Chinwag Live: Music - Who Pays the Piper?
As music streaming services take off, will marketers make the jump from radio and pay the bill? Or is it time we paid the piper?
Personal digital music consumption is changing, from a world where paid-for downloads are dwarfed by illegal file sharing. Meanwhile, new services like Spotify have taken consumers by storm adding 1m users in a matter on months with no US launch. Streaming music, with social discovery and sharing is now in vogue, but can it survive?
The folding of ad-funded music providers such as SpiralFrog and Ruckus, highlight the question of whether these business models are viable. The agency world meanwhile struggles to make the jump from old-school radio ads to the bells and whistles offered by these streaming services. And what are the implications and opportunities for marketers?
With licensing fees that favour subscription (8% rev share or 40p per subscriber) over ad-funded models (10.5% rev share or 0.085 per play), is there any mileage in advertising anyway? If listeners have to dip into their pockets for streaming services, will the lure of illegal file sharing increase?
Join the discussion as we explore the future for streaming audio services.
Photographic evidence from the event, if you've got photos you'd like to add, let us know.
Dave Haynes - UK Manager, SoundCloud
Dave Haynes is UK manager for SoundCloud, a cloud-based music platform that allows music professionals to easily distribute, share and stream audio over the web. With over a decade's experience in the music industry, Dave's career had moved from selling good old fashioned records to focusing on the latest trends in digital music. Along the way he has run his own label, worked in digital distribution and founded a successful niche MP3 download store. As well as his work for SoundCloud he is the organiser of OpenMusicMedia and upcoming Musichackday event.
Dom Hodge - Associate Director, Frukt Music
Dom Hodge is an Associate Director at FRUKT, the world's leading music strategy and communications agency. Dom works with a number of major consumer brands and music companies (including Nokia, Coca-Cola, Topman, Universal Music) helping them plan how to use music across their marketing channels in a variety of innovative ways. Prior to working at FRUKT Dom worked at Sony Electronics in London and Berlin in corporate strategy and business development.
Lindvall - Journalist, The Guardian
Helienne Lindvall writes the Behind The Music blog for the Guardian and blogs for mediaguardian.co.uk. She is also a professional songwriter and musician, previously published by BMG, who writes for and with recording artists on both sides of the Atlantic. Born in Stockholm, Sweden, she lived and worked in New York before settling in London.
Mitchell - Sales Director, Spotify
Jon joined Spotify in January 2008, helping to launch Spotify here in the UK. Prior to Spotify Jon Mitchell has worked in commercial radio ending up at GCap. His work on the commercial side of business has involved him with some of the major brands such as Capital FM, Xfm, Classic FM and the chart shows.
Richard Jacobs - Head of Radio, MediaCom
Richard joined MediaCom in 2002 as Associate Director and Head of Radio. He is responsible for over £40m annual radio investment and works across clients including the Volkswagen Audi group, Glaxo SmithKline and T-Mobile. Before MediaCom, Richard worked for Emap (now Bauer) in their non-spot division and therefore understands the commercial pressures on both sides of the business.
Chair - Steve Bowbrick (blog)
Steve is one of Britain's most experienced Internet managers and entrepreneurs. A fifteen year veteran of dot.com boom and bust, of web site design, online marketing, technology strategy, capital raising and people management. Steve advises media owners (Channel 4 and the BBC), startups (Rememble.com) and consumer brands (King of Shaves) about social media and digital strategy.
Chinwag Live: Music - who pays the piper produced by Julia Eilon.