Naxos: Changing the World of Classical Music

Case Solution

Marcus Schuetz, Grace Loo
University of Hong Kong ()

Founded in 1987, Naxos was the largest classical music label in the world. She had achieved this high position as a leader in innovative costs. The chairman of the board, Klaus Heymann, took advantage of the falling prices of CD production and the fall of the Iron Curtain at an early stage. By recording with artists and orchestras in Eastern Europe and paying one-time fees instead of license fees to musicians, Naxos had developed a unique and efficient business model. The company was also a pioneer in web-based music distribution. After showing a knack for taking the right step at the right time, what should Naxos do to maintain its success for the next decade? This case was used in the second McKinsey / HSBC business case competition.

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