2. Leadership summary in music
In the music industry similar to other businesses leadership is
a key role for success. With the right leadership an artist can
go from known by their block to known by the whole country.
The right leader should be able to find the right team, manage
the team all while promoting the artist and making sure their
music is quality.
3. Article summary
In this article it gives a brief history of the music industry and
how well sales were for CD’s and switched to mp3 and now
how streaming and internet videos. From there it talks about
“Music is more relevant than ever” and what ideas leaders can
take from music and what they can learn.
4. What Leaders can learn from
music and why it is important!
1. The leadership and talent dimension is critical.
2. You cannot fight technological development and
consumers.
3. You have to be prepared to cannibalise yourself
4. The digital world is in a constant state of flux
5. Disruption equals opportunity. It’s open 24/7 and there is
no limitation in shelf space
5. The leadership and talent dimension
is critical
In recent times with the threat of digital distribution and
streams it has recently become difficult for leaders in the
music industry. With problems of them not being able to sell
as many cd’s for their artist (another cause is illegal
downloads and streams), early leaking of music and more.
6. You cannot fight technological
development and consumers
Consumers of music are changing rapidly through each new
generation. Middle aged consumers are used to buying tracks
and contributing towards the various artists from CDs and
records. Whereas, new generations of today are legally
streaming music; businesses need to keep up with the new
generations for selling music.
7. You have to be prepared to
cannibalise yourself
The music industry needs to be ready for change in profit;
they need to be keeping up with the times and not be afraid to
try something new like putting music online. There may be
some bumps of piracy, but overall uploading music to the
Internet is the way forward.
8. The digital world is in a constant
state of flux.
The music industry is watching a decline in the streaming
world, which is why they are constantly changing their way of
production to consumers. They will release music on certain
days compared to others, and putting their music on different
apps such as Spotify and Amazon.
9. Disruption equals opportunity. It’s open
24/7 and there is no limitation in shelf
space
Now that distribution is more cost effective artist can be
heard all across the world and not have any idea of it. Great
leaders can now focus on the quality of the artist and also
manage them better by not having the limitation of focusing
on how many CD’s to put into stores and get an idea of how
many people listen to an artist.
10. The paid subscription streaming
model is the future
Sometimes advertisements are fine to listen to, but the way
forward in the music business is to have subscriptions to
different music sites. Consumers will more likely pay for a
subscription to pass all the ads, and download as much music
as they can. This way is the way forward.
11. Control the Data
Controlling what the advertisers are getting for their money
is important. They need to see what they will be getting
through these music apps, and they are all very much
interlinked. Ads and music are the new ways of music
production.
12. Great leaders in the music
Industry
Jay Z
Diplo
Quincy Jones
Rick ross
13. Jay-Z
Great Entrepreneur who has taken his experience to help
artist who were under him like :
J.cole
Beanie Sigel
Kendrick Lamar
And more!
He also started his own record label,business and clothing
14.
15. Diplo
A Dubstep artist who created a record label only to teach
younger artist about the game and how it works. Diplo was
one of the first owners of record labels to accept streaming
and digital.
16. Quincy Jones
Quincy Jones is viewed as a legend! He managed Ray
Charles, Stevie Wonder and even produced Michael
Jackson’s Thriller while being his own artist. Quincy now
produces and teaches newer artist.
17.
18. Rick Ross
Rick Ross started his rap career at the ripe age of 32, made
his own record label and signed plenty of artist getting
them out of the hood and teaches them how to be
businessmen all while being an artist.
19.
20. What I think about the article
As someone who is into the music industry I like that it
gives insight of how much the music industry has
changed and how to take advantage of it.
I think this article is perfect for someone who wants to start
a record label or wants to be an artist in the industry.
