Nov 29, 2017 Aino Piirtola
Wednesday morning began with a great talk by Scott Cohen on the current situation of different stakeholders in the music industry. Conclusion being that record labels are doing well as artists are making more money than ever. Music fans are doing fine as well, because music is cheaper and more available everyday. VR will change the way music is consumed and will make the experiences more versatile. Once mixing Peter Vesterbacka from Lightneer into the discussion, the path took a turn towards wondering whether music and games really are such different industries. In the end, in order to be one step ahead, one must think of all the existing opportunities and technologies to find the best way to follow.
The morning went on with talks on new ticketing solutions, not-your-grandmother’s blockchain, and data. Especially latter two are topics discussed very often in the field: there are so many opportunities that a good use of data could reveal and well functioning blockchain could enable. After more technical talks we came to the more musician centered phase of the day. The major beginning for the topic was the conversation with Stu Bergen, where the role of the Nordics as a musical wonderland was discussed in addition to the power of China together with the co-founder of Slush Music, Kalle Lindroth.
From an artist perspective, two interesting talks were given, the other by Spotify’s Daniel Breitholtz and Johan Seidefors who told the audience stories on the power of playlisting. The key in making the most out of Spotify is that the musician has the data behind the song. Data is more powerful than gut feelings, although the music has to make the listener feel good. This can be used for artist-fan engagement as well, which becomes more and more crucial as the competition for true fans becomes tighter. Another topic for artists and others seeking success in music was Gregor Pryor’s Top 10 Fuck Ups. Real life stories on unsuccess is a pretty effective way of telling one what not to do while climbing up the ladders.
Investing in creators is also a topic most artists would love to learn more about. An estonian startup, Fanvestory, just launched a platform where fans can directly invest in their idols. John Acquaviva, a creator and an investor himself participated in the discussion with Julia Hawkins from UMG stating that the most important feature in investing in a creator is a vision that doesn’t become outdated in 10 years from now.
Meanwhile on other stages, our guests had the chance to get to know the world of AI, future of the instruments and YouTube better. YouTube was also a topic the guests had a chance to tackle in various workshops. How to use YouTube in branding and as a tool to make yourself known among the people who could be interested in you.
Before the closing words of the event, Che Pope was invited on stage to share his entrepreneurial life story in the music business. The first part of the discussion was about Che’s path in music and working with world famous artists. Entrepreneurship was highlighted and a story told on Jay-Z pitching a music startup, Tidal, he’s been investing in. Not all ideas appear good at the first place, but with hard work and patience they’re making things better. In the end, Tidal seemed like a good idea to Che as well. In the middle of the interview with Allison Shaw, Christopher Leacock jumped in on stage to discuss life as an artist from different perspectives. The discussion ended with encouraging words, “don’t give up” by Che, who wanted to empower all entrepreneurs in the field to work hard and follow one’s passion.
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Scott Cohen, Founder of The Orchard, says he has people come up to him all the time, saying the same thing: “The music industry is broken, but I know how to fix it.” We’ve all heard this, at least the first part. Many people seem displeased with the state of the industry today. Cohen, on […]
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