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Experimenting with
Business Models in the
 Music Industry (part I)
         Alexander Osterwalder, Phd
               AlexOsterwalder.com
            Twitter: business_design




                                   1
the following slides are a very brief
excerpt of a 60 minute keynote Iʼm giving
at Eurosonic Noorderslag, Europeʼs most
important live music industry conference
business
models
The Business
Model Canvas
to describe, challenge,
design, and invent business
models more systematically
9   building
    blocks
The Business Model Canvas
   KEY             KEY        OFFER     CUSTOMER          CUSTOMER
PARTNERS         ACTIVITIES           RELATIONSHIPS       SEGMENTS




                    KEY                CHANNELS
                 RESOURCES




           COST STRUCTURE               REVENUE STREAMS
the
“old”

record
label

model
The “Old” Record Label Model
   KEY             KEY            OFFER           CUSTOMER            CUSTOMER
PARTNERS         ACTIVITIES                     RELATIONSHIPS         SEGMENTS




                                        nnabe                           mass
                              hits & wa
                                    hits                               market

                    KEY                          CHANNELS
                 RESOURCES




           COST STRUCTURE                         REVENUE STREAMS
                                                       huge sales
                                                       from few
                                                    artists’ albums
The “Old” Record Label Model
   KEY             KEY            OFFER               CUSTOMER                 CUSTOMER
PARTNERS         ACTIVITIES                         RELATIONSHIPS              SEGMENTS




                                        nnabe                                       mass
                              hits & wa
                                    hits                                           market

                    KEY                               CHANNELS
                 RESOURCES

                                                Retailers              TV



                                                                   “new” digital
                                                   Radio
                                                                     channels


           COST STRUCTURE                              REVENUE STREAMS
                                                               huge sales
                                                               from few
                                                            artists’ albums
The “Old” Record Label Model
   KEY             KEY            OFFER                 CUSTOMER               CUSTOMER
PARTNERS         ACTIVITIES                           RELATIONSHIPS            SEGMENTS




                                        nnabe                                       mass
                              hits & wa
                                    hits                                           market

                    KEY                                CHANNELS
                 RESOURCES

                                                Retailers              TV



                                                                   “new” digital
                                                   Radio
                                                                     channels


           COST STRUCTURE                               REVENUE STREAMS
                                                               huge sales
                                           tours &             from few
                                                                               merch
                                                                                    andisin
                                                                                            g
                                           concerts         artists’ albums
The “Old” Record Label Model
   KEY             KEY                   OFFER                 CUSTOMER               CUSTOMER
PARTNERS         ACTIVITIES                                  RELATIONSHIPS            SEGMENTS

              marketing &
              promotion


                    detecting &
                                               nnabe                                       mass
                   building tale     hits & wa
                                nt                                                        market
                                           hits

                    KEY                                       CHANNELS
                 RESOURCES

                                                       Retailers              TV



                                                                          “new” digital
                                                          Radio
                                                                            channels


           COST STRUCTURE                                      REVENUE STREAMS
                                                                      huge sales
                                                  tours &             from few
                                                                                      merch
                                                                                           andisin
                                                                                                   g
                                                  concerts         artists’ albums
The “Old” Record Label Model
   KEY              KEY                   OFFER                 CUSTOMER               CUSTOMER
PARTNERS          ACTIVITIES                                  RELATIONSHIPS            SEGMENTS

              marketing &
              promotion


                     detecting &
                                                nnabe                                       mass
                    building tale     hits & wa
                                 nt                                                        market
                                            hits

                    KEY                                        CHANNELS
                 RESOURCES
            portfolio of                                Retailers              TV
            star artists

                      copyrighted                                          “new” digital
                       content                             Radio
                                                                             channels


           COST STRUCTURE                                       REVENUE STREAMS
                                                                       huge sales
                                                   tours &             from few
                                                                                       merch
                                                                                            andisin
                                                                                                    g
                                                   concerts         artists’ albums
The “Old” Record Label Model
      KEY                 KEY                   OFFER                 CUSTOMER               CUSTOMER
   PARTNERS             ACTIVITIES                                  RELATIONSHIPS            SEGMENTS

                    marketing &
                    promotion


                           detecting &
  distribution                                        nnabe                                       mass
                          building tale     hits & wa
                                       nt                                                        market
    channels                                      hits

