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The Business Video Domain

What Is the Future of the Music Industry?

1/21/2017

music-mixing

The Future of the Music Industry

Gary Vaynerchuck lends his perspective to the question, "What Is the Future of the Music Industry?" From Entrepreneurship Answered.

Entrepreneurship Answered
Gary Vaynerchuck
music
tech
technology
change
disruption
disruptions
disruptive technology
business model
marketing
advertising
corporate strategy
failed strategies
strategy
artists
performers
talent

Jaslyn B link

9/23/2018 06:12:21 pm

Three things I learned in the video were a song is worth what the market pays in contrast to how it was in the past. If you do not put yourself out there to be known in this industry you will not make it. Certain industries and groups may pay differently over the years just because of how popular it may be. More supporters equal more money and with more money there is a direction for success.

Reply

Jaslyn B link

9/24/2018 08:28:03 am

I can apply what I learned in the video by marketing myself. People having connections with one another can be very valuable. The more people you know, the more aspects you may find for success.

Reply

T. Chustz

9/27/2018 11:40:38 am

The three most important parts about this video are:
1. Markets change, as it has in music. Music has gone from a selling record industry, to a streaming service industry.
2. If you are pursuing music, you may have to hustle harder on doing shows, and promotion because artists are making less for their studio work (due to streaming). It's not like (he uses) the sixties, where the Beatles drop SGT Pep, and sell a million copies and get a hefty little chunk of each album sale. To be successful today you use the increased explosure/less money per song, to create an enormous fan base, and then find out how to be successful from there.
3. All markets change, and everything changes. Good to know if you're going into business.

The message here can be applied to my life. We should be aware of changing markets if we are to go into business, and be willing to adapt.

Reply

Corey Gaconi

10/2/2018 09:22:41 am

The question I would ask to my classmates is if they feel that the music industry is hurting from people obtaining songs without paying for them. Do they think that the music industry will be in trouble in years to come. The things that I would take from this video to apply to my life is to not be ignorant to the fact that industries will change. As a business man , I must be able to adapt to the market and to what people want. Companies that are not open to adapting are the companies that tend to struggle. This was a good video overall.

Reply

KJS

10/3/2018 02:57:15 pm

Watching this video is really difficult to watch knowing they have so much talent out there. 3 things that stuck out to me was:

1. Having a passion for what you are doing. Artist have it pretty hard because the music industry is so easy to get into. So many people find themselves as artist which makes it difficult to be noticed to top producers. Therefore, having a passion can help refrain you from getting discouraged.

2. Artist have to be multidimensional. Which means they have to be able to perform and sing at the same time because buying physical copies of music is almost obsolete. Streaming is a new way of listening to music which doesn’t require you to buy the individual copy of an album. This also supports having a passion for music because start up is difficult and money does not come in immediately.

3. Music is a evolving industry. It is a positive because you can set trends and be able to be in the top of the industry.

My question to the class is do you download your favorite artist or do you buy his/her music off the shelf just for support?

Reply

LAUREN LAUDUN

10/5/2018 10:52:59 am

The future of the music industry is much like the future of many other industries, ever changing. Those that succeed will adapt to the changes in the market, and find other outlets to be profitable.

Hard work, grit, and determination pay off in any industry.

Reply

Stephanie Brock

10/5/2018 06:48:04 pm

1. The artist must change and mold to the current times or they will find themselves with out a job any more. The music industry is changing artists don’t earn so much money off of selling records any more
2.The market is the market, stop crying, he goes over what if her was in charge of the music industry. Accept what has become, a song is worth what the market pays for it.
3. If your great at just music and you don’t want to add all the other things to performing then you are destined to fail in the music market. The market of music has changed.
Question: How many people listen to the radio still instead of streaming?

I like how he refers to Groupon woman sold too many cupcakes at a deal. The woman put the offer out. That’s the company’s fault for not taking into consideration that so many people would come for her offer.

Reply

Alayah Taylor

10/7/2018 05:53:17 am

If I had to ask a question of my classmates on this for them to discuss, it would be did you know that what was said in the video was true? Do you believe that the "market is the market"? & give detail on why.

Reply

AM

10/7/2018 03:24:28 pm

Gary Vee is one of the most inspirational men out there making videos today. He is definitely a hard worker and that is one of the overall themes of every video he makes. He truly believes we can start and grow every business out there we have. I’ve watched a lot of his videos on his Instagram page. It’s crazy to think how much the music industry has changed just in our lifetimes. From when we were kids with all the CD’s to now where we have album after album stored on our phones and can listen to any song on YouTube anywhere we are. If I was an artist I’d probably be upset to see all the free views on YouTube especially from videos people just make at home on there computer. There should be a new way to monetize views even if the artist has no connection to the posted music. I know this is no easy task. But there has to be a way and I’m sure their will be in the future.

Reply

Vanessa R

11/1/2018 07:09:32 pm

Songs and other entertainment are worth what the markets will pay for it. Being successful in the music industry requires more effort these days than it may have in the 1960's. Music evolving from a physical format to a digital format hasn't necessarily decrease its value. I can apply what I learned by remembering that industries of all types evolve over time. Products and services don't have inherent value; the better quality something is, the more the market is willing to pay for it.

Reply

Chad

11/2/2018 02:52:37 pm

An important thing said in the video is "The market is the market". This is true because it means what he said the market is what people will pay for what you have. Another important thing he said in the video is that everything changes and evolved. Nothing is the same as it was in the past. This is especially true for the music industry the market has changed and they have to adapt to what people want now to make money in their industry. I would ask my classmates do they agree with this logic do they feel everything has changed from the past?

Reply

Wesley Beshel

11/28/2018 10:16:33 pm

I really do like this video a lot because of how much sense he makes. The market is the market, you cannot get mad at people for downloading songs when you have made deals with streaming companies to do so.I think the best example was with the lady and Groupon. She blames Groupon for putting her out of business when she was the one who made the deal and people took her up on the deal. You have to deal with the problems you create, how can you complain about something that you agreed upon in the first place. The market is the market, and the market will always stay as the market. My question to my classmates, do you believe what he says?

Reply

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