As I have mentioned in an earlier post, my group for the second assignment will be formulating a business proposal for up and coming band, Passtime Poets. As I began to research the various ways in which web 2.0 has previously or could potentially enhance business from the standpoint of a band, I stumbeled upon the term “music 2.0.” I can’t say I was surprised to see another expression of “…2.0,” especially in relation to music since bands gain advantage over their competitors, ie. other bands predominantly via social avenues. As web 2.0 is changing the way we communicate, it is expected that bands are pouring a great deal of effort into their online, social networking audiences. In this post I aim to outline the core facets of “music 2.o” and align these fundamental ideas with enterprise 2.0 theory while drawing connections to our business proposal which aims to leverage web 2 tools to promote business for band, Passtime Poets.
*MUSIC 2.0…”Open is King”*
If you’re like me you have never heard of music 2.0 and are a little curious as to what it entails. Gerd Leonhard, a labeled “music futurist” has created a music 2.o video to explain not only what it is, but how and why the music industry should shift and adapt to web 2.0 principles for business.
In the short video Leonhard expresses that todays music listeners want buy based on clicks so the music companies should “sell it the way consumers want to buy it.” He illustrates that every facet of media has shifted from closed to open, with the advent of web 2.o and explains the need for a new model in the music industry. By creating an open, transparent and uncontrolled ecosystem, music creators and users can take back control. Leonhard explains the need for new licensing agreements, similar to an email subscription whereby users will “pay with attention” and the music companies can profit from advertising and clickstreams.
Leonhard states 8 characterisics of music 2.0:
1.) Immediacy- priority access, immediate delivery
2.) Personalization- tailored just for you
3.) Interpretation- support and guidance
4.) Authenticity- be sure it’s the real thing
5.) Accessibility- whereever, whenever
6.) Embodiment and Experience
7.) Patronage- paying simply because it feels good
8.) Findability and Curation
Music 2.0 will promote these attributes within the online music community making us “wave goodbye to scarcity and say hello to abundancy.”
In recognizing Leonhards 8 characteristics of music 2.o, I noticed that these ideas, align with some of the fundamental values associated with enterprise 2.o as a whole.
In lecture 8, Jason introduced some of the benefits of social networking…
•quicker access to expertise and resources
•more effective leadership development (ties are essential)
•better moral (social interaction builds trust)
…Also, benfits from an external standpoint:
•build relationships with your customers
•easily connect with clients, suppliers and partners
•build trust and emersion
When observing the basic concepts of music 2.0, you can draw the connection to web 2.0 and social networking. For example, bands who are already successful or bands who are trying to make a name for themselves should both harness in on building relationships with their customers. By shifting from a formerly closed music environment to a new, open and transparent ecosystem via the web and specifically web 2.o, bands and users can get what they want by staying connected. Bands certainly want to connect with clients (users), and partners, as well as build trust with their fans. It is interesting to see that these benefits of social networking apply to the musc industry (enterprise). This is yet another example of how web 2. o can enhance business functionality and help create and foster new relationships.