EconSM: Social Media Meets Music

Session Description: "The music industry doesn't look anything like it did even three years ago. Social networking services promise to build communities into all but the stodgiest standalone devices. Is this the future? Will contextual advertising play a role? What does the post-DRM world look like? What's next?"

Panelists:

Josh Deutsch (Downtown Records)
Courtney Holt (MTV)
Hadi Partovi (iLike)
Lisa Napoli (American Public Media)

A few notes:

Audience: Will the ability to play personal music kill the radio?

Hadi: I don't think so. Some people want to program themselves, others want things programmed for them. I think the #1 way people discover music is through their friends. I think people will let their "friends" choose their music -- whether their "friend" is a radio station, or a kid down the block.

Courtney (non sequitur): It used to take 20 or more impressions before someone would buy a track. Now, the tools [to connect] are in the hands of the artists. These are tools of empowerment for the artist.

Audience: Twenty years ago, there was this little band called They Might Be Giants. Back then, they'd put a new song on their answering machine every day, and their friends would call them. It was subversive. Who today is doing something subversive?

Courtney: I think some bands who have done things like leaving USB drives around with portions of songs are doing the same sort of things.