Business models in several industries have undergone a fundamental upheaval because of the virtual universe. Old business models in the music industry, for instance, were put to the test by illicit competitors, and the virtual universe has made it possible to create value from new business structures. Traditional business theories underwent a major change due to the virtual universe, but these changes differed considerably across national markets and are seldom understood. This research article will create a conceptual framework and investigate how differences in economic and cultural factors connect to different market outcomes due to the widespread usage of virtual elements. Case Study 1 studied the relationship between the virtual universe and revenue as well as the relationship between new digital business models and revenue. Case Study 2 studied the relationship between new digital business models and Case Study 3 studied the relationship between piracy virtual universe and new music business model. This research explores the significant relationship between the virtual universe and innovative music business models the result of it can be expected from this research that after the adaptation of innovative economic models in relationship with the virtual universe by the music industry piracy of music will decrease automatically. In contrast, it is found that the arrival of the most current development of streaming platforms, like Spotify, is associated with lower levels of music piracy and that overall earnings only rise after their launch.

Authors:
Manish Sharma, Lovely Professional University, India
Kulvinder Singh, Lovely Professional University, India
Manvendra Singh, Lovely Professional University, India

About the Presenter(s)
Dr. Pawan Kumar is Professor of Mittal School of Business, Lovely Professional University. He is specialist in a Business , Marketing and Revenue strategies.

See this presentation on the full schedule – On Demand Schedule

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