                          KEY                                        CHANNELS
                       RESOURCES
manufacturers
                  portfolio of                                Retailers              TV
                  star artists

                            copyrighted                                          “new” digital
                             content                             Radio
                                                                                   channels


                 COST STRUCTURE                                       REVENUE STREAMS
                                                                             huge sales
                                                         tours &             from few
                                                                                             merch
                                                                                                  andisin
                                                                                                          g
                                                         concerts         artists’ albums
The “Old” Record Label Model
      KEY                 KEY                            OFFER                CUSTOMER              CUSTOMER
   PARTNERS             ACTIVITIES                                          RELATIONSHIPS           SEGMENTS

                    marketing &
                    promotion


                           detecting &
  distribution                                             nnabe                                         mass
                          building tale          hits & wa
                                       nt                                                               market
    channels                                           hits

                          KEY                                                CHANNELS
                       RESOURCES
manufacturers
                  portfolio of                                       Retailers              TV
                  star artists

                            copyrighted                                                 “new” digital
                             content                                    Radio
                                                                                          channels


                 COST STRUCTURE                                               REVENUE STREAMS
                                            royalt
                                                     y                              huge sales
        ing &                          payme                     tours &
  market             subsidizing                nts                                 from few
                                                                                                    merch
                                                                                                         andisin
          ion                                                                                                    g
   promot           unsuccessful                                 concerts        artists’ albums
                       artists
buzz
group
?
    assess the business model
building blocks of the “old” model /
   where are the weaknesses?
The Old Record Label Model
      KEY                 KEY                            OFFER                CUSTOMER              CUSTOMER
   PARTNERS             ACTIVITIES                                          RELATIONSHIPS           SEGMENTS

                    marketing &
                    promotion


                           detecting &
  distribution                                             nnabe                                         mass
                          building tale          hits & wa
                                       nt                                                               market
    channels                                           hits

                          KEY                                                CHANNELS
                       RESOURCES
manufacturers
                  portfolio of                                       Retailers              TV
                  star artists

                            copyrighted                                                 “new” digital
                             content                                    Radio
                                                                                          channels
                                            piracy

                 COST STRUCTURE                                               REVENUE STREAMS
                                            royalt
                                                     y                              huge sales
        ing &                          payme                     tours &
  market             subsidizing                nts                                 from few
                                                                                                    merch
                                                                                                         andisin
          ion                                                                                                    g
   promot           unsuccessful                                 concerts        artists’ albums
                       artists
The Old Record Label Model
      KEY                 KEY                            OFFER                CUSTOMER              CUSTOMER
   PARTNERS             ACTIVITIES                                          RELATIONSHIPS           SEGMENTS

                    marketing &
                    promotion


                           detecting &
  distribution                                             nnabe                                         mass
                          building tale          hits & wa
                                       nt                                                               market
    channels                                           hits

                          KEY                                                CHANNELS
                       RESOURCES
manufacturers
                  portfolio of                                       Retailers              TV
                  star artists

                            copyrighted                                                 “new” digital
                             content                                    Radio
                                                                                          channels
                                                                                           unbundling of

                 COST STRUCTURE                              price of songs REVENUE STREAMS into single
                                                                                        albums
                                                            tending towards               songs (iTunes)
                                            royalt
                                                     y                              huge sales
        ing &                          payme                      ZERO
                                                                 tours &
  market             subsidizing                nts                                 from few
                                                                                                    merch
                                                                                                         andisin
          ion                                                                                                    g
   promot           unsuccessful                                 concerts        artists’ albums
                       artists
but piracy is the
wrong battle to fight!
The Old Record Label Model
      KEY                 KEY                            OFFER                CUSTOMER              CUSTOMER
   PARTNERS             ACTIVITIES                                          RELATIONSHIPS           SEGMENTS

                    marketing &
                    promotion


                           detecting &
  distribution                                             nnabe                                         mass
                          building tale          hits & wa
                                       nt                                                               market
    channels                                           hits

                          KEY                                                CHANNELS distribution is a
                       RESOURCES                                                   commodity, attention is
manufacturers                                                                         the new scarcity
                  portfolio of                                       Retailers              TV
                  star artists

