How Modern Labels Are Going To Change The Music Industry7 min read
So there’s probably only one thing that’s going through your mind after reading that headline.
“What on earth is a modern
And guess what. The reason this concept seems so foreign to you is, well, because it actually is.
Let’s take a quick trip down memory lane…
We first started using the term “Modern Integrated Label” after breaking down and analyzing how all the “Asian Entertainment Powerhouses” are consistently able to launch successful artists.
And, what we found was not only a concept that doesn’t exist on our side of the planet. But, also a great many of diverse and important processes that – you guessed it – work in synergy.
Still don’t fully understand what’s going on? Keep on reading.
How The Industry Is Evolving
For some time now it’s been fairly clear that the old “music business model”just isn’t working all too well in today’s age of technology.
This is because technology has done a lot more than just change the way most of us listen to music and discover our new favorite artist. Needless to say, the other end of the stick (mainly labels) have had to make a lot of changes over the last decade in order to survive.
But what did they actually change?
Did they really change how they find, develop or market an artist? No, of course not. They barely adapted those processes to today’s technology standard.
What they truly changed were all the different routes they can take to make money from records and artists again. After all, it’s fair to say they’re pretty great at that.
Now, in no way are we trying to bash music labels. They just do what they’re best at and for the most part that’s served them well.
However, this “business” has been slowly eroding away year for year.
You’ve got artists that are smarter now.
You’ve practically got a solution to most problems just by doing some Google searches. The cost of making music has gone down drastically; just grab your laptop. Social Media is making reaching and gaining fans easier than ever. And so on…
It’s pretty clear that the value offering of the past just doesn’t hold up anymore.
“Creatives in the music industry are the first to put in any work and the last to ever see any profit.”
The Beauty Of Innovation & Evolution
So what does this have to do with our key term? “Modern Integrated Labels” is what we’re referring to here.
Well, as the name already foreshadows, this concept goes beyond the boundaries of regular industry constructs.
Of course, even this concept isn’t perfect. Like everywhere else in the world, the record business is not without its problems.
However, our friends over in Asia have been able to consistently demonstrate the assessment of problems within their organizations. Followed by making smart adjustments to create more win-win scenarios for them and their talent.
Let’s look at this from a different perspective…
What This Looks Like & Why It Matters
By now you’ve probably gotten a good feel for the direction we’re heading. It’s safe to say that there is a lot of exciting progress being made.
Yet, sometimes it can still be a bit difficult to really visualize what new concepts like this look like.
Imagine the combination of talent discovery, actual talent development, long-term management as well as regular label services into one holistic system.
Sound like a mess?
Well, the wildly successful companies that are now even starting to disrupt the US would beg to differ. Moreover, this is the exact concept that’s been missing in the modern world of entertainment for quite some time now.
So far companies over in Asia have paved the way. Now it’s up to us to learn from them and adopt their best practices.
Also, if you’re interested in learning more about what exactly is going on in Asia, check out this blog post.
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