the next big thing...
i've been quietly networking to find a few folks to bring together into a "think tank" forum to brainstorm about newly emerging music business models. i'm convinced that the newer models won't simply see technology as means to market, but as an inherent part of the model itself.
but big ideas aren't enough. they also need to be monetized and sustainable. which is why i want to consider not only emerging models but also a methodology for taking concepts form the drawing board to the streets.
and more than anything, i want to see those ideas emerge out of nashville. it's going to take more than talented musicians, songwriters and artists. it's going to take a reframing of our ideas of "creativity." it's going to take a commitment from the chamber of commerce to see the importance of the developing tech community here. it's going mean we'll need to pull our heads out of our asses and realize that rather than trying to protect the status quo, we need to embrace the destructive power of chaos and let go of the safe and familiar.
i'm also convinced there are lessons to be learned from today's global digi-culture that has been growing exponentially over the last ten years. those of us with experience need to be mentoring the new movers and shakers, spotting new creative talent, giving them a fertile place to grow and test their ideas. and we need to be willing to learn something new, too. to realize that anything that moves us to a place of discomfort is a potential catalyst for our own evolution.
what prompted this forum topic is an article from the christmas eve edition of the new york times about a student project that seeks to, literally, find "the next big thing." it's elegantly simple in design. and already landed the students some venture capital to develop the idea further.
here's a short excerpt from the article, and the full story is available at this link.
For the ailing music industry, every new idea is a potential life-saver. Four classmates at Northwestern University knew this when they developed a Web site called The Next Big Sound (thenextbigsound.com) as part of an entrepreneurship class last winter. Inspired to think big, they designed a site part MySpace and part “American Idol”: a self-contained electronic stage where users vote on new, unsigned acts. “We want to help change the music industry,” says Alex White, 22, who graduated in June with a degree in education.
Registered users — it’s free to sign up — can act as “moguls” who scan through thousands of demos and show their approval by “signing” artists, though there are no actual contracts. Since the site opened in August, 2,000 would-be moguls have enrolled, making 9,000 signings. The more bands and moguls sign up, Mr. White says, the better it reflects people’s taste.
What sets their site apart from offerings on social networking sites is the principle of scarcity. On MySpace, users endorse acts by adding them as friends; emerging groups often tout their numbers as proof of popularity. But there’s no way for a record label to know how devoted those so-called friends are, since users can add unlimited numbers of bands. On The Next Big Sound, users can sign only 10; to support that 11th they have to drop a band, indicating a strong endorsement of their chosen 10. “If you get enough people doing that, the cream will rise to the top,” explains Troy Henikoff, who teaches the entrepreneurship course. As part of the class, students present their ideas to venture capitalists. The Next Big Sound got $25,000 in seed money.
so have at it. build on the idea. what do you think is brilliant? what do you think is bullshit? how would you make it better? does it give you ideas for another approach?
i thought it would be interesting to take more of a "laboratory" approach, having a freeform discussion that might lead to some interesting "ah ha" moments.
you game?
update: to those of you new to the discussion, there are some great thoughts here and certainly a lot of stimulating conversation. however, due to the nature of the coding for the forums, the reply "trees" can jump around a bit. this means that the discussion doesn't always flow chronologically (though you can easily see the date when posts were made.)
there's a lot of material here to wade through, but i'd encourage you to read first and then jump into the discussion.
but big ideas aren't enough. they also need to be monetized and sustainable. which is why i want to consider not only emerging models but also a methodology for taking concepts form the drawing board to the streets.
and more than anything, i want to see those ideas emerge out of nashville. it's going to take more than talented musicians, songwriters and artists. it's going to take a reframing of our ideas of "creativity." it's going to take a commitment from the chamber of commerce to see the importance of the developing tech community here. it's going mean we'll need to pull our heads out of our asses and realize that rather than trying to protect the status quo, we need to embrace the destructive power of chaos and let go of the safe and familiar.
i'm also convinced there are lessons to be learned from today's global digi-culture that has been growing exponentially over the last ten years. those of us with experience need to be mentoring the new movers and shakers, spotting new creative talent, giving them a fertile place to grow and test their ideas. and we need to be willing to learn something new, too. to realize that anything that moves us to a place of discomfort is a potential catalyst for our own evolution.
what prompted this forum topic is an article from the christmas eve edition of the new york times about a student project that seeks to, literally, find "the next big thing." it's elegantly simple in design. and already landed the students some venture capital to develop the idea further.
here's a short excerpt from the article, and the full story is available at this link.
