FGV seminar discusses creative business in the music market

IMG_2580The seminar discussed how the convergence of information technology, communications and media are opening new artistic and business opportunities to musicians and musical groups in local and global markets.

On August 7, Fundação Getulio Vargas promoted, through its International Division (DINT) and FGV Management Rio, the international seminar “Creative Dialogues: Innovation in Music Business,” which discussed how the convergence of information technology, communications and media are opening new artistic and business opportunities to musicians and musical groups in local and global markets.

The event – which was attended by Professor of Music Businesses at New York University, Sam Howard-Spink – was organized by the coordinator of the MBA in Management and Cultural Production, Claudio D’Ipolitto, and Professor Leo Morel. The Director of FGV Management Rio, Silvio Badenes, and DINT’s International Relations manager, Eduardo Marques, opened the seminar highlighting the importance of international cooperation, both for the MBA courses and the exchange of professors and students among partner institutions.

Then, Sam Howard-Spink analyzed the emergence of hybrid business models, addressing three important examples of emerging markets: Brazil, India and China. He mentioned the collective funding platform through fans “Queremos!” and its international branch “We Demand!”, released in the United States.

Another interesting case presented was NH7.in, an online music platform in India dedicated to independent bands. As Howard-Spink warned, “the music industry can be regarded as a precursor of structural, technological and business changes that may affect other creative industries (audiovisual and games)”. He also noted that the model developed by Napster and its successors in the music value chain has been influencing other cultural or based on content areas ever since. “It is important to continue observing the innovations in the music business model,” said the professor.

In turn, Leo Morel argued that, when interviewing musicians to write his books “Music and Technology” and “One Piece”, it became clear that one of the biggest challenges faced by them was to stand out amid the almost unlimited universe of artists and bands on the internet. “That’s why innovation becomes increasingly essential for musicians and music producers. But this innovation is not necessarily related to information technology, it can also be sought in the musical aesthetics of the artists and their management models,” said the Professor of Culture and New Media.

Claudio D’Ipolitto, who teaches and researches Innovation in Creative Business Models, said that “today, the artist who is responsible for his/her own production can already scribble innovative ideas on a napkin using some simple modeling techniques for businesses”. He concluded the event with one advice: “I strongly recommend that, although you are not a ‘business person’ and expect someone to manage your career, it is important to understand the language and the rules of the game (…). If you are able to read the models behind the contracts, you will be more capable to discuss and decide the ways in which your talent can be translated into a sustainable revenue flow and how your image will be perceived by your target audience”.

The event, conducted in English, took place at FGV’s main offices, at Praia de Botafogo, Rio de Janeiro.

*In the photo: Claudio D’Ipolitto, Leo Morel, Sam Howard-Spink, Silvio Badenes e Eduardo Marques.

Source: http://fgvnoticias.fgv.br/en/news/fgv-seminar-discusses-creative-business-music-market

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