                            copyrighted                                                 “new” digital
                             content                                    Radio
                                                                                          channels


                 COST STRUCTURE                                               REVENUE STREAMS
                                            royalt
                                                     y                              huge sales
        ing &                          payme                     tours &
  market             subsidizing                nts                                 from few
                                                                                                    merch
                                                                                                         andisin
          ion                                                                                                    g
   promot           unsuccessful                                 concerts        artists’ albums
                       artists
The Old Record Label Model
      KEY                  KEY                            OFFER                CUSTOMER              CUSTOMER
   PARTNERS              ACTIVITIES                                          RELATIONSHIPS           SEGMENTS
             talent will be
                      marketing &
            discovered by
                       promo on
          other mechanismsti

                            detecting &
  distribution                                              nnabe                                         mass
                           building tale          hits & wa
                                        nt                                                               market
    channels                                            hits

                           KEY                                                CHANNELS
                        RESOURCES
manufacturers
                  portfolio of                                        Retailers              TV
                  star artists

                             copyrighted                                                 “new” digital
                              content                                    Radio
                                                                                           channels


                 COST STRUCTURE                                                REVENUE STREAMS
                                             royalt
                                                      y                              huge sales
        ing &                           payme                     tours &
  market             subsidizing                 nts                                 from few
                                                                                                     merch
                                                                                                          andisin
          ion                                                                                                     g
   promot           unsuccessful                                  concerts        artists’ albums
                       artists
The Old Record Label Model
      KEY                 KEY                            OFFER                CUSTOMER           CUSTOMER
                                                                                             social
   PARTNERS             ACTIVITIES                                          RELATIONSHIPS        SEGMENTS
                                                                                        networks are what
                                                                                          drive music sales
                    marketing &
                    promotion


                           detecting &
  distribution                                             nnabe                                         mass
                          building tale          hits & wa
                                       nt                                                               market
    channels                                           hits

                          KEY                                                 CHANNELS
                       RESOURCES
manufacturers
                  portfolio of                                       Retailers              TV
                  star artists

                            copyrighted                                                 “new” digital
                             content                                    Radio
                                                                                          channels


                 COST STRUCTURE                                               REVENUE STREAMS
                                            royalt
                                                     y                              huge sales
        ing &                          payme                     tours &
  market             subsidizing                nts                                 from few
                                                                                                    merch
                                                                                                         andisin
          ion                                                                                                    g
   promot           unsuccessful                                 concerts        artists’ albums
                       artists
The Old Record Label Model
      KEY                 KEY                           OFFER                CUSTOMER              CUSTOMER
   PARTNERS             ACTIVITIES                                         RELATIONSHIPS           SEGMENTS

                    marketing &
                    promotion


                          detecting &
  distribution                                            nnabe                                         mass
                         building tale          hits & wa
                                      nt                                                               market
    channels                                          hits

                          KEY                                               CHANNELS
                       RESOURCES
manufacturers
                 portfolio of                                       Retailers              TV
                 star artists

                           copyrighted                                                 “new” digital
     bloated cost            content                                   Radio
                                                                                         channels
   structure (talent
discovery/marketing)
                  COST STRUCTURE                                             REVENUE STREAMS
                                           royalt
                                                    y                              huge sales
        ing &                          payme                    tours &
  market            subsidizing                nts                                 from few
                                                                                                   merch
                                                                                                        andisin
          ion                                                                                                   g
   promot          unsuccessful                                 concerts        artists’ albums
                      artists
The Old Record Label Model
      KEY                    KEY                            OFFER                CUSTOMER              CUSTOMER
   PARTNERS                ACTIVITIES                                          RELATIONSHIPS           SEGMENTS

                       marketing &
                       promotion


                              detecting &
  distribution                                                nnabe                                         mass
                             building tale          hits & wa
                                          nt                                                               market
    channels
     shift of the                                         hits
 balance of power
  towards artists            KEY                                                CHANNELS
                          RESOURCES
manufacturers
                     portfolio of                                       Retailers              TV
                     star artists

                               copyrighted                                                 “new” digital
                                content                                    Radio
                                                                                             channels


