o:35560 Value Chain Identification and Impact of the Music Industry on Employment in Serbia en ABSTRACT: Research Question: The aim of paper is to identify value chain of the music industry and to determine the impact of music industry on employment in Serbia. Motivation: Creative industry is a very attractive topic among both scholars and professionals. A total of 52 sectors are considered as creative industry sectors, including music industry. Our goal was to identify the impact of the music industry on the economy, in addition to the entertaining and amusement value of the music. In order to do so, our goal was to understand all the sub-sectors and activities within music industries. Idea: Although excising NACE nomenclature of activities is rigid, our goal was to identify music industry activities within NACE codes, and to define how the value creation is distributed among various activities within the music industry value chain. Data: Measuring employment is based on combining data from the official statistics entities. Tools: Research required data on the four-digit level of activity (NACE), that were cross-referenced with the findings of the primary research and defined value chain activities of the music industries. Findings: The paper analyses the complexity of the value creation and value chain in the creative industries, specifically in the music industry. Findings support excising literature review and confirms complexity of the value chain in the music industries. In addition, the paper adds value to the scientific research by presenting novel approach that is based on using the Porter value chain model in the music industry and identifying a total of 29 activities within. Further, using created value chain model, paper results demonstrate the impact of the music industry on the employment in Serbia, that has been growing over the analysed period, no matter the COVID19 crisis. Contribution: The paper expands the existing research related to creative industries and formulates the music industry value chain activities. The significance of this paper stems from the fact that, similar to other sectors within the creative industries, music industry is insufficiently covered by the data of the national statistical authorities. In addition,the paper measures the music industry impact on the employment in Serbia. Keywords: creative industries, music industry, value chain, economic impact, value creation, employment 1552099 10.7595/management.fon.2024.0008 1552101 1820-0222 2025-01-14T11:09:34.705Z 44 no 46 Igor Kovačević Univerzitet u Beogradu Ekonomski fakultet 0000-0003-3172-4418 Branislava Hristov Stančić Univerzitet u Beogradu Ekonomski fakultet person 0000-0002-1285-6485 application/pdf 281081 https://phaidrabg.bg.ac.rs/o:35560 no yes 18 70 1552253 11A03 Management:Journal of Sustainable Business and Management Solutions in Emerging Economies 29 2 51 60 Beograd FON 2024