Tag Archives: Web 2.0

Remix!

This blog’s first post, “The Honor System,” profiled the artist Radiohead as an innovative example of musicians bypassing big labels and putting their trust (and profits) directly in the hands of consumers Radiohead Bypasses Labels.

Faced with an exodus of top talent, big labels have had their existence challenged Fast Company: Can Big Labels Survive? (see esp. post by Karen McGrane, echoed on MusicNews.com R.I.P. CD?).

Warner, Sony BMG, and Universal have all heeded the advice of McGrane and are working hard to adapt and invent, using Web 2.0 to their advantage (see post entitled “Web 2.0, SoJo, and Horatio Alger”) and striking a landmark deal with MySpace Business Week: Record Labels and MySpace Cut a Deal.

Big labels have also introduced the “360 degree contract,” which is all-encompassing (merchandise, tours, etc.) as opposed to merely CD sales The Economist: A Change of Tune: 360 Degree Contracts.

What ultimately happens to big labels remains to be seen. Yet recent events evidence that several labels are trying, in open-minded and innovative ways, to adapt and ensure their survival. As of now, a Barenaked Ladies chorus is the final arbiter for the industry: “And it’ll be great, just wait–or is it too little, too late?”

REFLECTIONS:

1. Consider the effects of competition among big businesses as they attempt to stay relevant to the consumer (e.g. Apple/iTunes, record labels, musicians). Does this competition help or hurt the consumer?

2. Does this kind of “consumer based competition” encourage or discourage innovation? What, in turn, does this do for everyone involved (artists, labels, consumers, etc.)?

3. What would be the effects of consumer based competition (as opposed to relative price fixing) in other industries (e.g banking, credit cards, etc.)?

ACTION

Focus on and trust your consumer base to drive innovation and a competitive advantage.

Advertisements

1 Comment

Filed under Uncategorized

Web 2.0, SoJo, and Horatio Alger

One need not look far to see the growing impact of Web 2.0 Web 2.0 Spending Boom and social networking sites such as Facebook, MySpace, and the like. Already, these sites have become powerful mediums of self-expression, self-promotion, employer screening, and a host of other things. The Web presents seemingly unlimited opportunity for visionaries and trend-setters, where the skillful use of MySpace and blogs can turn even the likes of Tila Tequila A Shot at Love into a modern day Horatio Alger story. Of sorts.

To see several pioneering individuals and companies who are successfully molding Web 2.0 into mediums that change the way we receive, store, transmit, and process information, visit the following sites:

SoJo Pioneer (view “Meet Kevin Sites” tab for specific information on project scope)

Photobucket: (Re)weaving the Web

PodTech.net: Web 2.0 + Brand Storytelling

REFLECTIONS:

1. How can your business use the power of Web 2.0 to excel? Online blogs to promote an “inside look” at the organization? Resume submissions via YouTube?

2. What qualities will distinguish the “one-hit wonders” of Web 2.0 from companies that build a solid foundation/niche and stand the test of time?

3. How can your business break down the massive amounts of information (much of it irrelevant, incorrect, or potentially harmful) on the Web to find, process, and apply the gems that can revolutionize your field?

ACTION:

Brainstorm ways your company can use Web 2.0 technologies to advance its interests.

Leave a comment

Filed under Uncategorized