Research On The Competitive Strategy Of Music Business Of S Recording Company

According to the《2021 Global Music Industry Report》released by the IFPI,the market revenue of the global music industry has reached US $21.6 billion in 2020,an increase of 7.4%over 2019,and has achieved positive growth for six consecutive years.While the global music market is picking up,China’s music market ranked among the top 10 in the world for the first time in 2017 and climbed to seventh in 2018,achieving rapid growth in a short period of time.China’s music market is developing well and has great potential.As one of the world’s well-known recording companies,S recording company ranks high in the global music industry,but its market share in China is not high.It has implemented the current pop music content production strategy to increase its market share in China.Based on the theory of competitive strategy,PEST analysis method,five forces analysis model and other analysis tools,this paper analyzes the domestic music market environment and competition status.Through the analysis of the internal value chain of S recording company,business activities are sorted out to find the company’s core competitiveness,and through SWOT analysis,the opportunities and threats in the market are integrated,and the company’s strengths and weaknesses are combined to find the strategic direction and the company’s competitive advantage in the market.Then combined with the analysis of the research results to find out the company’s current strategic problems,aiming at the problem to formulate a reasonable competitive strategy.Through case study,interview and other research methods,this paper has a clear understanding and cognition of the domestic music industry environment.By consulting and summarizing lots of related literatures,it is found that the current domestic research on the music market is mainly focused on the music culture industry,music communication,music copyright and music playback platform.The research on competitive strategy is mostly in manufacturing,circulation,science and technology,catering,and other industries,but there is little research on the competitive strategy of enterprises in the music industry.The highlight of this paper focuses on the production of music content,taking the representative S recording company in the industry as the research object,analyzing its current strategy,finding out the problems existing in the strategy,and combining with the research and analysis of the market environment and the inner enterprise,then to optimize the current strategy.This paper will use the enterprise strategic management theory,which has been ignored by the traditional music enterprises,combine with the enterprise itself,use the competitive strategy theory to re-sort out the competitive relationship of the music industry,find the internal problems of the enterprise,and find the direction of strategic optimization also form a systematic enterprise strategy.This paper is of practical significance to the application of competitive strategy theory in the music industry,and has practical reference significance to enhance the competitiveness of related enterprises in China’s music industry,also provides a certain reference significance for the positive development of China’s music industry.