Welcome back Nicholas Giannasca
to our CCPA summer blog series!
I am at the halfway point of my 10-week stint at Fame House. I have been very happy with what I have been able to accomplish and learn in my time so far. I think the most valuable experience I’ve had has been simply talking to my colleagues, and listening to their experiences as well as opinions about the intersection of the music and marketing industries.
The takeaway that I think is most valuable to my fellow classmates is that one of the most important skills that Haverford bestows on its students is the ability to communicate effectively and efficiently. This includes asking the right questions and giving concise answers. These skills translate to success in any career.
My direct supervisor has been kind enough to set aside time to meet with me one-on-one out of the office to discuss how my experience is going as well as anything else I care to talk about. In our most recent café meetings, we talked about a quote I had recently read by the chairman of a live-events company who said that the music industry has way less monetization than it did at the end of the 20th century. This ties in to my last post about how the music industry doesn’t sell music anymore. From my perspective, the industry is really selling pop culture.
I recently learned about a site called Doloder that is trying to re-monetize music itself, while simultaneously solving the industry-wide problem of piracy. Doloder provides a platform for distributing music, similar to iTunes or Beatport. However, all music on Doloder is free to download. Doloder allows advertisers to reach targeted audiences by providing the advertisers with a user’s undivided attention while the track is being downloaded. During that timeframe, an advertiser can run a short video clip promoting its product or service, for example. The advertisers pay a fee for this exposure and a percent of that fee goes to the artist whose music was downloaded. So if music cannot lucratively be sold anymore, it seems the next best solution is to sell the undivided attention of a user who has downloaded a track. Moreover, this provides a uniform and, most importantly, legal platform for downloading music without direct compensation for the music itself.
The problem that has become obvious in the last decade or so is the ability for users to share a purchased copy of a track with their friends. This deprives the artist of compensation for the track, some of which, however, will probably be offset by an increased fan base. Furthermore, all it takes is for one user to make a track available for download on one of the many illegal file-sharing platforms on the Internet, and then the world has the ability to download the track without compensating the artist who produced it (i.e., music piracy). Websites like Doloder are tailoring an already proven business model for music industry-specific implementation. I think it is only a matter of time before this model becomes the industry standard, and restores some of the profits lost by artists from music pirates.