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"Why did jazz become a dominant popular music genre in the 1920s and rock 'n' roll in the 1950s? Why did heavy metal, punk rock and hiphop find their way from sub-cultures to the established music industry? What are the effects of new communication technologies and the Internet on the creation of music in the early 21st century? These and other questions are answered by Peter Tschmuck through an integrated model of creativity and innovation that is based on an international history of music industry since Thomas A. Edison invented the phonograph in 1877. Thus, the history of the music industry is described in full detail. By discussing the historic process of music production, distribution and reception the author highlights several revolutions in the music industry that were caused by the inference of aesthetic, technological, legal, economic, social and political processes of change. On the basis of an integrated model of creativity and innovation, an explanation is given on how the processes and structures of the present music industry will be altered by the ongoing digital revolution, which totally changed the value-added network of the production, dissemination and use of music. For the second edition, the author has reworked chapter 9 in order to include all the developments which shaped the music industry in the first decade of the 21st century – from Napster to cloud-based music services and even beyond."

"Penelitian ini merupakan adaptasi dari penelitian sebelumnya oleh Kenny Skagerlund et al (2018) dengan menggunakan model yang ditawarkan oleh penelitian tersebut dalam cakupan yang sempit dan tepat waktu (just in time), sesuai dengan saran Fernandes et al (2014) untuk penelitian literasi finansial agar dapat menjadi landasan intervensi yang tepat. Industri musik independen hari ini mewakili 39% dari total industri musik, namun industri musik sendiri hanya berkontribusi 0.48% terhadap GDP industri kreatif di Indonesia. Penelitian ini menganalisis mengapa kontribusi industri musik begitu kecil dengan mengamati literasi finansial industri musik independen beserta variabel dibaliknya (construct) sesuai dengan model yang ditawarakan Skagerlund et al (2018). Studi ini menemukan bahwa model yang ditawarkan tidak bisa diimplementasikan pada industri musik independen dan studi yang sifatnya spesifik pada suatu industri lebih jauhnya harus bersifat induktif, bukan deduktif. Studi ini juga menemukan adanya kegelisahan yang bersifat industrial.

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This research is an adaptation of a prior research by Kenny Skagerlund et al (2018) to test the model proposed by said research within a narrow and just in time scope, as suggested by Fernandes et al (2014). The indepedent music industry has come a long way, now holding 39% of the whole music industry, but the industry at large only contributed 0.48% to the total GDP of Indonesia.

This study explored the cause of this by analyzing the independent music industrys financial literacy and its construct, as proposed by Skagerlund et al (2018). This study finds that the proposed model cannot be implemented in the independent music industry and any industry-specific model of financial literacy and its construct should be done in an inductive approach rather than deductive. This study also finds  that theres an industrial anxiety that should be explored in further research."