                    COST STRUCTURE                                               REVENUE STREAMS
                                               royalt
                                                        y                              huge sales
        ing &                             payme                     tours &
  market                subsidizing                nts                                 from few
                                                                                                       merch
                                                                                                            andisin
          ion                                                                                                       g
   promot              unsuccessful                                 concerts        artists’ albums
                          artists
The Old Record Label Model
      KEY                 KEY                            OFFER                CUSTOMER             CUSTOMER
   PARTNERS             ACTIVITIES                                          RELATIONSHIPS          SEGMENTS
                                                   customer
                    marketing &                  needs are not
                    promotion                    being satisfied

                           detecting &
  distribution                                             nnabe                                        mass
                          building tale          hits & wa
                                       nt                                                              market
    channels                                           hits

                          KEY                                                CHANNELS
                       RESOURCES                   itʼs all about
manufacturers                                  hits AND the Long
                  portfolio of                                    Retailers
                                                  Tail of music                             TV
                  star artists

                            copyrighted                                                “new” digital
                             content                                    Radio
                                                                                         channels


                 COST STRUCTURE                                               REVENUE STREAMS
                                            royalt
                                                     y                             huge sales
        ing &                          payme                     tours &
  market             subsidizing                nts                                from few
                                                                                                   merch
                                                                                                        andisin
          ion                                                                                                   g
   promot           unsuccessful                                 concerts       artists’ albums
                       artists
The Old Record Label Model
      KEY                   KEY                            OFFER                CUSTOMER           CUSTOMER
                                                                                               social
   PARTNERS               ACTIVITIES                                          RELATIONSHIPS        SEGMENTS
                                                                                          networks are what
              talent will be                         customer                               drive music sales
                       marketing &
             discovered by                         needs are not
                        promo on
           other mechanismsti                      being satisfied

                             detecting &
  distribution                                               nnabe                                         mass
                            building tale          hits & wa
                                         nt                                                               market
    channels
     shift of the                                        hits
 balance of power
  towards artists           KEY                                                 CHANNELS distribution is a
                         RESOURCES                   itʼs all about                   commodity, attention is
manufacturers                                    hits AND the Long                       the new scarcity
                    portfolio of                                    Retailers
                                                    Tail of music                             TV
                    star artists

                              copyrighted                                                 “new” digital
     bloated cost            content                                      Radio
                                                                                            channels
   structure (talent                          piracy                                         unbundling of
discovery/marketing)                                           price of songs REVENUE STREAMS into single
                                                                                          albums
                  COST STRUCTURE                                                            songs (iTunes)
                                              royalt          tending towards
                                                       y                             huge sales
        ing &                            payme                      ZERO
                                                                   tours &
  market              subsidizing                 nts                                from few
                                                                                                      merch
                                                                                                           andisin
          ion                                                                                                      g
   promot            unsuccessful                                  concerts       artists’ albums
                        artists
www.businessmodelgeneration.com
        www.alexosterwalder.com
 www.businessmodelalchemist.com
         Twitter: business_design
BusinessModelGeneration.com

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The Music Industry - what's broken (excerpt of a keynote)

