Rockonomics
A Backstage Tour of What the Music Industry Can Teach Us About Economics and Life
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Narrated by:
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Fred Berman
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By:
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Alan B. Krueger
About this listen
Alan Krueger, a former chairman of the president's Council of Economic Advisers, uses the music industry, from superstar artists to music executives, from managers to promoters, as a way in to explain key principles of economics, and the forces shaping our economic lives.
The music industry is a leading indicator of today's economy; it is among the first to be disrupted by the latest wave of technology, and examining the ins and outs of how musicians create and sell new songs and plan concert tours offers valuable lessons for what is in store for businesses and employees in other industries that are struggling to adapt.
Drawing on interviews with leading band members, music executives, managers, promoters, and using the latest data on revenues, royalties, streaming tour dates, and merchandise sales, Rockonomics takes listeners backstage to show how the music industry really works - who makes money and how much, and how the economics of the music industry has undergone a radical transformation during recent decades.
Before digitalization and the ability to stream music over the internet, rock stars made much of their income from record sales. Today, income from selling songs has plummeted, even for superstars like James Taylor and Taylor Swift. The real money nowadays is derived from concert sales. In 2017, for example, Billy Joel earned $27.4 million from his live performances, and less than $2 million from record sales and streaming. Even Paul McCartney, who has written and recorded more number-one songs than anyone in music history, today, earns 80 percent of his income from live concerts. Krueger tackles commonly-asked questions: How does a song become popular? And how does a new artist break out in today's winner-take-all economy? How can musicians and everyday workers earn a living in the digital economy?
"An absolutely brilliant mind. The definition of left and right brain balance!" (Quincy Jones)
Includes a PDF of charts and graphs.
PLEASE NOTE: When you purchase this title, the accompanying PDF will be available in your Audible Library along with the audio.
©2019 Alan B. Krueger (P)2019 Random House AudioListeners also enjoyed...
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Critic reviews
"The music biz has been down a twisted path, but Alan Krueger brings it all together in a smart, relatable way. Rockonomics has lessons far beyond the music industry, so fasten your seat belt and come along for the ride." (Donald Passman, music industry attorney and author of All You Need to Know About the Music Business)
"Krueger has produced something special here. With reference to Lady Gaga, Bono, Dylan, and Springsteen, he tells us a ton about how the modern economy works, and also about the human spirit. Oh, he has something to say about human happiness, too. Brilliant, surprising, and fun - a bit like rock music itself." (Cass R. Sunstein, Robert Walmsley university professor at Harvard University and author of Conformity: The Power of Social Influences)
"When it comes to rock and roll, not even the musicians who play your favorite songs know where the money goes, which makes Alan Krueger’s outstanding book Rockonomics all the more essential. Through his accounts of show-business dealings and interviews with artists, Krueger unpacks and explains subjects of maddening complexity - record deals, concert ticket sales, streaming revenues, and much more - with the mind of an economist and the heart of a music lover." (Jacob Slichter, drummer for Semisonic and author of So You Wanna Be a Rock and Roll Star)
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Success and Luck
- Good Fortune and the Myth of Meritocracy
- By: Robert H. Frank
- Narrated by: Robert H. Frank
- Length: 5 hrs and 19 mins
- Unabridged
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How important is luck in economic success? No question more reliably divides conservatives from liberals. As conservatives correctly observe, people who amass great fortunes are almost always talented and hardworking. But liberals are also correct to note that countless others have those same qualities yet never earn much. In recent years, social scientists have discovered that chance plays a much larger role in important life outcomes than most people imagine.
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Not what is advertised
- By Andre on 04-18-17
By: Robert H. Frank
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The End of Work
- Why Your Passion Can Become Your Job
- By: John Tamny
- Narrated by: Tom Parks
- Length: 4 hrs and 37 mins
- Unabridged
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From the author of Popular Economics comes a surprisingly sunny projection of America's future job market. Forget the doomsday predictions of sour-faced nostalgists who say automation and globalization will take away your dream job. The job market is only going to get better and better, according to economist John Tamny, who argues in The End of Work that the greatest gift of prosperity, beyond freedom from painful want, is the existence of work that is interesting.
