I’ve been considering developing a series of online courses around entrepreneurship and innovation within the music industry, including and expanding on what I’ve taught in music industry and marketing undergraduate programs at UCLA Herb Alpert School of Music and Emerson College, in the music business graduate program at California State University, Northridge, in the business module of the advanced audio engineering program at SAE Institute Los Angeles, and in my workshops at USC Marshall School of Business, Los Angeles Recording School and College of the Canyons, but I’m starting to reconsider this.
I’ve seen dozens of online courses developed by so-called marketing, business, and entrepreneurship experts that promise to take your business from stagnant to 7 figures in just a few weeks. Often times these experts only verifiable accomplishments tend to be their ability to get others to sign-up for their online courses. Or, at best, they’ve had one lucky break and somehow parlayed that into a facade of serial success, from which real strategy and knowledge can be shared.
We’ve all heard the saying that “those who can’t do teach.” I do not agree with this ugly notion as a generalization, but I do believe that it is actually quite easy to take bits and pieces of advice, common sense, and lessons from others’ case studies and weave these concepts into curriculum padded with superficial “proven strategies” and outdated yet widely adopted business modeling techniques, which the instructor has never put into practice himself, and charge naive entrepreneurs hundreds of dollars to access this material as a life-changing course.
And we wonder why there is such a high rate of failure amongst students who’ve completed these courses.
I enjoy teaching. And I am honored to have been acknowledged in Billboard “15 Top Music Business Schools of 2017” and have been reviewed highly among the students in the programs in which I currently teach.
But even more thrilling, I enjoy doing.
I enjoy transforming business ideas into investible businesses within the music industry; especially when those ideas create real value for its target customers — music creators, music industry professionals, and music fans. And I enjoy helping entrepreneurs do this for themselves.
I don’t know if it makes sense for me to create a standalone online course.
I believe entrepreneurs who seek help seek mentorship and an open channel of communication. I provide this in the classroom where the ability to ask a question can unlock meaningful insight for an entrepreneur struggling with a decision or a challenge. Nuance matters. Nuance is what makes the difference between reading a lecture and experiencing a lecture. I also provide this through consulting and mentorship.
Over the last 7 years, I’ve had the pleasure of being a consultant, advisor, or mentor to nearly 50 founders of music, tech and digital media start-ups, including current clients Baserock (achieved over 300% Kickstarter launch goal), Weeshing (has earned over $10M in revenue), RoadNation (has helped indie artists raise tens of thousands of dollars to fund touring) and mydiveo (acquired for over $7.4M after my consultation to develop a go-to-market strategy and intellectual property compliance strategy).
I’ve provided mentorship and coaching through programs such as SXSW Music, Capitol360 gBeta MusicTech Accelerator, recommendations for founders to attend Project Music Nashville and Techstars Music Los Angeles, and will be continuing this work in 2019 at The Rattle Los Angeles and 2112 Chicago.
Over the last 2 years, I’ve contributed to the acquisition of or investment in 5 music tech startups including 3 companies that I founded.
I don’t know if any of this work could have been achieved by uploading 10 course videos and some downloadable worksheets. If so, I highly doubt the success rate would be very high. I do believe there is some perfect balance and that is what I am setting out to achieve in 2019.
In the meantime, if you’re an entrepreneur struggling to get your music industry businesss idea off the ground, reach out to me for a free consultation to see how me and my team can help.
[Podcast] Copyright Clearance Center Adds Recording Of “View From The Top: The Future Of Machine-To-Machine Rights Management” Panel Discussion From RightsTech Summit 2017 To Its Beyond The Book Podcast
Machine-to-machine communication is the ideal scenario if we want to enable on a global scale, with as little friction as possible and at a reasonable cost, the licensing of works and the payment of royalties to rightsholders. That at least is the stated premise for a recent discussion at the annual RightsTech Summit conference.
But how far have we come? How close are we to achieving a digitized business environment for rights and royalties that is as fully realized as we see today in media distribution and consumption? Until code entirely does away with contracts will human beings will continue to add a value that no machine ever can?
“I think all of this starts with a human being. No matter what technology we apply to these systems, if a person doesn’t know how to interact or create the data that they need to disseminate, it’s just not going to get there,” said Michael Shanley of Music Reports. Technology evolves all the time, and I think we’re getting to great places in technology. But education and information is, I think, paramount.”
Panelists for the session moderated by CCC’s Chris Kenneally included Dae Bogan co-founder & CEO of TuneRegistry, a music and rights metadata management platform; Benji Rogers, a British-born, New York-based entrepreneur, who co-founded the Dot Blockchain Music Project, an attempt to create a de-centralized global registry of music rights using blockchain technology; Michael S. Simon, President of Rumblefish, a world leader in music micro-licensing and YouTube monetization and also CEO of the Harry Fox Agency LLC, the nation’s leading provider of rights management, licensing and royalty services for the music industry; and Michael Shanley, Vice President of IT Business Development at Music Reports, developers of proprietary databases and software applications that facilitate music rights administration.
Pandora recently launched its sleeker new look. The centerpiece of the new user interface is the song artwork, which is now bigger and more prominent than ever. The artwork is also used as a color-washed background.
I can only imagine the music compensation nightmare that will ensue over the next 12 months as streaming, DPD, and airplay royalty checks start to go out to the multi-national team of creators and rights holders.
Who is responsible for ensuring the accuracy of rights holder information across all tracks? Who is checking that digital music services have complete metadata to match sound recordings to their underlying compositions? Who is accounting to the background vocalists and session musicians?
Did every producer and engineer secure letter of directions from Beyoncé and Drake to properly claim a portion of Pandora payouts? Who is looking after the contributors who do not have multinational publishers? Will they capture their piece of neighboring rights, DART royalties, or Spotify mechanicals?
Who will lose out due to inefficiencies? Who will have money left on the table due to an inability to properly claim and collect?
These are the questions that we ask ourselves at TuneRegistry and why we’ve built the next-generation music rights & metadata management platform to empower creators and rights holders.
The image featured above is a screenshot of a post on recording artist Lukas Graham‘s Facebook page. This blog entry is about the idea of the Digital Music’s New Fan Conversion Funnel as illustrated by a comment posted in the comments section by Lukas Graham fan, Stacy Angus.
But first, a quick crash course on conversion funnels.