Terry McBride Speaks on Music 2.0 (London Music Tank event) *via Hypebot

Link: hypebot: Millennials Conference: McBride Speaks. Some high-lights pasted, below, directly from Hypebot - Terry is nailing it!

• Fans are the record companies. Ownership of the song does not lie with the artist or the label or the publishers, but rather the consumer.
• Artists are brands. They may not like the word but that is essentially what they are, and in order to succeed you have to focus on ways of building the brand.
• Amazing technology is available and we should embrace it, build online communities and create opportunities within the digital world.
• We should be selling digital tracks cheaper (the tipping point)......possibly 25 cents. This will dissuade people illegally downloading and you end up making more of a profit from selling a lot of cheap tracks than a few higher priced tracks.
• Make use of metadata (search tags). We are now a society of searchers.
• Explore the concept of feels like free and don’t be afraid to try new things.
• Getting fans involved... Make stems of artist recordings available for fans to create their own versions of artist’s songs. Let fans create band merchandise. Allow fans to make videos and have a competition to see which is the best which can be used as the next music video…Getting fans involved builds the brand and the connection with the artist. It’s economical and extremely beneficial.
• Legislation is not the way to solve the problem. Suing consumers wont make the problem go away.
• Understanding the concept of tribes, millennials have their groups or tribes and within these tribes they will like the same music, clothes etc. Getting early adopters in the tribes liking a band will build exposure.
• In China IP is looked at in a very different way. There music is part of their culture and should be enjoyed by all and not guarded by the creators. They have found ways other than selling CDs to make money from music in Asia, such as live shows, merchandise and ring tones.
• Mobile is a big area that needs to be explored. Asia and India are miles ahead in their mobile technology so are able to consume content differently to Europe and the US.

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Comments

[Gavroche]

In my opinion, "Getting fans involved" is the most critical. Offering them stems is a way to give them a new experience and really immerse themselves in the music. So many fans have DAWs today that the line between artist and fan is often times blurred. Lets fans personalize your music. This is ultimate empowerment and will make the fan feel like he is making his own experience.

[martin atkins]

ABSOLUTELey - sharing music has NEVER been a problem - mix tapes were the REASON i ended up joining Killing Joke - i just kept hearing tracks that i liked - and kept asking 'who is that.....who is this!" the HYSTERIA is just silly - get on with it!
Brands and bands are now forming more interesting relationships, lines are becoming blurred - its a fucking great time (again)

bestestest

martin Atkins
Chicago ILLANOYS