Blog Post

@ MIDEM: Midemnet Day One: Video,the Future of Audio

[by Mark Frieser] This panel focused on the ways consumers discover, watch and buy (hopefully) videos of musical content. Executives from Yahoo, Sony/BMG, Google, Heavy, Apple all took part, and from a high-level look it seems that video is really coming into its own as a revenue stream in the digital music sector. For example, Alex Luke of Apple stated that in the first three months of the launch of videos, more than 8 million videos were downloaded-which definitely gives proof of concept, even if the overall strategies need to be defined as to how the content is packaged and marketed. Another interesting point was made to the development and fostering of consumer-created content – an example given by Heavy.com CEO Simon Assad was that of the creation of an interactive publishing campaign with Burger King where 25 kids were sent Burger King masks to shoot “Videos with the King”, and the results were posted on Heavy. The consumer-made content streamed to over 10 million users in the first three weeks of the campaign – an amazing response.

The question is – how does this help audio tracks to get sold and video to become a separate revenue model for the music industry? By working with new video marketing and distribution solutions, labels and others in the recording industry can use digital video to interact with and provide to fans content and services they want. That’s on a general level – to be more specific video should be integrated on some level in the overall music experience so that it can assist with discovery of new music – and just as crucially become a revenue stream in its own right.