For the ailing music industry, every new idea is a potential life-saver. Four classmates at Northwestern University knew this when they developed a Web site called The Next Big Sound (thenextbigsound.com) as part of an entrepreneurship class last winter. Inspired to think big, they designed a site part MySpace and part “American Idol”: a self-contained electronic stage where users vote on new, unsigned acts. “We want to help change the music industry,” says Alex White, 22, who graduated in June with a degree in education.
Registered users — it’s free to sign up — can act as “moguls” who scan through thousands of demos and show their approval by “signing” artists, though there are no actual contracts. Since the site opened in August, 2,000 would-be moguls have enrolled, making 9,000 signings. The more bands and moguls sign up, Mr. White says, the better it reflects people’s taste.
What sets their site apart from offerings on social networking sites is the principle of scarcity. On MySpace, users endorse acts by adding them as friends; emerging groups often tout their numbers as proof of popularity. But there’s no way for a record label to know how devoted those so-called friends are, since users can add unlimited numbers of bands. On The Next Big Sound, users can sign only 10; to support that 11th they have to drop a band, indicating a strong endorsement of their chosen 10. “If you get enough people doing that, the cream will rise to the top,” explains Troy Henikoff, who teaches the entrepreneurship course. As part of the class, students present their ideas to venture capitalists. The Next Big Sound got $25,000 in seed money.
so have at it. build on the idea. what do you think is brilliant? what do you think is bullshit? how would you make it better? does it give you ideas for another approach?
i thought it would be interesting to take more of a "laboratory" approach, having a freeform discussion that might lead to some interesting "ah ha" moments.
you game?
update: to those of you new to the discussion, there are some great thoughts here and certainly a lot of stimulating conversation. however, due to the nature of the coding for the forums, the reply "trees" can jump around a bit. this means that the discussion doesn't always flow chronologically (though you can easily see the date when posts were made.)
there's a lot of material here to wade through, but i'd encourage you to read first and then jump into the discussion.
Tags: 2.0, big, business, entrepreneur, future, music, next, thing
Replies to This Discussion
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Permalink Reply by iV on -
i was responding to your statement that "it would boil down to who has the most consenting members," which sounded like advocating that the majority rules...and hence my question about who that majority would be.
we're once again on the verge of discussing politics, which is only natural when we begin to discuss rights. and this is a thorny question. what are the limits, if any, to "my" intellectual or creative "property." i certainly wouldn't advocate subjective progressivism, but neither would i bow at the alter of objectivism, either.
before we can discuss the confiscation of property, we need to define what that property is...and exactly what ownership entails. as we know, the "exercise of one's rights" can often be used as a rational for bullying and control, just as much as an attempt to "deny one's rights."
i'm not sure if this particular discussion takes us too far away from the other questions we're asking, or if in the end, these are the essential questions. from the stand point of andrew dubber, who i mentioned in an earlier post (which might be a later post...this thread is out of control - in a good way!) the intellectual property laws are potentially roadblocks to creative development. one man's ownership is another man's oppression.
and no. i didn't just play the race card. :) -
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Permalink Reply by Rolff Zwiep on -
This brings up a good question. With what format do we deliver the goods on? In the days of actual records, no one really had the means to manufacture records without the technical equipment once the tape was recorded and ready for pressing. (Would the public have pirated then if it was possible to copy records on your kitchen table?)
Food for thought.
