TGE 2014: Music streaming platforms need to develop new business models to offer consumers greater choice, a Great Escape panel has said.
The Digital Music Trends panel discussed the streaming market place after the recent struggles faced by Bloom FM. The business recently announced it had gone into administration after a key investor pulled out.
Fred Bolza, vice-president of marketing services Sony Music UK, said: ‘Many investors look at the music business with trepidation which is why so many start ups have to wait for some time before they get funding. Many potentially see it as a giant lawsuit or licensing situation.’
‘If we believe streaming is to take off, then the level of differentiation between the services needs to change,’ he warned.
Fred use the example of a service such as Sky as a business which offers a streaming service with numerous different price points as ways in for their customers.
‘In the streaming market place, we have few players offering the same thing - we need more price points whether that be higher or lower. At the moment they all look the same.’
The panel also discussed how collaborative the relationship between tech start up companies and the music industry now is compared with the past with technology now recognised as an established creative medium as well as a business.
Fred added: 'Start ups are are hacking into our corporate culture. In the past this was slightly forced but now more people are on both sides of the coin.'
Andrea Leonelli was chair of the panel and host of the Digital Music Trends podcast. Visit the website for more information.
The Digital Music Trends panel discussed the streaming market place after the recent struggles faced by Bloom FM. The business recently announced it had gone into administration after a key investor pulled out.
Fred Bolza, vice-president of marketing services Sony Music UK, said: ‘Many investors look at the music business with trepidation which is why so many start ups have to wait for some time before they get funding. Many potentially see it as a giant lawsuit or licensing situation.’
‘If we believe streaming is to take off, then the level of differentiation between the services needs to change,’ he warned.
Fred use the example of a service such as Sky as a business which offers a streaming service with numerous different price points as ways in for their customers.
‘In the streaming market place, we have few players offering the same thing - we need more price points whether that be higher or lower. At the moment they all look the same.’
The panel also discussed how collaborative the relationship between tech start up companies and the music industry now is compared with the past with technology now recognised as an established creative medium as well as a business.
Fred added: 'Start ups are are hacking into our corporate culture. In the past this was slightly forced but now more people are on both sides of the coin.'
Andrea Leonelli was chair of the panel and host of the Digital Music Trends podcast. Visit the website for more information.
