Coursera Understanding the Music Business What is Music Worth? TUTORiAL

This course will examine the music industry in the United States, with the unique perspective gained by Vanderbilt University’s location in Nashville, TN. Nashville is a major center of music in the United States, and the music created here has a global reach, particularly in the country, rock, pop, singer-songwriter, and Americana genres. However, students will learn that the basic principles of recording, marketing, copyright, licensing, and live performance are the same, regardless of musical style or genre.

The music business is one of the most rapidly changing industries in the US today. It is also an industry filled with contradiction, and media headlines and anecdotal stories often add to the confusion. Here are just a few statements paraphrased from recent news stories:

The music business has collapsed
Demand for music is expanding at the greatest rate in history
Historic recording studios are closing at an alarming rate
More people are making recordings than ever before
Musicians usually lose money touring
Musicians usually make money touring
Major artist pulls songs off streaming services because they don’t pay fairly
Major artist makes a fortune from streaming services
People won’t buy records anymore
Vinyl record sales are soaring

This course will attempt to make sense of these seemingly contradictory trends and data, outline the basic structure and mechanisms of today’s music industry, and encourage students to think critically and entrepreneurially about the future of music. Leaders from various areas of the music business will lend their perspectives through in-depth interviews, and footage from a recording session will give learners a behind the scenes look at how a song goes from the spark of an idea hummed into a cell phone to a finished recording.

Participants will grapple with questions about art and commerce which are both timeless and crucially important today, and will emerge from this course with tools allowing them to make more informed decisions as creators, promoters, and consumers of music.

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