Social media is a huge opportunity for marketing
1081_ 9/22/11 - Would you like to be able to predict the success and challenges of your industry? We interviewed Steve Knopper an year and half ago, and he was spot on. Steve Knopper has a good deal of experience in the world of music writing for Rolling Stone and author of Appetite for Self Destruction. He is here at the ACG Denver, September Luncheon as the keynote speaker and we pulled him aside for a closer look. Quick to point out that what he does for Rolling Stone is cover the music business. He is uniquely qualified to speak to what the music business did wrong; what Steve has learned and how people in other industries can learn to deal with their challenges. One of the things the music business did wrong was not see the strategic inflection points coming - and those are basically a fork in the road. When new technology - transforming technology comes along like the Internet, like Napster in the music industry's case; MP3s you know, things that basically allow people to steal music for free - the music industry didn't react well to that. Part of that was understandable, but they should have seen an opportunity to sell music online much earlier than they did. They could have really dealt with that market in a more effective way rather than ceding their business to Apple and the iTunes Music Store. "So" said Steve, "that's one of the challenges I see, with the Internet basically disrupting almost every company, maybe with the exception of food companies. I think companies have to look at the music industry as an example, and say we need to jump on this more quickly and not get stuck in the hole that the music industry dug for itself." With all of that, the Internet and Social Media, Larry asked, "Are there opportunities for the music industry?" Absolutely, Steve believes that social media is a huge opportunity for marketing. Music companies are using Facebook and Twitter to a great degree. But there also are some new developments. One is YouTube which has actually become a much more effective way that record labels, artists and song writers, and publishers can make money off of the ads they sell on YouTube....listen for more...
Related Links: Steve Knopper Home || ACG Denver || M&A Channel || Mastering Change || Keywords: Steve Knopper, Appetite for Self-Destruction: The spectacular crash of the record industry in the digital age, Change, bytes=3675013
LISTEN TO: Steve Knopper, Author, Writer, Rolling Stone

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