  • 1. Experimenting with Business Models in the Music Industry (part I) Alexander Osterwalder, Phd AlexOsterwalder.com Twitter: business_design 1
  • 2. the following slides are a very brief excerpt of a 60 minute keynote Iʼm giving at Eurosonic Noorderslag, Europeʼs most important live music industry conference
  • 5. to describe, challenge, design, and invent business models more systematically
  • 6. 9 building blocks
  • 7. The Business Model Canvas KEY KEY OFFER CUSTOMER CUSTOMER PARTNERS ACTIVITIES RELATIONSHIPS SEGMENTS KEY CHANNELS RESOURCES COST STRUCTURE REVENUE STREAMS
  • 9. The “Old” Record Label Model KEY KEY OFFER CUSTOMER CUSTOMER PARTNERS ACTIVITIES RELATIONSHIPS SEGMENTS nnabe mass hits & wa hits market KEY CHANNELS RESOURCES COST STRUCTURE REVENUE STREAMS huge sales from few artists’ albums
  • 10. The “Old” Record Label Model KEY KEY OFFER CUSTOMER CUSTOMER PARTNERS ACTIVITIES RELATIONSHIPS SEGMENTS nnabe mass hits & wa hits market KEY CHANNELS RESOURCES Retailers TV “new” digital Radio channels COST STRUCTURE REVENUE STREAMS huge sales from few artists’ albums
  • 11. The “Old” Record Label Model KEY KEY OFFER CUSTOMER CUSTOMER PARTNERS ACTIVITIES RELATIONSHIPS SEGMENTS nnabe mass hits & wa hits market KEY CHANNELS RESOURCES Retailers TV “new” digital Radio channels COST STRUCTURE REVENUE STREAMS huge sales tours & from few merch andisin g concerts artists’ albums
  • 12. The “Old” Record Label Model KEY KEY OFFER CUSTOMER CUSTOMER PARTNERS ACTIVITIES RELATIONSHIPS SEGMENTS marketing & promotion detecting & nnabe mass building tale hits & wa nt market hits KEY CHANNELS RESOURCES Retailers TV “new” digital Radio channels COST STRUCTURE REVENUE STREAMS huge sales tours & from few merch andisin g concerts artists’ albums
  • 13. The “Old” Record Label Model KEY KEY OFFER CUSTOMER CUSTOMER PARTNERS ACTIVITIES RELATIONSHIPS SEGMENTS marketing & promotion detecting & nnabe mass building tale hits & wa nt market hits KEY CHANNELS RESOURCES portfolio of Retailers TV star artists copyrighted “new” digital content Radio channels COST STRUCTURE REVENUE STREAMS huge sales tours & from few merch andisin g concerts artists’ albums
  • 14. The “Old” Record Label Model KEY KEY OFFER CUSTOMER CUSTOMER PARTNERS ACTIVITIES RELATIONSHIPS SEGMENTS marketing & promotion detecting & distribution nnabe mass building tale hits & wa nt market channels hits KEY CHANNELS RESOURCES manufacturers portfolio of Retailers TV star artists copyrighted “new” digital content Radio channels COST STRUCTURE REVENUE STREAMS huge sales tours & from few merch andisin g concerts artists’ albums
  • 15. The “Old” Record Label Model KEY KEY OFFER CUSTOMER CUSTOMER PARTNERS ACTIVITIES RELATIONSHIPS SEGMENTS marketing & promotion detecting & distribution nnabe mass building tale hits & wa nt market channels hits KEY CHANNELS RESOURCES manufacturers portfolio of Retailers TV star artists copyrighted “new” digital content Radio channels COST STRUCTURE REVENUE STREAMS royalt y huge sales ing & payme tours & market subsidizing nts from few merch andisin ion g promot unsuccessful concerts artists’ albums artists
  • 17. ? assess the business model building blocks of the “old” model / where are the weaknesses?
  • 18. The Old Record Label Model KEY KEY OFFER CUSTOMER CUSTOMER PARTNERS ACTIVITIES RELATIONSHIPS SEGMENTS marketing & promotion detecting & distribution nnabe mass building tale hits & wa nt market channels hits KEY CHANNELS RESOURCES manufacturers portfolio of Retailers TV star artists copyrighted “new” digital content Radio channels piracy COST STRUCTURE REVENUE STREAMS royalt y huge sales ing & payme tours & market subsidizing nts from few merch andisin ion g promot unsuccessful concerts artists’ albums artists
  • 19. The Old Record Label Model KEY KEY OFFER CUSTOMER CUSTOMER PARTNERS ACTIVITIES RELATIONSHIPS SEGMENTS marketing & promotion detecting & distribution nnabe mass building tale hits & wa nt market channels hits KEY CHANNELS RESOURCES manufacturers portfolio of Retailers TV star artists copyrighted “new” digital content Radio channels unbundling of COST STRUCTURE price of songs REVENUE STREAMS into single albums tending towards songs (iTunes) royalt y huge sales ing & payme ZERO tours & market subsidizing nts from few merch andisin ion g promot unsuccessful concerts artists’ albums artists
  • 20. but piracy is the wrong battle to fight!
