Friday, May 9, 2008

SanFran Music Tech Summit: "The New Music Economy" (& Age-Old Truth)

During yesterday's SanFran Music Tech Summit, Cory Denis, of Rumblefish, asked the audience and the panel of the "Marketing and Branding in the New Music Economy," aka the current climate of music business in this hyper-connected, hyper-branded, streameable, digital-downloadable, licensing-deal rife age for it's defining attributes.
Such conversations were the norm at the summit, held at the Kabuki Hotel in Japantown, where a contingent of music makers, social media mavens, agents, labels, marketers and tastemakers such as Denis gathered to discuss the state of the music business.

The results of Denis's research & poll, which included influential panel members Naveen K. Jain of Sparkart, Karl Wente, Heidi Richman and Vince Wilburn, Jr., the nephew of Miles Davis who is key to managing the estate, have been posted in a new Wikipedia entry. You might want to check it out.

Despite all the wranglings, evaluations (another panel Q: "whose been most influential: Myspace, Itunes or YouTube?" A: a toss-up) and prognostications, a couple age old truths cut through all the jargon, copywright wrangling, licensing, sound quality, and a new "usage-based" universe of music moneymaking.
To whit:
  • Word-of-mouth from "cultural sherpas," (aka a blogger/musician like Dave Allen who was on another panel), those people who keep their ear to the ground no matter what the business or hardware climate, still reign supreme in providing musical direction that's trustworthy.
  • Solid chops and great songs, whatever the genre, will have legs no matter if it's travellying by lp, cd, cassette tape or stream.

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