Doing Business At MIDEM 2010
There were less attendees at MIDEM, but it was all about quality not quantity on the trade floor

By Simon Adams & Katy Jacks (more articles from this author) 2010-02-07

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There were less attendees at MIDEM this year (although 10,000 listed music professionals and over 3200 companies still represents the largest industry gathering anywhere in the world) but it was all about quality not quantity on the MIDEM trade floor in 2010.

It seems that in the current challenging economic climate, the music professionals that are keeping their business thriving are the ones that are working the hardest in their fields, and maintaining their values and standards, whatever the financial cost. We met with some of the strongest and most genuine people at MIDEM this year, and in an industry that has gone through major changes in the last few years, what is clear is that there is no longer room in the music business for wastage in time, effort or finances.

One of the largest changes this year was that unlike some of the previous shows we have attended such as the Popkomm show in Berlin, the major labels were not front of house. Gone were the large extravagant stands, and in were the country stands full of independent labels hustling their way through the new music industry. It seems that the change is finally here, that independent artists and labels have stepped up to the challenge of a stripped down music industry, and using the ever expanding range of digital toolsets are ready to grab the opportunities that the next few years hold.

In the new music industry, one of the key factors for independent artists and labels is working on the business side of their career, and this means making money. Although music sales may be down, with the right mindset, and the right platform behind you there are ways to make money with your music, but they are in many different areas than we've seen in the past.

One example of the new opportunities that are presenting themselves is the sync market. Not only did we meet with some of the traditional TV, film and advertising agencies, but discovered many new audiovisual partners who were keen to drive revenue to independent artists to help compensate and support their music careers. For the traditional advertising agencies, the challenges they faced were ever shrinking client budgets, which meant that they are now turning away from the larger labels and looking for the independents to provide a more cost effective musical experience for their productions. This provides the perfect opportunity for new artists to serve this new market that was previously a very difficult arena to break into.

The digital arena was out in full force this year too, and again it was the independent companies that shone at the show. From the businesses such as Nimbit who have been steadily building a pathway to the top of the direct to fan model, to new startups that are only just starting to explore new and innovative ways of helping artists reach a global audience online, it was clear from the professionals we met and spoke with that the digital music industry is reaching maturity and ready to serve those that master it well.

From the traditional music professional to the digital only technologists, it was clear from our attendance at MIDEM 2010 that the essential factors to bringing in business in the new music industry is hard work, commitment and finding the right people to build your team.

The music industry may be relying more and more on technology to deliver the goods, but we would all do well to remember that the real business is done by people, and trade shows such as MIDEM highlight the important resurgence of connecting human souls - very fitting considering that's what creates the music in the first place...

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