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Positive... fun all the way... no boring parts
- By Robert J. Marks on 02-20-19
By: John Tamny
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The Great Reversal
- How America Gave Up on Free Markets
- By: Thomas Philippon
- Narrated by: Walter Dixon
- Length: 10 hrs and 1 min
- Unabridged
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Why are cellphone plans so much more expensive in the United States than in Europe? It seems a simple question. But the search for an answer took Thomas Philippon on an unexpected journey through some of the most complex and hotly debated issues in modern economics. Ultimately, he reached a surprising conclusion: American markets, once a model for the world, are giving up on healthy competition.
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Eye-opening, but better as a book - a must-READ
- By Ash on 11-29-19
By: Thomas Philippon
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Upside
- Profiting from the Profound Demographic Shifts Ahead
- By: Kenneth W. Gronbach, M.J. Moye, John Zogby - foreword
- Narrated by: Tom Parks
- Length: 7 hrs and 43 mins
- Unabridged
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Demographics not only define who we are, where we live, and how our numbers change. For those who can read beyond the raw figures, they open up hidden business opportunities that lie ahead. What will happen when retiring Boomers free up jobs? How will Generation Y alter supermarkets? Which states will have the most dynamic workforces? Will American manufacturing rebound as Asia's population declines? Upside puts this powerful yet little-understood science to work finding answers.
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Needs rework to become an audio-book
- By Kristofer Jarl on 11-18-20
By: Kenneth W. Gronbach, and others
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The Complacent Class
- The Self-Defeating Quest for the American Dream
- By: Tyler Cowen
- Narrated by: Walter Dixon
- Length: 7 hrs and 39 mins
- Unabridged
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Since Alexis de Tocqueville, restlessness has been accepted as a signature American trait. Our willingness to move, take risks, and adapt to change have produced a dynamic economy and a tradition of innovation from Ben Franklin to Steve Jobs. The problem, according to legendary blogger, economist, and best-selling author Tyler Cowen, is that Americans today have broken from this tradition - we're working harder than ever to avoid change.
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MUST READ
- By RJW on 05-06-17
By: Tyler Cowen
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Plutocrats
- The Rise of the New Global Super-Rich and the Fall of Everyone Else
- By: Chrystia Freeland
- Narrated by: Allyson Ryan
- Length: 11 hrs and 38 mins
- Unabridged
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There has always been some gap between rich and poor in this country, but in the last few decades what it means to be rich has changed dramatically. Alarmingly, the greatest income gap is not between the 1 percent and the 99 percent, but within the wealthiest 1 percent of our nation-as the merely wealthy are left behind by the rapidly expanding fortunes of the new global super-rich. Forget the 1 percent; Plutocrats proves that it is the wealthiest 0.1 percent who are outpacing the rest of us at break-neck speed.
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Good Storytelling but ... analysis is "eh'
- By Susan on 11-04-12
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The Impulse Society
- America in the Age of Instant Gratification
- By: Paul Roberts
- Narrated by: Edoardo Ballerini
- Length: 9 hrs and 39 mins
- Unabridged
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Paul Robert digs down to the economic roots of the problem, shows how it has metastisized to affect every facet of our lives and our ability to navigate the future. In clear, cogent prose that mixes illuminating analysis and vibrant reporting, Roberts not only tells the fascinating story of how the impulse society came to be, but shows how, perhaps, a healthier society may still be possible.
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A Must-Listen for Millenials
- By Doug - Audible on 03-31-15
By: Paul Roberts
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Angel Investing
- The Gust Guide to Making Money and Having Fun Investing in Startups
- By: David S. Rose
- Narrated by: David S. Rose
- Length: 6 hrs and 42 mins
- Unabridged
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From building your reputation as a smart investor, to negotiating fair deals, adding value to your portfolio companies and helping them implement smart exit strategies, David provides both the fundamental strategies and the specific tools you need to take full advantage of this rapidly growing asset class.
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Very enlightening
- By Keith L. on 04-06-15
By: David S. Rose
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Average is Over
- Powering America Beyond the Age of the Great Stagnation
- By: Tyler Cowen
- Narrated by: Andrew Garman
- Length: 8 hrs and 42 mins
- Unabridged
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The widening gap between rich and poor means dealing with one big, uncomfortable truth: If you're not at the top, you're at the bottom. The global labor market is changing radically thanks to growth at the high end and the low. About three quarters of the jobs created in the United States since the great recession pay only a bit more than minimum wage. Still, the United States has more millionaires and billionaires than any country ever, and we continue to mint them.
