I Have Seen What the Future of The Music Industry Looks Like, and it’s Awesome
Want to know what the future of the music industry looks like, in terms of how the business side of music is going to make money, now that nobody buys music anymore?
Fundamentally its the same reason why I stepped down from my record label (Katalyst Music Group) in 1999, to focus on this little thing called the Internet that I thought had some legs.
The major music industry players today, are taking the little money they are making from music (and when I say “little” I mean it comparatively, to what the profits used to look like), and are parlaying it into the real rock stars of the twenty century, coder/CEOs of start ups. Below Billboard has a really good article about how music managers Guy Oseary, Scooter Braun and Troy Carter (Madonna, Beiber, and GaGa’s managers respectively), have been very focused on investing in tech. Because they are so connected, Scooter Braun (whose 31), had a start up CEO over at his house and liked his business model he makes some big things happen from the toilet.
This is my favorite excerpt from the article, written from the CEOs perspective:
“I was at Scooter’s house, and he was saying he was going to get these influential and cool people to invest, and then he just disappeared. I asked Brad, ‘What happened to Scooter?’ Suddenly my phone starts buzzing and I got an email from Mark Cuban being like, ‘Send me the deck, please.’ And in the next 20 minutes I get emails from Cuban, Ryan Seacrest, Ellen DeGeneres and [an A-list actor and a major pop star who didn’t end up getting involved], and Scooter’s still not in the room. Then I go back to Brad and say, ‘Is Scooter in the bathroom?’ and he says, ‘Yeah, it happens all the time. He’s most productive in the bathroom.’
Read the rest of the article here…