The Concentration of Commercial Success in Popular Music: An Analysis of the Distribution of Gold Records
14 Pages Posted: 24 Feb 2013
Date Written: December 1, 1994
This paper examines whether commercial success in the popular recorded-music industry, as measured by gold-record output, conforms to an empirical concentration. We find that Lotka’s Law overestimates the number of artists with one gold record and underestimates the number of multiple-gold-record performing artists. However, for all measures of “successful” records, the Generalized Lotka’s Law provides an excellent fit, which suggests that the number of performers producing n gold records is about 1/nc of those producing one gold record.
Keywords: Lotka's Law, Generalized Lotka's Law, gold records, music industry, commercial success
JEL Classification: A14
Suggested Citation: Suggested Citation