Where is the music industry heading? (Interview With ASMM Small Business Connections)
Our Founder, Matej Harangozo was recently featured on the ASMM Small Business Connections Podcast where he discussed his love of music, Digital Science Media, as well as becoming a disrupter in the industry.
Here is an excerpt from the podcast:
Ann Brennan: That for you, so what do you think the music industry is heading?
Matej: The trend that I really love is two major trends. One is people like myself and others probably Michael as well, is really educating the independent artists on the music industry. I've never seen more educational material out there about how to properly navigate through the music business. Now, you know, it is sort of a wild, Wild West industry because there's a thousand different ways you can grow your brand. But business one on one concept never go away. Supply and demand and how to set up Marketing Strategies for Artists or structures on Facebook or YouTube or whatever the case may be.
But there's one trend that is exciting me and I could see that because major labels don't like it. I've gotten pushback. I've gotten warning D.M. messages, which I'm not going to get into now. But that's one trend that excites me. The second trend is that everything in the music industry for art is and not just music, but even for content creators is starting to be monetized the proper way. So whereas five, six years ago, we're still living in this grey land of like, yeah, let me put our music on Spotify, on Apple Music, I'm getting pennies on the dollar and I'm working so hard. But it's just, you know, I can't find this consistent like monthly income to live off of for monthly musicians.
So now fast forward to 2021, its not just the streaming platforms that are out there, but you know, kind of like monthly, like Patreon, for example, or even, you know, only fans. I know it gets a bad name because of what type of people are monetizing their skills through only fans. But essentially it's like you build a fan base, you build the demand for what you're doing, and there's probably thousands of ways to monetize it, either given exclusive access or putting your music or content on all these major, major platforms that have finally, you know, getting around the law to make sure everything is properly monetized, that people are not stealing your intellectual property as a musician, that if they catch somebody else, you get to decide, OK, cool, I'm going to let them do a cover of my song, but I'm going to take eighty percent of their monetized revenue off YouTube.
They can keep twenty, because at the end of the day they’re branding me as well. So I'm excited about that trend and those two trends, specifically. More of the education for independent artists and the fact that everything is becoming more and more monetized and secure and the ability that artists can extract that monetization from their content.
Ann Brennan: Well, I have to say, as a mom of a young musician, I'm happy to hear that too. You were right. When you've got a son who says I'm going to be a musician, oh, great, let me open my basement for you. So hopefully that's not going to be the case. But you know what let's move on to something. The difference between being an entrepreneur and a business owner. Because we told people today that they would come here. We're going to talk about what it means to disrupt an industry and how they can use some of this information in their businesses? Talk a little bit about the difference between being an entrepreneur and being a business owner using Marketing Strategies for Artists.
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