A little Vitual Reality Recap
“Hard sales of music go down, streaming platforms continue to shake the music market – the music industry is in a huge crises.”
This was one of the major impressions I got of the very early weeks of the Master in Global Entertainment and Music Business here at Berklee in Valencia. However it turned out not to be completely true: Yes, times are changing but so are the people who create the environment in what they live in.
As I went to learn about the industry in the following weeks, I learned facts, ways to do business and of course I received a legal background of Do´s and Dont´s, however much more important, I learned about the people´s mindset who work in this industry. They are creative people, they are forward looking, they complain about stuff but in the next second they are trying to fix what makes them uncomfortable. For the most part it is an incredible entrepreneurial industry.
I learned that at my first industry in Barcelona, where I also discovered a whole new world of how the future of the industry could look like. One of the most interesting talks was the panel discussion about virtual reality in the music industry. Peter Malla, a young very smart journalist, based in London, led it. I portrayed him and his VR journey, and I took the VR startups he presented as a base to showcase how Major Labels like Universal could apply startup spirit to launch their own entrepreneurial VR subsidiaries. It is actually a major chance for them to redefine their position in the market. However, from the panels, from the research and the blog posts I wrote I discovered three major take-aways concerning VR:
- We are the pioneers in VR technology right now.
- CONTENT is key: be it VR being open to user generated content in the future or content creation at all right now
- It´s all about the people: WE create and shape the world we want to live in tomorrow. Especially when it comes to technology. So lets do it!