. The relevance of the study is in the formation of conceptual and terminological apparatus for the functioning of the music industry in Ukraine, the identification of music product producers, determining the specifics of music product and its essence, to develop an effective mechanism for copyright protection of authors and performers (artists) in a crisis of royalty payments formed in Ukraine in 2021. Purpose and methods. The study aims to determine the model of production and consumption of a modern music product given the rapid digitization of such a product in the last decade. The methodological basis of the study is comprehensive, systematic, and historical approaches. Results. A music product is defined in two definitions: first, like a musical composition with lyrics (song) or without lyrics (melody); secondly, “artist” as a music product that is directly involved in creating a track (song), public performance (concert), products with the symbols of their brand (merch) and content for social networks, television, radio, including advertising. Modern manufacturers of the music industry commercialize the artist's brand, his unique story. This strategy ensures rapid monetization of the music project and reduces investment risks. Conclusions. The scientific novelty of the research results is to determine the specifics of the functioning of traditional and modern models of modern music product production and consumption. The practical significance of the obtained results is in the use of the concept of “music product” for the development and improvement of legislation in the field of culture, the functioning of the music industry, and the protection of intellectual property rights, including copyright.