www.aspenlive.com/speakers We just had an hilarious discussion about the ability of AI to break acts.
What we had was an outsider, who'd started a label, trying to break his bands.
How many times have we seen this?
How come no one ever believes music is a professional business. How come everybody believes that we're all wankers and we can be taught a lesson.
Remember that news guy who came into Sony to make the trains run on time? He came up with the rootkit, and he's long gone, you don't even remember his name.
AI is a tool.
But if algorithms are so damn good, how come the hit to sh*t ratio of my Spotify Discover Weekly is so damn bad?
This has been the dilemma for eons. How to predict that the AC/DC fan will like Joni Mitchell?
And the true breakthroughs...sound so foreign upon initial listen.
As for Vince's statement re his kids discovering Led Zeppelin and the rest of the classic rockers... Do you know how much marketing went into those projects? Do you know how high the barrier to entry was just to be able to record and distribute music back then? There was a ubiquity to that music that will probably never be repeated.
The skiing has been fabulous. But most interesting was the agent at WME who represents Tyler the Creator, Snoop and...HUGH JACKMAN?
And the guy who manages the Roots.
Two Black guys, Kevin and Shawn respectively. They don't lament racism in the music business, but the lack of opportunity for Black people.
And the guy who runs music for MGM Resorts International... Gambling only represents 25% of Vegas hotel revenues today.
But what is most astounding is how vast this business is, how much opportunity there is, it's almost overwhelming. Used to be you could know everything, be comprehensive, but no longer.
Back to AI... I hosted a panel last year during Grammy week and the business people were all flipped out about AI. But Don Was wasn't. He remembered the Linn drum machine. Once he saw what Prince did with it on "When Doves Cry"...he saw the opportunity. Once again, AI is a tool.
Music connects on an emotional level. That's what so great about it. It's unpredictable. And there is a business in me-too, but that's not the essence of the business, it's innovation.
And all we keep hearing about is bands as brands, merch, money. That's what business people think about. Artists? True artists are about connecting, getting their message heard.
And there aren't that many true artists out there.
But we're hungry for them.
But the channel is overloaded with wanker wannabes because the barrier to entry is so low.
And income inequality is making some potential greats give up for more lucrative jobs.
I've got to rush out for dinner at Matsuhisa.
But I was so inspired by the argument just now.
The CTO of Cisco is telling us how it's going to be.
But we've got decades of experience telling us how it really is.
Don't be afraid of innovation. That's the story of Napster. Don't circle the wagons, you're just going to be disrupted.
But the Blockchain, NFTs, AI in music...they're the hot thing and then they're not.
The hardest thing is creating great music, not selling it.
Don't forget, the success of Napster was based on all the great music of the past, and exposure of a limited number of new acts.
I've got to jump into the shower, it's late.
But the truth is this is a business about passion. That's what you need to be successful on both sides of the fence, as artist or business person.
I hope you have it.
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