What The Music Industry Can Learn From The Beer Industry
Interesting food (drink) for thought:
- The dynamics of the beer industry bear remarkable similarity to the recorded music business and there are some lessons that can be learned.
- Craft beer is like the music industry’s indie sector and vinyl sales rolled into one.
- The beer aficionado and the music aficionado are more important to their respective industries now than they have ever been and this will only increase.
Over the next few weeks I will be writing a series of posts that illustrate what lessons the music business can heed from other industries. This is the first of these posts. Beer sales have been in steady decline for many years with the big brewers coming to terms with changing consumption habits of consumers and the impact of disruptive new models. Sound familiar? The dynamics of the beer industry bear remarkable similarity to the recorded music business and there are some lessons that can be learned. Beer sales have been declining since 2008 with the core baby boomer consumer base changing consumption habits and drinking more hard liquor and wine. In the UK the amount of beer drunk has fallen by 20% over the last 10 years while US beer sales have been falling since 2008. The number of new breweries went into decline and after years of acquisitions…
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