There's a tipping point effect happening as we speak in the music industry. And it's great to find my company at the forefront of shifting the power back to the musician.
It truly is an exciting time to be in the music industry. It feels as though, as a community, we're getting back to our Woodstock vibes and recognizing that music is, at it's core, an art.
The future of the music industry is, ironically, live music. Specifically, festivals and subsequent streaming of the festival content. It's big money. And the artists are demanding they have greater control over their creative content. Meanwhile, concert production companies are getting bought up by large conglomerate companies right and left. Next on the chopping block in our home town of Austin, Texas, C3 the parent company that produces massively successful hit festivals like SXSW and Lollapalooza is getting bought out by a little publicly traded company called Live Nation Entertainment, Inc. Now you tell me that Live Nation doesn't have an agenda to it's shareholders on revenue and I'll call you full of malarkey. The CEO's salary alone is $7.9M according to Yahoo Finance. Money isn't the enemy here - content control is. These concerts may all start to look alike - filled with the same acts, showcasing a carefully curated group of bands, hand selected by corporations to turn profits. Hopefully not, but it's definitely got me worried about the future of our industry.
From a tech perspective, things are cranking. Here's a recent article from CNBC on the Future of Concerts: Social Wearables and Interactive Light Shows
CNBC added a graph of how people use their phones while at festival, but I think they left off one more piece: tipping the band!