Building The 100 Billion Dollar Music Business At The New Music Seminar
New Music Seminar is back on June 9-11 in New York City, ready to tackle the challenge of building the 100 billion dollar music business
Earlier this year, NMS Founder and Executive Director Tom Silverman hosted the "Building the $100 Billion Music Business," panel at Midem bringing together executives from Samsung, Spotify, YouTube and Sony Music to address the issues and potentials concerning the interplay between new technology platforms and the music industry. That panel started the conversation for the more intensive discussions that will take place at NMS 2013. 150 music industry visionaries and leaders including Atlantic Records Chairman & CEO, Craig Kallman; Spotify VP of US Ad Sales, Brian Benedik; Virgin Records COO, Ron Fair; SoundExchange President Michael Huppe; RCA President, Tom Corson; The Windish Agency President, Tom Windish; Glassnote Records Founder & President, Daniel Glass; Pledge Music Founder & CEO Benji Rogers; and Fox Rothschild LLP Partner, Michael Reinert will gather to explore the new and developing ways in which the record business can work with technology and digital services to create revenue growth for both industries.
"We are entering an era of more and more connection, be it via cell phones, cars, or televisions. When all these devices are connected and come with music, the business can become four times bigger without selling any more records. Activating the developing world, activating the music passives and eliminating friction from music use, this is how we get to the 100 billion dollar business," remarked Tom Silverman.
NMS takes aim on how to grow a bigger business by looking beyond selling records. New channels of music discovery and exposure coupled with new revenue opportunities will be probed in sessions such as: "Building the $100 Billion Music Business: It Can Be Done," "Beyond Crowdfunding: Campaigns To Tap Into the Lost $2.5 Billion," "Getting to a Billion Music Subscribers, Opportunities and Concerns Along The Way," and "The Digital Radio Advertising Explosion: The Fuse is Lit."
Partial listing of Movements and Players:
Building the $100 Billion Music Business: New Ways to Monetize Music in the Market Place. The music business has turned around with growth that is driven by exciting new non-unit sales revenue opportunities. Music can be bundled with all connected devices and connection services. What is the path to doubling the US music business in the next decade? What can artists and labels do to accelerate this new revenue growth? Confirmed players: Axel Dauchez (CEO, Deezer), Jeff Toig (Founder, Senior Vice President, Muve Music), Ron Wilcox (Executive Counsel, WMG), and Michael Abbatista (Global Head of Telecom/ISP Partnerships Spotify), and Conductor Ralph Simon (Co-founder, Zomba Group)
The "Beyond Crowdfunding: Campaigns To Tap Into The Lost $2.5 Billion" Movement will take a closer look at the Nielsen study, micro music investments and the JOBS (Jumpstart Our Business Startups) Act that will soon allow fans to own equity in artists' albums or tours, driving revenues even further. Confirmed Players: Martin Atkins (CEO, Bohemia Group), Jeremy Gruber (Director of Business Development, Concord Music Group), Benji Rogers (Founder & CEO, Pledge Music), Vlad Vukicevic (Co-Founder & CTO- RocketHub), and Mike Doughty (songwriter/performer, Snack Bar), and Conductor Glenn Peoples (Billboard)
"Getting to a Billion Music Subscribers, Opportunities and Concerns Along The Way," will cover the fastest growing part of the music business. With 100 million television subscriptions, 24.4 million SiriusXm subscribers and 321 million mobile subscriptions in the US, there is great potential for revenue growth if the record business seizes the current momentum. How can the music industry work with subscription services to drive subscriptions to 100 million and beyond? Confirmed Players: Jim Cady (President & CEO, Slacker), Jon Irwin (President, Rhapsody), Andy Chen (CEO, WIMP), Mark Piibe (Executive Vice President, Global Business Development and Digital Strategy, Sony), and Steve Blatter (Vice President, General Manager, Music Programming & Digital Music, Sirius XM Radio)
In "The Digital Radio Advertising Explosion: The Fuse Is Lit," Players (speakers) will discuss what happens as online radio becomes more than 10% of all radio listening. How are advertisers adapting to this new medium? What are the impediments to advertising growth in the online radio sector and what are its possibilities? How can webcasters, artists and the music industry work in concert to grow revenues for each other? This panel is part of the SoundExchange Digital Broadcast Summit. Confirmed Players: Kurt Hanson (Founder & CEO, Accuradio), Brian Benedik (VP/North America Ad Sales, Spotify), Tim Castelli (President, National Sales, Marketing & Partnerships, Clear Channel), Alex White (Co-Founder, Next Big Sound), John Rosso (President, Market Development, Triton Digital), Steven Kritzman (Sr. VP of Advertising Sales, Pandora), and Conductor Andrew Hampp (Billboard)
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