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
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Money for Nothing
- 1. Money for nothing building on the commons for fun and profit John Buckman <john@magnatune.com> http://slideshare.net/johnbuckman
- 5. Home bookshelves around the world
- 6. Their books available to you
- 7. for free
- 8. and nothing publishers can do about it
- 12. BookMooch makes money with: - margin on Amazon sales ($40,000 in monthly Amazon book sales)
- 13. Twenty companies The largest: BookCrossing PaperbackSwap BookMooch
- 14. Estimate: Two million people have tried book swapping
- 15. At least 50,000 books are swapped each day
- 16. Google loves us
- 17. BookMooch - total number of swaps
- 18. 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
- 19. Book swapping web sites will be the first global, free repository of most historical human knowledge
- 31. But, there was a problem.
- 32. Our business model sucked.
- 33. BIG music license fees are an old-boy network
- 34. Our download advantages: * no drm * high audio quality * musicians get paid
- 35. Yawn. iTunes does that all now.
- 36. Cory Doctorow says: DRM is not a feature
- 37. I say: The lack of DRM is also not a feature.
- 38. Our consumer model is outdated.
- 39. In 1970: Shopping for music is fun!
- 40. In 2000: Shopping online for music is fun! (just like in a physical store)
- 41. In 2008: Shopping for music online is boring
- 42. Find a teenage girl Look at her iPod
- 43. You will find: Collections Music from my friend Amy That cute DJ Chill out I wanna feel good! music
- 44. Our analysis: being a music librarian is no fun - picking music is tedious - backing up, moving music is work - “I just want to listen!”
- 45. Our analysis: People want access, they want curated collections, they want simplicity.
- 46. Our new business model
- 47. Help us stop selling you music
- 48. Tell us how much you want to pay each month
- 49. We give you complete access to our music, in every way you can imagine
- 50. streaming from work downloads 3g iPhone app web player multihour podcasts Creative Commons legalized sharing
- 51. completely changes the seller/buyer dynamic
- 52. “customers” become “members” and “supporters” and “connectors”
- 53. and all I need to worry about is keeping them happy.
- 54. Forget B2C! What about B2B?
- 55. US music business is $18 billion annually
- 56. $12 billion of that is licensing
- 57. Yes, 2/3rds.
- 58. Record labels are scared, slow, stupid. And they’re downsizing.
- 59. And many companies are out- competing them with licensing.
- 60. Our niche: rights you can’t get elsewhere
- 61. Renault Megane
- 62. From the producers of The Blair Witch Project
- 65. To summarize
- 66. Music licensing is an ok business slow to build, focus on untapped niches
- 67. Download sales are dying
- 68. For now: Memberships, all-you-can-eat, no restrictions, works.
- 69. Magnatune won’t take over the world
- 70. but it can make a contribution
- 71. and it’s a nice way to spend a decade of my life
- 72. the end Money for nothing building on the commons for fun and profit John Buckman <john@magnatune.com> http://slideshare.net/johnbuckman