There is a relationship between Institutions, Audiences and ‘Creatives’ within the music industry. They are all interdependent in some way or another. (‘Symbiotic’ relationship)
Institutions rely on audiences to be purchasing the CD’s and records they sell. For example HMV and Sainsbury’s distribute the content for audiences to buy. They have a way of targeting the audience in a specific way and this is what attracts the audience. Audiences rely on these institutions to provide them with the music for them to purchase.
‘Creatives’ are the people who come up with the ideas for a product, then present it to the institution who will fund and distribute their products. The music has to be good and institutions have to be convinced that they can make money from it otherwise they won’t sell it. This shows their interdependent relationship and how they rely on each other in order to make the most money possible from music.
Audiences rely on ‘creatives’ to have the best ideas and skills to create enjoyable products that specifically targets them, otherwise they won’t be interested and the music industry will lose out on profit. ‘Creatives’ rely on the audiences as their source of money as they are the ones who will be buying the products, which is why there is pressure for ‘creatives’ such as record labels to make good music that targets a wide audience.
In the end, it is evident that Institutions, audiences and ‘creatives’ all rely upon each other and care about the money that comes into the, so it is important that the music that is being made is good and appeals to audiences otherwise not much money would be generated.
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