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Permalink Reply by Bret Teegarden on -
I think that is what needs to be invented. A new format. Something so simple and affordable that people would flock to get their music delivered on it. Stand in line for product. But something has to level the playing field where each persons efforts are rewarded thus encouraging the gifted artists to continue.
Why is it many disdain successful people and want to strip them of their wealth all the while they try to attain success and wealth for themselves?
personally, I don't want to be in that camp.
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Permalink Reply by Bob Olhsson on -
I think much as in the past there will be two categories, albums and singles. Singles will probably be down-loadable files and albums will be lavishly packaged much like today's box sets.
Storage with rotating parts is obsolete. There'll be some new solid state album package. The creative possibilities of this are unprecedented. I expect the album files to have their own integrated player application which will give the artist control over the user interface. It's a very exciting prospect.
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Permalink Reply by iV on
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i like this idea.
i can imagine it more as a "pricing tier": some content will be free, some will be available at one price point, at an even larger price point will be more "exclusive" content. what i like about the "solid state album" concept is that in effect, you're ultimately not selling the content but the packaging (or the experience...the album might involve some kind of augmented reality programming.)
definitely food for thought.
there are artist already experimenting with the tier concept. it's also a similar idea that's being used by we7 (founded by peter gabriel) -
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Permalink Reply by iV on
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as we were throwing around these ideas, apple has been leaking news to the press of its new "tablet," which is essentially a supersized ipod touch. today, the feeds are buzzing with the news that apple may be working in connection with all the major labels to create a new generation of digital albums: "apple wants to make bigger purchases more compelling by creating a new type of interactive album material, including photos, lyric sheets and liner notes that allow users to click through to items that they find most interesting. consumers would be able to play songs directly from the interactive book without clicking back into apple’s itunes software..."
the launch is rumored to be sometime this fall...which is also the time when the new tablet is rumored to hit the market place.
another interesting rumor is that other online music sites may be developing their own "digital album" alternative. note: if you follow the link, make sure you read some of the interesting comments to the article
it will be interesting to see that, if the rumors are true, what potential shifts occur in the quarter 4 of 2009. -
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Permalink Reply by Bob Olhsson on
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I can't imagine how we will shame people into not looting anything they can get away with. The intellectual property rights laws need to be enforced and this requires certain consequences for those who violate the law. This is not nearly as big a challenge as the investment bankers who want to see cheap "content" would have one believe.
The CD and all other moving parts media carriers are obsolete. In a files-only world looting can and no-doubt will be made a lot less convenient without hampering the legitimate user at all. What I think is colossally important is that songwriters and artists not surrender their rights based on the assumption that mass piracy is inevitable.
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Permalink Reply by Bret Teegarden on
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AMEN BOB!!!!!
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Permalink Reply by iV on
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agreed, bob. any attempts at educating the public on the evils of copyright violation haven't seemed to work. and neither has trying to sue their asses into oblivion.
and it would seem that some of the rights owners have retreated. drm appears like it will be a thing of the past. how do songwriters and artists fight this battle?
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Permalink Reply by Bob Olhsson on
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The CD makes piracy stupid easy. DRM is still around. The fact that taking it off doesn't seem to have stimulated any additional sales speaks volumes. For all of the whining about DRM in the tech press, it's obviously a non-issue to the average person.
Microsoft cutting off people is specious but that didn't need to be the case. We'll probably see the labels come up with their own that doesn't tie the user to Apple or any other internet distributor. -
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Permalink Reply by Rolff Zwiep on
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What Bret said!
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Permalink Reply by Joe Pasquale on -
http://www.nytimes.com/2009/07/22/technology/internet/22music.html?...
“We are all witnessing major labels starting to shed artists that are hitting only 80,000 or 100,000 unit sales,” said Adam Driscoll, another Polyphonic founder and chief executive of the British media company MAMA Group. “Do a quick calculation on those sales, with an artist who can tour in multiple cities, and that is a good business. You can take that as a foundation and build on it.
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