Updated: The Business Of Music

The Digitas and VEVO panel at the Canneslions adressed the changes in the music industry.  The panelists where

• Pharell Williams: Musician, Producer, Entrepreneur
• Andy England: Executive Vice President., Chief Marketing Officer MillerCoors
• Rio Caraeff: President, CEO, VEVO
• Rob Wells: President of Global Digital Business Universal Music Group

This is the latest video on the subject, a quick Q&A with Pharell Willams. He emphasis the need for storytelling and looking at your audiences and how you can engage with them. How can photography businesses engage with their audiences?

The lively debate adressed how the music industry had to adapt to the new ways in which music is being found and used, the importance of brand and how to be authentic among other subjects. Below is a video shown during the seminar that highlights the changes in how music is monetized. a particularly relevant similarity to the stock photography industry is that it’s not just the record sales that make the money, in fact, this revenue is quickly replaced with other products and services.