The entertainment industry has been fundamentally transformed by the digital revolution and the COVID-19 pandemic. Music professionals and festival organizers face new challenges.
The digital strategy enables the creation of new value models and income models from the social media and the relations of all parties concerned.
By regarding the internet ecosystem as a business ecosystem, one actually sees the emergence of new value models in the relationships of all parties that make up the internet ecosystem.
The entertainment business is shifting from analog to digital; it is a digital industry in a digital economy with analog facets like performances, events and festivals.
The right to exist of every company is based on the product life cycle. Each product has a life path, which consists of a growing phase and a phase of decreasing growth.