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Disappointing analysis of future
- By JKBart on 12-10-13
By: Tyler Cowen
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Radical Markets
- Uprooting Capitalism and Democracy for a Just Society
- By: Eric A. Posner, E. Glen Weyl
- Narrated by: James Conlan
- Length: 9 hrs and 7 mins
- Unabridged
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Many blame today's economic inequality, stagnation, and political instability on the free market. The solution is to rein in the market, right? Radical Markets turns this thinking - and pretty much all conventional thinking about markets, both for and against - on its head. The book reveals bold new ways to organize markets for the good of everyone.
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Terrible Reader ruins this book
- By Brian W. Veit on 10-30-18
By: Eric A. Posner, and others
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Appetite for Self-Destruction
- The Spectacular Crash of the Record Industry in the Digital Age
- By: Steve Knopper
- Narrated by: Dan John Miller
- Length: 11 hrs
- Unabridged
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For the first time, Appetite for Self-Destruction recounts the story of the precipitous rise and fall of the recording industry over the past three decades, when the incredible success of the CD turned the music business into one of the most glamorous, high-profile industries in the world - and the advent of file sharing brought it to its knees.
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Awesome Book
- By Todd on 08-15-09
By: Steve Knopper
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The Prosperity Paradox
- How Innovation Can Lift Nations out of Poverty
- By: Clayton M. Christensen, Efosa Ojomo, Karen Dillon
- Narrated by: Mike Chamberlain
- Length: 9 hrs and 37 mins
- Unabridged
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Clayton M. Christensen, the author of such business classics as The Innovator’s Dilemma and the New York Times best-seller How Will You Measure Your Life, and coauthors Efosa Ojomo and Karen Dillon reveal why so many investments in economic development fail to generate sustainable prosperity and offers a groundbreaking solution for true and lasting change.
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Simplistic, lack of insights
- By D. Cameron on 05-24-21
By: Clayton M. Christensen, and others
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Competition Demystified
- A Radically Simplified Approach to Business Strategy
- By: Judd Kahn, Bruce C. Greenwald
- Narrated by: Timothy Andrés Pabon
- Length: 14 hrs and 22 mins
- Unabridged
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Bruce Greenwald, one of the nation's leading business professors, presents a new and simplified approach to strategy that cuts through much of the fog that has surrounded the subject. Based on his hugely popular course at Columbia Business School, Greenwald and his co-author, Judd Kahn, offer an easy-to-follow method for understanding the competitive structure of your industry and developing an appropriate strategy for your specific position.
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Prof, we need the figures/graphs that’s in the the book
- By sid on 12-25-20
By: Judd Kahn, and others
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Who’s Your City?
- How the Creative Economy Is Making Where to Live the Most Important Decision of Your Life
- By: Richard Florida
- Narrated by: Mark Boyett
- Length: 8 hrs and 52 mins
- Unabridged
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All places are not created equal. In this groundbreaking book, Richard Florida shows that where we live is increasingly a crucial factor in our lives, one that fundamentally affects our professional and personal prospects. As well as explaining why place matters now more than ever, Who's Your City? provides indispensable tools to help you choose the right place for you.
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Disappointing
- By Mimi Routh on 08-08-10
By: Richard Florida
What listeners say about Rockonomics
Average customer ratingsReviews - Please select the tabs below to change the source of reviews.
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- barnyal
- 06-23-22
great info
The book is full of great info, but it was very difficult for me to listen and retain. maybe it's because I listened to this and didn't read the book. sometimes when there are a lot of data and numbers, it's easier to read. I was a tough listen, but I can't lower my rating because the info was great
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- Brad
- 02-02-20
Excellent
Outstanding. On much more than the music business it helps to understand the digital economy and how it is developing along with broader implications.
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- Rumen
- 07-04-19
Nothing new. Absolutely nothing.
Regurgitation of facts discussed for a very long time. people are irritated by ads. the streaming made the CDs obsolete. Brilliant. And if that is not enough to get your blood pressure up, the voice of the narrator will
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1 person found this helpful