Music markets remain deglobalized
News Source : Marginalrevolution.com
News Summary
- From Asia to the Americas, music charts are increasingly dominated by local sounds.
- Hollywood television-streaming companies are commissioning more local productions in foreign markets, causing consumption of American shows to fall.
- Social networks are connecting the whole world, but so far people are mainly using them to consume local content.
- And as video gaming expands, it too is becoming increasingly tailored to local cultures.
- That is from The Economist, and of course it echoes themes from my earlier Creative Destruction: How Globalization is Changing the World’s Cultures.
It might seem surprising, in a world of global stars, that the 6m Danes, many of whom are fluent in English, listen mainly to homegrown music. And until fairly recently they did not.
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