Well, I just want to introduce myself here. I'm currently the General Manager for Higher Education Records (H.E.R.). We are a young up-start music company located in the beautiful Madison, WI. We did a song about the Green Bay Packers that got huge, check out the H.E.R. music video, and since then have received a lot of attention.
I really want to turn this company into a musical powerhouse. The music industry is basically in free-fall without any real working business model. The one it had been leaning on for years has been cast aside in the wake of the Internet and P2P sharing. The major record labels refused to believe that the Internet would pose a threat and the CD sales would always be the one main source for quality music. They wouldn't believe that consumers would give up audio quality for convenience and portability. Now they are trying to play catch up and this has created an industry that is desperately seeking a business model, any business model that can hold up to an ever-changing landscape.
Therein lies the problem, however. The one thing that has really opened up the music industry to anyone is also the reason it is on such rocky ground. The Internet has let anybody become a "musician" so it's hard to sort through the good, the bad and the ugly. Technology keeps moving forward by leaps and bounds and this makes it difficult to pin down a concrete model.
I'm really interested in studying how the entertainment industry will fluctuate in the coming years. It's exciting to see how anybody who is part of this industry, incorporate new tech into their marketing, promoting, commerce and distribution. It's also interesting to see the new pairings in advertising. I recently saw a commercial for Old Navy that offered a free Domino's pizza if you spent over $30 in the store.
I like seeing all the different and innovative ways businesses are utilizing mobile tech. Everyone who is in any business' target market has a mobile device and more and more of them are purchasing smart phones. This is going to give rise to a whole new era of convenience. There is an app for the iPhone that allows you to upload the back of your debit/ATM or credit card and use that to pay for your Doritos at the gas station. I won't be surprised when that is the only thing we need on our selves. Our phones will have our driver's license, credit cards, social security cards, insurance cards and anything else of importance on file. It could, theoretically, even start your car.
The future of the entertainment industry will require a lot of flexibility on the parts of everyone involved. Today, this industry demands that everyone work together to get the project done on time and promoted properly. This will require people to think of other revenue streams and projects to take on. For example, Higher Education Records is working on putting together a showcase of positive hip hop while at the same time promoting financial literacy with a business that we are partnering with. We are also working on a cause-marketing event. We have a connection with one of the Packers players and we would love to use that as an angle to put on an event.
I'm just at the tip of the iceberg with this company and I know that we have the tools and resources to turn this venture into something amazing. Stay tuned and don't be surprised when you see Higher Education Records coming to your town!
Howie Swag
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