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Entrepreneurship in the Music Industry

Mark Marich

In my life as a music fan, I've owned and used LPs, 45s (and even a few 78s), 8-track cartridges, cassette tapes, CDs, and now MP3 files loaded onto an iPod. The music industry continues to change and these shifts mean more than the fact that we seem to buy music in a new format every five to ten years. The transformed music industry means that musicians and music-focused entrepreneurs face a completely new artistic and business environment. Yet, many of them are ill-prepared for the new marketplace. In an effort to better understand the entrepreneurial demands of the music business, representatives of the top US music training institutions will convene this week at the Eastman School of Music (based in Rochester, NY) to discuss how they can infuse entrepreneurship education into the training of future musicians. The program, the Eastman School of Music Institute for Music Leadership Symposium, will examine how to better link the academic and professional worlds, and how to best tap into the inherent creativity and innovation found among top music students.

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