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The platform economy has experienced rapid growth, disrupting traditional business models and contributing significantly to the global economy. [2] Platform businesses are characterized by their reliance on network effects, where the platform's value increases as more users join. This has allowed many platform companies to scale quickly and ...
The platform provider, who is usually the platform sponsor, serves as the contact point for all users of the digital platform ecosystem, providing the platform's core technologies. The interactions among the actors in digital platform ecosystems result in co-created value through various digital algorithms, [ 14 ] enabling the platform to ...
This model of capitalism has emerged and expanded with the rise of the Internet and digital technologies, transforming various sectors of the economy from retail and transportation to media and labor markets. [1] [2] Four main facets of platform capitalism are: crowdsourcing, sharing economy, gig economy and platform economy.
The Platform Canvas is a conceptual framework designed to explain the mechanisms of multi-sided platform organizations, and how they create, capture, and deliver value in the platform economy. [1] Multi-sided platforms, also called two-sided markets , like Amazon , Uber and Airbnb , create value primarily by facilitating direct interactions ...
One such example of online distribution taking its toll on a retailer is the Canadian music chain Sam the Record Man; the company blamed online distribution for having to close a number of its traditional retail venues in 2007–08. [6] One main reason that sales took such a big hit was that unlicensed downloads of music were very accessible.
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A music download is the digital transfer of music via the Internet into a device capable of decoding and playing it, such as a personal computer, portable media player, MP3 player or smartphone. This term encompasses both legal downloads and downloads of copyrighted material without permission or legal payment.
Jukedeck was a website that let people use artificial intelligence to generate original, royalty-free music for use in videos. [ 19 ] [ 20 ] The team started building the music generation technology in 2010, [ 21 ] formed a company around it in 2012, [ 22 ] and launched the website publicly in 2015. [ 20 ]