  • 21. The Old Record Label Model KEY KEY OFFER CUSTOMER CUSTOMER PARTNERS ACTIVITIES RELATIONSHIPS SEGMENTS marketing & promotion detecting & distribution nnabe mass building tale hits & wa nt market channels hits KEY CHANNELS distribution is a RESOURCES commodity, attention is manufacturers the new scarcity portfolio of Retailers TV star artists copyrighted “new” digital content Radio channels COST STRUCTURE REVENUE STREAMS royalt y huge sales ing & payme tours & market subsidizing nts from few merch andisin ion g promot unsuccessful concerts artists’ albums artists
  • 22. The Old Record Label Model KEY KEY OFFER CUSTOMER CUSTOMER PARTNERS ACTIVITIES RELATIONSHIPS SEGMENTS talent will be marketing & discovered by promo on other mechanismsti detecting & distribution nnabe mass building tale hits & wa nt market channels hits KEY CHANNELS RESOURCES manufacturers portfolio of Retailers TV star artists copyrighted “new” digital content Radio channels COST STRUCTURE REVENUE STREAMS royalt y huge sales ing & payme tours & market subsidizing nts from few merch andisin ion g promot unsuccessful concerts artists’ albums artists
  • 23. The Old Record Label Model KEY KEY OFFER CUSTOMER CUSTOMER social PARTNERS ACTIVITIES RELATIONSHIPS SEGMENTS networks are what drive music sales marketing & promotion detecting & distribution nnabe mass building tale hits & wa nt market channels hits KEY CHANNELS RESOURCES manufacturers portfolio of Retailers TV star artists copyrighted “new” digital content Radio channels COST STRUCTURE REVENUE STREAMS royalt y huge sales ing & payme tours & market subsidizing nts from few merch andisin ion g promot unsuccessful concerts artists’ albums artists
  • 24. The Old Record Label Model KEY KEY OFFER CUSTOMER CUSTOMER PARTNERS ACTIVITIES RELATIONSHIPS SEGMENTS marketing & promotion detecting & distribution nnabe mass building tale hits & wa nt market channels hits KEY CHANNELS RESOURCES manufacturers portfolio of Retailers TV star artists copyrighted “new” digital bloated cost content Radio channels structure (talent discovery/marketing) COST STRUCTURE REVENUE STREAMS royalt y huge sales ing & payme tours & market subsidizing nts from few merch andisin ion g promot unsuccessful concerts artists’ albums artists
  • 25. The Old Record Label Model KEY KEY OFFER CUSTOMER CUSTOMER PARTNERS ACTIVITIES RELATIONSHIPS SEGMENTS marketing & promotion detecting & distribution nnabe mass building tale hits & wa nt market channels shift of the hits balance of power towards artists KEY CHANNELS RESOURCES manufacturers portfolio of Retailers TV star artists copyrighted “new” digital content Radio channels COST STRUCTURE REVENUE STREAMS royalt y huge sales ing & payme tours & market subsidizing nts from few merch andisin ion g promot unsuccessful concerts artists’ albums artists
  • 26. The Old Record Label Model KEY KEY OFFER CUSTOMER CUSTOMER PARTNERS ACTIVITIES RELATIONSHIPS SEGMENTS customer marketing & needs are not promotion being satisfied detecting & distribution nnabe mass building tale hits & wa nt market channels hits KEY CHANNELS RESOURCES itʼs all about manufacturers hits AND the Long portfolio of Retailers Tail of music TV star artists copyrighted “new” digital content Radio channels COST STRUCTURE REVENUE STREAMS royalt y huge sales ing & payme tours & market subsidizing nts from few merch andisin ion g promot unsuccessful concerts artists’ albums artists
  • 27. The Old Record Label Model KEY KEY OFFER CUSTOMER CUSTOMER social PARTNERS ACTIVITIES RELATIONSHIPS SEGMENTS networks are what talent will be customer drive music sales marketing & discovered by needs are not promo on other mechanismsti being satisfied detecting & distribution nnabe mass building tale hits & wa nt market channels shift of the hits balance of power towards artists KEY CHANNELS distribution is a RESOURCES itʼs all about commodity, attention is manufacturers hits AND the Long the new scarcity portfolio of Retailers Tail of music TV star artists copyrighted “new” digital bloated cost content Radio channels structure (talent piracy unbundling of discovery/marketing) price of songs REVENUE STREAMS into single albums COST STRUCTURE songs (iTunes) royalt tending towards y huge sales ing & payme ZERO tours & market subsidizing nts from few merch andisin ion g promot unsuccessful concerts artists’ albums artists
  • 28. www.businessmodelgeneration.com www.alexosterwalder.com www.businessmodelalchemist.com Twitter: business_design