The paper "Innovative Process in Sony Music Entertainment Inc " is a good example of a management case study. This study introduces Sony Music Entertainment as one of the most innovative companies, especially in music entertainment. This study also entails the evaluation of the innovative and entrepreneurial process implemented by this organization. Secondly, this report will also discuss the important lessons learned from the innovative process that SMEI implements. Finally, this study will examine why it would be difficult for another company in the same industry to adopt some of the success factors of SMEI and explain how such a company can overcome these difficulties.
The global music entertainment industry is very competitive; therefore, for a company in this industry to succeed, it must engage in innovative processes. Innovative Process: Sony Music Entertainment Sony Music Entertainment is a music corporation which falls under its parent company - Sony Corporation of America. This corporation has its headquarters in New York. It also has other offices located in Kuala Lumpur, Jakarta, Hong Kong, Shanghai, and Singapore. It encompasses a broad array of both local and international music superstars.
Some of its products and services include print media publishing incorporating books, newspapers, and magazines printing; bookstores; movies, movie theatres, video rental and distribution, and movie production; broadcast/cable; music audio; and sports/games/gambling. Since it was established in 2004, this company has continued to experience tremendous growth even featuring popular artists such as Britney Spear, Avril Lavigne, Alicia Key, Chris Brown, and Sean Kingston. In 2008, the company launched a digital platform in conjunction with Myspace Music, the website MyPlay. com which has a platform that offers fans the ability to purchase and download music from Sony Music products, including cassettes, CDs, video, vinyl, DVDs, and minidisks online at SonyMusicStore. com (Plunkett 2009). In Australia, Sony Music is the leading recording company, and it attributes its success to the rich Australian music industry which dates back to 1938 investing in artists such as Midnight Oil, Tina Arena, Dragon, Silverchair, and Men at Work.
Other well-known artists are Guy Sebastian, Delta Goodrem, John Farnham, Jessica Mauboy, and Human Nature (Handlin 2015). First, the company engages in digital innovation in the music industry.
For a long time, Sony Music has embraced digital innovation where it has invested heavily and has been licensing new business models. These models enable it to avail recorded music through various services and at different prices. These models, therefore, enable the company to distinguish itself from its competitors. Music consumers can access a wide variety of music an amount which is unmatched by any other company in Australia and at a minimal cost. There are other services that the company offers at no cost including ad-supported streaming products such as products offered by Gureva, iHeart Radio, and Spotify (Handlin 2015). Secondly, embraces IP arrangements and creativity where it invests heavily in the discovery of new local upcoming Australian talent.
Sony Music has been striving to look continually for new talents and present them on the international stage to show the world the creativity present in Australia. To achieve this, Sony Music has been employing and engaging independent contractors who include people and organizations such as mixers, producers, recording studios, sound engineers, backing vocalists, photographers, arrangers, instrumentalists, hair, film crew, video producers, and make-up crew (Handlin 2015).