Recap: Music + Tech
recap: Music + tech
Spotify, SoundCloud, Bandcamp and Pandora have caused a revolution in the music industry; ande e heard from the leaders who make the noise in the music and tech space. Steve Greenberg, founder of S-Curve Records, moderated a conversation with DeJuan Wilson, SoundCloud's VP of Global Marketing, John Dabrowski, Marketing Manager of 'Stache Media, and Lars Murray, the SVP of Music Maker's Group at Pandora about the future of the industry.
Making Money in Music
If you're looking to work in the music industry you should be aware of the biggest change in the industry — the shift from unit sales to streaming. The artist used to get their money up front, but with streaming there is much less money up front. 70% of all revenue in the industry is coming from live performances. Panelists from Pandora and SoundCloud go deeper on making money in music.
Breaking Into the Music Industry
If you're looking to work in the music industry, where is the best place to start? Lars Murray, Senior Vice President of the Music Makers Group at Pandora, advises students to get an internship with a management company because they have a full global view of their artists. The manager and an artist, if they have a successful relationship, act as one.
If you can take that experience and then start managing acts on your own —even better.
Marketing in Music
Marketing is a key skill set in the music industry because it's the one thing that's going to continue across any future evolutions. Understanding streaming digital and how they work and how they fit into the music ecosystem is critical. Panelist Lars Murray, Senior Vice President of the Music Makers Group at Pandora, says his fundamental job used to change every 18 months, but now it changes every 18 days — so you must be flexible and know that what's happening now in the streaming universe will change and rapidly.
Streaming Music & Social Media
DeJuan Wilson, Vice President, Global Marketing & Brand at SoundCloud, sees the future of music closely intertwined with social media with the integration of music strongly converging onto social platforms. Bringing those two worlds together is a big part of the next wave in music. The connection between the artist and the listener is the next wave of the connection of community. Where do you see the next wave of the music industry headed?
The Next Shift in Music
The closest thing to a major paradigm shift which we're seeing right now is the shift from the visual interface to the voice interface. Lars Murray, Senior Vice President of the Music Makers Group at Pandora, details the significant shift in going from accessing your music by voice as opposed to going to a website or seeing it on your phone. Moving to voice command to get your music forces companies to answer the question of how they will surface music to their audience. How does that ecosystem work?
Are You A Hustler?
What does it mean to hustle? For some that means always showing up. Going to events, being a super-networker and also being extremely persistent. Understanding that it takes a lot of impressions for someone to notice you. Acknowledging that you're going to get told "No" a lot, so having a thick skin is absolutely necessary. Last, but not least, staying committed. If what you're going after is your passion and something you believe in, don't give up.