This session will focus on new technologies and innovation actions improving music rights management business. Taming the complexity in music licensing is the key for rightsholders to believe in collective management’s ability to monetize their creative works. Plans and systems are available to address that situation. We will discuss concrete plans how organizations will track more accurately the use of creators’ works and build new revenue streams for music creators. We are going to talk about new technologies that are improving the collection and distribution of royalties, but also technologies that are disrupting this collection, such as blockchain.
Another theme is music industry innovation: how the traditional music industry is finally learning to innovate with methodologies like design thinking, customer driven development methodologies, focusing on testing, piloting and validating service and technology concepts. With an on-going debate over rights-owner’s royalties payouts and criticism of the middlemen - labels, publishers and collective rights societies but also tech giants - songwriters, artists, and musicians are increasingly expecting more transparency and efficiency in all aspects of the music ecosystem. Taming the unavoidable complexity resulting from the real time multi-territorial licensing of international and local digital services is key for creators, publishers and other rightsholders to have faith in collective management’s ability to monetize their creative works in the 21st century. We have plans and systems to address that situation.
We will discuss concrete plans for organizations to improve the velocity of money. How will organizations track more accurately and in a timely fashion the use of creators’ works? How will they increase transparency in the industry and build a fairer industry? How will they build new revenue streams and business models for music creators’ in the future.
Key questions:
- What are the differences in actions and how music and tech innovation and the connection with startups enhances the capabilities of these players?
- How data is transforming the rights management industry and in what ways collected data could be exploited by 3rd parties?
- Why open innovation is important to music industry? What are the objectives behind launching innovation hubs and labs by rights management bodies?
- The solutions we intend to bring to challenges facing songwriters, composers and music publishers in the digital realm. How we hope to increase creators and publishers’ earnings and copyright exploitation throughout the world?
- Why CMOs and intermediaries should explore blockchain? What are the ways blockchain technology could improve current businesses?
