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The quest is to turn followers into fans and fans into customers predominantly via social media. Indie companies stand better chance as they are closer to the fans than commercialised companies
ANNES was again in my travelling list this year. I was there over Chinese New Year this year for MIDEM, a similar deal to MIPCOM, MIPTV or Film Festival where international deals for music are sought. Flanked by various useful industry seminars, dialogues and talks, the visit proved to be quite informative, particularly those in the creative industry such as music. MIDEM was held at Riviera Halls, Palais de Festivals. This was the second time the Malaysian delegates appeared at such event. The delegation was organised by Recording Industry Malaysia (RIM) and supported by the Dasar Industri Kreatif Negara (DIKN) officials in association with the Prime Minister's Office (Malaysian), Matrade and the Malaysian Embassy in France.
1. Acclaim Music (M) Sdn Bhd
2. Goldkartz Productions
3. Loonaq Sdn Bhd
4. Luncai Emas Sdn Bhd
5. Rock Unite Inc Sdn Bhd
6. Rumpun Records Sdn Bhd
7. Dark Liquids Music Production
8. Suwah Enterprise (M) Sdn Bhd
9. Suria Records Sdn Bhd
10. KRU Music Sdn Bhd
11. Nova Music Sdn Bhd
12. Agi Music Sdn Bhd
13. S100 Entertainment Sdn Bhd
14. Shila Amzah Entertainment Bhd
15. Life Records
16. The MoveMint Sdn Bhd
17. Global Creative & Media Agency Portal Sdn Bhd
Apart from the Malaysian Chapter, I was also impressed by the knowledge exposure one can get from the event. I feel compelled to share this in this blog. The ideas and information obtained at MIDEM are very bold and certainly means a lot to the promotion of the music industry. In not so much elaboration, here are some salient points:
BUILDING BRAND AROUND MUSIC
Artists-Fan Engagement is a must especially top 10 fans who will spread relevant information regarding the artists, the music and movements to the pyramid of followers. This is to create positive impact by synchronising communication with what the fans can relate to. Make it an experience.
Diversify revenue source through 360 degree consideration ( eg. Artist endorsements, merchandising, tour, social media content, etc). A new method is Fan Crowd Financing, where the sales from fans are secured before the production of offerings (e.g. Fan’s name/photos appearing on the album cover/booklets at a price).
YouTube as teaser is more meaningful than the full blown version of YouTube for music videos. The teaser should have linkages to the full version or any other related content that requires subscription of on-line streaming purchases. If not, USD750 million worth of revenue will be at stake as YouTube accounts for 64% of music video viewed globally.
Riding on established brands helps accelerate fan base growth. This is done via careful matching of artists’ image to the psychological selling points of the brands (e.g. If an artist is active in sports, get them for Nike or Adidas endorsements). However, the profile of the artists and its endorsement remuneration must match the profile of the related brands. A high profiled artist should go for high profiled brands and earn high income. This will ensure future sustainable acceptable income level for the artist. A new artist then starts with lower profiled brands.
The quest is to turn followers into fans and fans into customers predominantly via social media. Indie companies stand better chance as they are closer to the fans than commercialised companies.
IDEAS SHARED AT OPEN PITCH
Music to the dance (as opposed to ‘Dance to the Music’) concept where you dance and the system will produce music accordingly.
Music marketplace that provides online networking and deal facilitator for all participants of music industry such as singers, musicians, song writers, lyricists, sound engineers, recording studios, promoters, concert organisers and merchandisers.
'You Will Never Concert Alone' idea where a fan matchmaker works online to intelligently match profiles of fans who belong to the same interest groups (i.e. favourite artists, favourite genre, location, etc) and help organise various aspects of concerts such as ticketing, transportation, etc.
Match music to mood where the system will get indications from users (via photo selection) to curate list of songs to match the mood of listeners. The curators will be artists who will compile songs that they would listen to for those particular moods.
Integrated music catalogue system that links all aspects of music management that encompasses catalogues, licensing, financial management, scheduling, communication, royalty calculations and collection methods with relevant intellectual property authorities.
Personal music butler via mobile device curates the daily music for you based on your activities. It tells you what to do in your daily activities in accordance with your pre-set diary and matches a music to it (e.g. Jogging). It also gives you current updates on your preferred subjects such as football scores, business news, weather forecasts, etc. Most importantly, it voices out status updates of your various social media channels.
Where do indie musicians go to for digital channels? Mega digital music distributors like iTunes or Spotify requires at least 230,000 streamings before any music can qualify to be on its sales catalogue. This is counter productive to emerging artists. An Indie digital music store cum social media can solve this issue.
Content subscription of viewing artists’ lives behind the scenes (e.g. behind concert stages, rehearsals, recording sessions, etc) can provide significant revenue streams. An online service to cater for this market has strong demands as there are millions of fans who will pay for such privileges. Fans spend on average USD400 per year – a pool worth growing.
Fan chooses the genre flexibility of songs if there is a device that can allow them to creatively change the beat, the musical instruments track, the song arrangements, adding new sounds, etc. When done on existing songs, the fans create their own remix. This can do well in music schools for music programmers. The product is already being sold in many music schools in Europe.
LEGAL UPDATES
CANADA: Copyright Infringement is not limited to the exact copy but also the similarity of the content and it extents to include the loss of revenue for derivative source of revenue such as merchandising that relates to the original content being copied. [Cinar vs Robinson, 2013 SCC 73, Canada]
FRANCE: Anti-Piracy Act withdrawn!! in France. The Act was initially adopted in 2009 using a 3 strikes method where actions are only taken after 3 warnings, after which, websites are blocked. This was “deemed” as going against “freedom of Speech”. The French Government will be reintroducing a revised version of the Act to counter piracy. Importance of definition of “format” of distribution in legal agreements is the take away point from Spedidam vs Digital Stores where the former represents artists who lost in their battle to claim digital distribution.
GERMANY: Exclusion of “Streaming” from Copyright enforcement further increases industry players' jittery against piracy. However, the streaming company will be legally liable if the material relates to sensitive information. Google is exposed! Discussions is still on-going for legal aspect of 2nd hand sales of music media.
BELGIUM: Pornography with music background gets away! It seems that music that is indirectly recorded in pornography production as a result of the central hotel in-house music is out of the control of the production team and it has no consequential effect on the quality of the production. Therefore no infringement offences can be charged (to the pornography producers).
RUSSIA: Artists must show proof of copyright and infringement before the authorities can block pirate web sites. This is from the new anti-piracy law that was recently released in Russia.
The UK: Artists for unreleased recordings in the past gets royalties for 20 years although there are no legal agreements to cover it. This is to ride on the strong physical CD sales (64% of music sales in the UK) as opposed to digital craze that the rest of the world is experiencing. By the way, the #1 band currently in the UK is One Direction. Go figure...........
That pretty much sums it all. That's all folks!
* kopihangtuah
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