Money for Nothing
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Money for Nothing

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Building on the commons for for fun and profit. Presented to the Nordic Cultural Commons 2008 conference in Stockholm

Building on the commons for for fun and profit. Presented to the Nordic Cultural Commons 2008 conference in Stockholm

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    Money for Nothing Money for Nothing Presentation Transcript

    • Money for nothing building on the commons for fun and profit John Buckman <john@magnatune.com> http://slideshare.net/johnbuckman
    • Home bookshelves around the world
    • Their books available to you
    • for free
    • and nothing publishers can do about it
    • BookMooch makes money with: - margin on Amazon sales ($40,000 in monthly Amazon book sales)
    • Twenty companies The largest: BookCrossing PaperbackSwap BookMooch
    • Estimate: Two million people have tried book swapping
    • At least 50,000 books are swapped each day
    • Google loves us
    • BookMooch - total number of swaps
    • 800,000 in 2nd year 300,000 in 1st year BookMooch - total number of swaps 1 year ago: 300,000 - now at 1.1 million
    • Book swapping web sites will be the first global, free repository of most historical human knowledge
    • But, there was a problem.
    • Our business model sucked.
    • BIG music license fees are an old-boy network
    • Our download advantages: * no drm * high audio quality * musicians get paid
    • Yawn. iTunes does that all now.
    • Cory Doctorow says: DRM is not a feature
    • I say: The lack of DRM is also not a feature.
    • Our consumer model is outdated.
    • In 1970: Shopping for music is fun!
    • In 2000: Shopping online for music is fun! (just like in a physical store)
    • In 2008: Shopping for music online is boring
    • Find a teenage girl Look at her iPod
    • You will find: Collections Music from my friend Amy That cute DJ Chill out I wanna feel good! music
    • Our analysis: being a music librarian is no fun - picking music is tedious - backing up, moving music is work - “I just want to listen!”
    • Our analysis: People want access, they want curated collections, they want simplicity.
    • Our new business model
    • Help us stop selling you music
    • Tell us how much you want to pay each month
    • We give you complete access to our music, in every way you can imagine
    • streaming from work downloads 3g iPhone app web player multihour podcasts Creative Commons legalized sharing
    • completely changes the seller/buyer dynamic
    • “customers” become “members” and “supporters” and “connectors”
    • and all I need to worry about is keeping them happy.
    • Forget B2C! What about B2B?
    • US music business is $18 billion annually
    • $12 billion of that is licensing
    • Yes, 2/3rds.
    • Record labels are scared, slow, stupid. And they’re downsizing.
    • And many companies are out- competing them with licensing.
    • Our niche: rights you can’t get elsewhere
    • Renault Megane
    • From the producers of The Blair Witch Project
    • To summarize
    • Music licensing is an ok business slow to build, focus on untapped niches
    • Download sales are dying
    • For now: Memberships, all-you-can-eat, no restrictions, works.
    • Magnatune won’t take over the world
    • but it can make a contribution
    • and it’s a nice way to spend a decade of my life
    • the end Money for nothing building on the commons for fun and profit John Buckman <john@magnatune.com> http://slideshare.net/johnbuckman