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on Cultural Economics |
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Issue of 2024‒06‒24
five papers chosen by Roberto Zanola, Università degli Studi del Piemonte Orientale |
| By: | Daniel Winkler; Christian Hotz-Behofsits; Nils Wl\"omert; Dominik Papies; Jura Liaukonyte |
| Abstract: | The digital age has significantly changed how music is consumed, promoted, and monetized. Social media platforms like TikTok are playing a pivotal role in this transformation. This shift has sparked a debate within the music industry: While some stakeholders see social media platforms like TikTok as opportunities to boost songs to viral status, others raise concerns about potential cannibalization effects, fearing that such exposure might reduce revenue from streaming services like Spotify. In this paper, we evaluate the effect of a song's presence - or absence - on social media on its demand on music streaming services using a quasi-natural experiment: Universal Music Group's (UMG) - one of "The Big 3" record labels - decision to remove its entire content library from TikTok in February 2024. We use representative samples covering close to 50% of the US and 94% of the German streaming markets, employing a difference-in-differences approach to compare the streaming consumption of songs that were removed from TikTok with those that were not. We find that UMG's removal of music from TikTok led to a 2-3% increase in streams on audio platforms for affected songs, indicating substitution effects. However, this average treatment effect masks significant heterogeneity: older songs and songs with less promotional support elsewhere saw a decrease in streaming consumption, suggesting that TikTok helps consumers discover or rediscover content that is not top of mind for consumers. |
| Date: | 2024–05 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:2405.14999&r= |
| By: | Rasmussen, Nina |
| Abstract: | Data-driven streamers like Netflix and Amazon Prime Video have expanded into the European screen landscape with a significant appetite for locally produced content. These players leverage advanced data analytics to gain deep customer insights, but they prefer to keep a lid on their algorithmic operations. This article examines how screen workers interact with streaming data despite widespread secrecy. Drawing on interviews and an interface ethnography, I explore the ways these workers access, sense, generate and resist streaming data throughout their creative process. As such, the article provides a framework for understanding the subtle and sometimes contradictory ways that screen workers engage with such data practices. I also demonstrate how researchers can circumvent and lower barriers to access in an industry marked by data secrecy. As a result, this article contributes to discussions about the datafication of cultural production, and it does so with novel insights from the European screen context. |
| Keywords: | algorithms; Amazon; big data; creative labour; creative methods; datafication; Netflix; production cultures; streaming; AH/L503873/1 |
| JEL: | R14 J01 |
| Date: | 2024–05–10 |
| URL: | http://d.repec.org/n?u=RePEc:ehl:lserod:122660&r= |
| By: | Salvaggio, Salvino A. |
| Abstract: | This brief note presents a strategic framework for the digital transformation of performing arts and cultural institutions. It identifies four key dimensions of digital transformation: artistic innovation, audience engagement, organisational and operational efficiency, and financial sustainability. The note emphasises the importance of setting high aspirations, driving an inclusive planning process, and focusing on execution, accountability, and sustainability to successfully implement the digital transformation journey and redefine the offerings and operations of these institutions in the digital world. |
| Date: | 2024–05–17 |
| URL: | http://d.repec.org/n?u=RePEc:osf:osfxxx:xtcpg&r= |
| By: | Prince C. Oguguo |
| Abstract: | This paper is an analysis of the evolution of the global video game industry, a sector characterized by rapid technological innovation and changing business models. It builds on the work of Ozalp (2024) and delves into how innovation in hardware, software, digital transformation and business models have redefined the boundaries of game development and player experiences. The paper also explores the important job roles in the industry, the role of intellectual property and end with predictions for the future of the industry. It aims to provide an accessible understanding of the industry's evolution, its current state, and its potential future directions. |
| Keywords: | Innovation, Video Games, Intellectual property, Technology |
| Date: | 2024–04 |
| URL: | http://d.repec.org/n?u=RePEc:wip:wpaper:85&r= |
| By: | Pranjal Rawat |
| Abstract: | In some markets, the visual appearance of a product matters a lot. This paper investigates consumer transactions from a major fashion retailer, focusing on consumer aesthetics. Pretrained multimodal models convert images and text descriptions into high-dimensional embeddings. The value of these embeddings is verified both empirically and by their ability to segment the product space. A discrete choice model is used to decompose the distinct drivers of consumer choice: price, visual aesthetics, descriptive details, and seasonal variations. Consumers are allowed to differ in their preferences over these factors, both through observed variation in demographics and allowing for unobserved types. Estimation and inference employ automatic differentiation and GPUs, making it scalable and portable. The model reveals significant differences in price sensitivity and aesthetic preferences across consumers. The model is validated by its ability to predict the relative success of new designs and purchase patterns. |
| Date: | 2024–05 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:2405.10498&r= |