The music industry sometimes reminds me of the parable about the blind men and the elephant. Each blind man grabs the elephant in a different place. One man grabs the legs and tells his friends, “Elephants are round and tall like a tree.” A second blind person grabs the trunk and says, “This elephant is like a snake.” A third touches the animal’s side and says, “You are all wrong, the elephant is like a giant wall.” As a result, all three blind men end up with completely different descriptions of their experience.
When it comes to understanding the rapidly evolving music industry it’s no wonder that most everyone, like the blind men in our parable sees something different. There’s new music distribution formats, marketing opportunities, social media engagement strategies, artist entrepreneurs, brand equity dynamics plus evolving digital and analog revenue streams. How is anyone to find the best pathway through this thorny thicket?
Of course, the blind men would have been better served if they had simply taken the time to study all sides of the elephant before reaching their conclusions. Similarly, education and sharing of ideas will likely improve one’s chances of navigating the music industry.
To help you better define the beast we bring you three new offerings this week.
Learning and community never goes out of style, and so we reached out to Leadership Music Summit co-chair Cameo Carlson for the inside details on the organization’s upcoming Sept. 10 event. Carlson not only makes the case why we all should be in the seats for this full-day of panels, case studies, keynotes and more; but kindly offers NEKST readers a juicy discount. Click HERE.
The next link is a Nielsen SoundScan analysis that begins with a discussion about a controversial subject of extreme importance—Does Streaming Cannibalize Sales? To be fair, the jury is still deliberating, but this article suggests the relationship between streamers and consumers may be entering a second phase that will further shift consumer spending habits. Click HERE.
And arguably, saving the best for last, we draw your attention to Building Brands In The New Heartland. This interview is with the brilliant Chief Strategist of Access Brand Strategies, Paul Jankowski. Jankowski’s name is long, but his list of accomplishments is even longer. His company put together deals between Lady Antebellum and Lipton, Jason Aldean and Mountain Dew and Blake Shelton and Pepsi, to name a few. He defines the New Heartland as being 60% of U.S. consumers and talks about what you need to know to engage them effectively. Click HERE.
On Music Row the elephant in the room is hard to describe. It’s new technology and format-driven business models served against an ever-changing lineup of fresh faces and ideas. Our goal is to bring some of the answers your way… thanks for reading!