Music fascinates people, and rhythms excite millions in concerts, clubs, and cars. However, the music industry is in crisis. For years, revenues have been declining worldwide. The many new, as well as the old challenges facing the music industry are shaped by new technologies, marketing campaigns, and trends. Top managers of the music industry and experts from academia analyze the economic conditions of the music industry and the product of music in this anthology. They derive implications for the value creation management of music and demonstrate how the traditional business of the music industry is systematically expanded through new technologies. This standard work discusses the fundamental laws of the music industry and highlights their changes due to the internet. The second edition addresses current developments.