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Paper 3 Edexcel business ALevel Music industry Flashcards | StudBud
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Paper 3 Edexcel business ALevel Music industry
Paper 3 Edexcel business ALevel Music industry
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Flashcards
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Questions
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Answers
1
Which platform dominates the global streaming music market?
Tidal
Spotify
Amazon Music
Apple Music
2
Which of the following is a ‘Big Three’ global music company?
SoundCloud
BBC Radio
Universal Music Group
Merlin
3
Which of the following is a fixed cost for a music event?
Merchandise revenue
Food vendor sales
Ticket sales
Artist fees
4
What metric might event managers use to measure financial success?
Streaming count post-event
Profit margin on ticket sales
Artist Instagram followers
Number of songs played
5
What is a recent trend in recorded music consumption?
Decline in streaming services
Increase in CD sales
Growth in vinyl sales
Rise in illegal downloads
6
Which of the following is a likely business objective for a growing music distribution company?
Expanding market share
Limiting innovation
Increasing staff turnover
Decreasing brand recognition
7
What growth strategy would a record label acquiring a music streaming platform be an example of?
Conglomerate merger
Vertical integration
Organic growth
Horizontal integration
8
Which of the following is an essential entrepreneurial skill for organising music events?
Biology
Retail pricing
Coding
Negotiation
9
Which growth method involves increasing output without acquisitions?
Horizontal integration
Merger
Takeover
Organic growth
10
Which consumer demographic is most likely to stream music?
55–64-year-olds
Under 12s
35–44-year-olds
18–24-year-olds
11
Why do global music distributors often use data analytics?
To monitor studio costs
To record CDs
To target advertising and optimise playlists
To remove copyright protections
12
Entrepreneurs in live music must often:
Prioritise shareholder dividends
Own a record label
Avoid promotion and advertising
Manage budgets and coordinate teams
13
What is a typical risk for a music event entrepreneur?
Weather conditions for outdoor events
Guaranteed profits
Strong consumer demand
Too many suppliers
14
What is a key competitive advantage of multinationals in music distribution?
High economies of scale
Limited market reach
Low brand awareness
Personal customer service
15
How has subscription pricing impacted the recorded music industry?
Created predictable revenue streams
Increased piracy
Eliminated physical music sales
Reduced artist revenues
16
What is an example of a variable cost at a live music event?
Insurance
Security wages
Lighting installation
Venue hire
17
How do independent music retailers often differentiate themselves?
Price cutting
Mass-market appeal
Digital-only offerings
Specialised genres and in-store events
18
Which business is most likely to benefit from live music events?
A fast food chain
An airline
A nearby hotel or venue
An online retailer
19
What is a key challenge when managing resources at live events?
Managing perishable goods
Inventory rotation
Data protection compliance
Ensuring security and crowd control
20
Which of the following is an example of a UK independent music retailer?
HMV
Spotify
Amazon Music
Boomkat
