Monday, 22 June 2009

Digital Music News about the German Popkomm

I saw this article on Digital Music News written by publisher Paul Resnikoff today. And, as you may guess, I totally agree with him. Really really liked how he described the whole "situation" in the music indusrty at the moment, and hope, you will, too:

Be thankful that Popkomm got canceled. At least the organizers had the balls to wait till next year, and the honesty not to take your money. Instead of half-filled floors, half-filled panels, and lots of lost productivity, Popkomm is wisely taking a break. And that means that would-be attendees and advertisers can save the travel, setup, and time costs, and focus on their core businesses - at home. The cancellation may have been surprising, though the reasons are obvious. Piracy is just one part of the equation, one that squarely affects major labels, retailers (traditional, online, and mobile), and everyone else tied into the recording (and yes, publishing) industries. But suddenly, dumb money is nowhere to be found, and VCs are wisely being quite cautious around music. Doom-and-gloomy? No, just realistic. Either way, the silver lining is important to recognize. In the absence of hype-filled startups and bloated investments, the post-disruptive reality starts to arrive more quickly. The scrappy, bootstrapped startups you need to know about are just getting started - and they can't afford expensive conferences anyway. And what about the other mega-events? The pressure now shifts towards Midem, an event that was ill-attended in January. Will there be another South of France flyaway in January? Taking a year off is a serious move, but justifying this event is tough - especially following the Popkomm decision. In the new climate, leaner executives are increasingly questioning the wisdom of huge get-togethers like Popkomm and Midem. Are these serious business events with real dealmaking, or parties? And what about South-by-Southwest? A much different animal, SXSW still had a healthy crowd last March, albeit with far more college kids than industry executives. But SXSW has always been a local event, one less dependent on A&R and digital professionals. And the rest? Some of the smaller events will continue to struggle through, with lower-than-normal crowds. But the tenor of these events is also shifting - does anyone really need glowing show-and-tells from struggling companies? The frothy days are over, at least for now, and the less-romantic future belongs to leaner companies with sustainable models. Popkomm has wisely decided to stop pretending.

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