Musicians for Music 2.0 Venture Fund presentation at Society for Film and Media Studies conference

it’s time to build a better music ecosystemPresented at the Society for Film & Media Studiesconference, March 21-25, 2012 in Boston, MA Charles McEnerney, founder

Who is Charles McEnerney?• Media marketer with 25 years experience from ArtsBoston, Fast Company, HBO, MovieMaker magazine, Seattle International Film Festival, WGBH, and in ﬁlm, TV, and audio production.• Principal at Layers Marketing . Current + recent clients include The Arts Fuse, Rick Berlin, Boston University College of Fine Arts, Future of Music Coalition, The Haven restaurant, Jamaica Plain Music Festival, Over My Shoulder Foundation, Song Sparrow Research, and Yoko Miwa Trio.

Who is Charles McEnerney?• Since 2002, I have been the Host + Producer of the music interview audio podcast series, Well-Rounded Radio, where I have interviewed 70+ musicians and music industry thought leaders.• Find a resume + 44 recommendations on LinkedIn at linkedin.com/in/charlesmcenerney• Also at Facebook.com/charlesmcenerney and on Twitter at @wellroundedradi

the music business has changed• musicians no longer need record labels, radio, or magazines to become known by music fans

the power has shifted• labels or record stores will not have the exclusive distribution channels• iTunes, Amazon, and Facebook are the new power brokers

a new era of music discovery• there has never been more access to music and more ways to discover new music than we have now

a new kind of relationship• through the internet, musicians have a direct relationship with their fans, through CD/mp3 sales, ticket sales, donations, merchandise, and licensing, cutting out “the middle men”

fostering a middle class of musicians• if musicians receive the majority of proﬁts from their work, they could live more comfortably making music they want to make vs. aiming for mainstream appeal

music discovery is changing• sites + services like Pandora, Spotify, Rdio, Pitchfork, music blogs, etc. are showing there is a hunger from both active and passive music fans to discover something new

discovery tools keep coming• from mp3 blogs to podcasts, music recommendation engines to mobile apps, live event tools to music social networks, curated mixes to internet radio, this is the future. (visit http://bit.ly/musicdiscovery for a list)

music discovery is changing• what happens to the larger music ecosystem, with the decline of music criticism, journalism, record store clerks, and DJs who have long turned music fans onto new music?

music fans need guidance• future generations will likely look to blogs, podcasts, music recommendation engines, mobile apps, etc. to help discover “their next favorite artist”

many genres are suffering• the shift away from radio, magazines, and record stores is having a negative impact on jazz, classical, and other genres which are not well served online

on the web, there arehundreds of new methods to discover music• but nearly all of these projects will not get funding from foundations or venture capitalists

current projects are relying on self-funding• and many others are started or produced by people as a hobby or funded personally, but will they continue to produce them over the long haul?

we need a new kind of organization• we need to fund the best of these new ideas until they can generate their own revenue from advertising, grants, sponsorships, merchandise, memberships, fundraisers, and donations

these new tastemakerswill help musicians make money• aiding music discovery projects will help fans discover a wider array of music, directing them to musicians’ web sites where musicians can engage ﬁnancially with fans

it’s time to build a better music ecosystem• such an organization would incorporate the best practices of how angel investors, venture funds, tech incubators, and advertising networks work

and so an idea was born...

a new idea for a new reality• this new organization will be part non- proﬁt, part venture fund, part incubator, and part advertising network

Musicians for Music 2.0 Venture Fund• taste maker sites and technologies can apply and receive funding and turn part- time pursuits into full-time jobs—and help more people discover more new music

every 12 months, new taste maker sites can apply• editorial sites and technologies will be evaluated based on their concept, execution, impact on diverse genres, and ability to direct trafﬁc to musicians

the reach is endless• if 10 web sites were each to endorse/ critique/promote 200 artists per year, these 2,000 artists would reach millions of music fans around the world

successful musicians as angel investors• musicians who succeeded through the business models of the last 50 years can help launch the Musicians for Music 2.0 Venture Fund and foster the business models of the next 50 years

these angels will beneﬁt musicians, too• by donating 100K each one time, 12 musicians each year can change the music ecosystem for the better and receive positive public relations coverage in web, print, TV, and radio media

each year, new musicians would take their turn• The Musicians for Music 2.0 Venture Fund would be sustained by a one-time contribution by each artist to cover investments for that year

these are guardian angel musicians like David Bowie Yo Yo Ma Russell Simmons T-Bone Burnett Dave Mathews Sonic Youth David Byrne Jessye Norman Bruce Springsteen Bob Dylan Pearl Jam Sting Phillip Glass Tom Petty U2 Jay-Z Robert Plant/ Paul Van Dyk Jimmy Page Madonna Wilco Prince Bob Marleys Brian WilsonEstate Bonnie Raitt Neil Young Wynton Marsalis R.E.M. John Williams Rick Rubin

Musicians who succeeded through the models of the past 50 years donate to the Musicians for Music 2.0 fund Developers, bloggers, podcasters, and technologists create new music discovery channels and apply for funding Musicians for Music 2.0’s Board of Advisors review ideas and applications, granting bridge funding Musicians for Music 2.0 will manage a music advertising andsponsorship network that serves as a revenue stream for music- related entrepreneursAdvertisers reach music audiences through display ads across the whole network or just speciﬁc sites and demographics

fund, educate, and make a proﬁt—faster• in addition to revenue from ads and sponsorships, Musicians for Music 2.0 will also serve as an incubator, with trainings that help funded ideas become proﬁtable faster

educating musicians• Musicians for Music 2.0 will also provide free online text, video, and audio resources to help independent musicians learn how to manage their own branding, marketing, and careers.

what if Musicians forMusic 2.0 is not started?• without funding to create sustainability, independent musicians will be at the mercy of venture capitalists and fans who produce music discovery platforms as a “labor of love”

what if Musicians forMusic 2.0 is not launched?• while Pandora, Pitchfork, and Stereogum may now be turning proﬁts, it will be better for musicians and fans if there are many different perspectives and opinions, not fewer

what if Musicians forMusic 2.0 is not launched?• Given the potential of the web, we don’t want the power to just shift from one set of companies in the analog age to a new set in the digital age.

next steps• build a group of 6-8 forward-looking Board of Advisors from the music, tech, and entrepreneur sectors• secure a ﬁnancial commitment from 12 angel investors from a variety of music genres

for more information• Charles McEnerney• 617.233.6613• charlie@wellroundedradio.net

visit our site to see the hundreds of people from around the world who already love this idea: http://musiciansformusic2.com

Musicians for Music 2.0 Venture Fund presentation at Society for Film and Media Studies conference

by Charles McEnerney

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Musicians for Music 2.0 Venture Fund presentation at Society for Film and Media Studies conference Presentation Transcript