Trapital

In this episode, we sit down with Will Page, economist and author of Pivot, for a deep dive on the global economics of music. Using Will’s latest Global Value of Music Copyright Report, we explore streaming economics, global market gaps, AI, and where the music industry’s next phase of growth may come from. CHAPTERS 02:45 Global Value of Music: 10 Years in Review 11:24 Emerging Music Markets 13:37 Africa’s Music Economy 18:11 Brazil’s Music Market 21:12 The Crocodile Smile 33:18 AI and Music’s Future SPONSORS Chartmetric: Listen in for our Stat of the Week beatBread: Smarter choices. Better deals. GUEST Will Page, former Chief Economist of Spotify and PRS for Music, Author of Pivot LINKS Global Value of Music Copyright - Will Page TRAPITAL Where technology shapes culture. New episodes and memos every week. Sign up here for free.

Explore the fascinating world of prediction markets, where Polymarket and Kalshi blur the lines between securities and sportsbooks. Take a journey through the history of these markets, starting from 1860s election betting to their modern rise. Dive into the distinct opportunities in macro economic risks versus sports and entertainment. Learn about the manipulation risks involved, liquidity dynamics, and the regulatory landscape shaping their futures. This discussion sheds light on why these financial tools are more relevant than ever!

Zack O’Malley Greenburg, an insightful author and journalist, dives deep into the fascinating evolution of MTV. He discusses how MTV transformed from a video platform into a cultural powerhouse, highlighting key moments like Michael Jackson's 'Billie Jean' breaking barriers and Madonna's iconic image. The conversation explores the shift to reality TV, the impact of MTV's cultural influence, and its eventual decline marked by clip shows. Greenburg also critiques MTV's failure to adapt in the digital age, pondering its lasting legacy in music and entertainment.

Tatiana Cirisano, VP of Music Strategy at MIDiA Research, dives into bold predictions about the music industry. She discusses the long-term viability of major record labels, suggesting they may need to innovate or shift to asset management. The possibility of a Netflix and Spotify merger is analyzed, with skepticism about its strategic fit. Tatiana also explores the fragmentation of mass culture and the potential for AI-powered tools to create new growth opportunities, including enabling independent artist-run labels.

This discussion dives into the fascinating dynamics of the Grammy Awards, highlighting the rise of international artists like Bad Bunny and Kendrick Lamar's nominations. Guests analyze the evolution of the voting body and its attempts to diversify, touching on how past winners might have changed under a new system. Economic impacts of Grammy wins are unveiled, revealing how winners experience significant boosts in both income and touring opportunities. The conversation also imagines alternative outcomes for iconic past nominees, sparking lively debates on cultural shifts.

Nathan Hubbard, music executive and CEO of Firebird Music Holdings, shares insights on building successful businesses around artists. He discusses Firebird's mission to create sustainable artist careers through innovative investment strategies. Hubbard highlights the importance of aligning artist incentives with long-term success and explains the role of management companies in this process. He also explores talent discovery using data-driven methods and argues that Taylor Swift exemplifies the ideal artist-CEO, effectively managing her brand and business empire.

In this engaging discussion, Jason Sklar, a partner at Shamrock Capital with over ten years of experience in investing across music, film, and gaming, shares valuable insights. He explores the booming market for music rights and the diverse approaches different buyers take. Jason also delves into how AI is shaping fan interaction and music experiences, and highlights the complexities of valuing film rights. With a focus on integrating music into gaming, he outlines exciting investment strategies and opportunities in this ever-evolving landscape.

Andrew Sanchez, CEO of Udio, dives into how AI is reshaping the music industry, emphasizing creative co-creation over replacement. He discusses the importance of fostering trust between artists and technology while exploring innovative business models for monetization. Tati Cirisano, VP at MIDiA Research, adds industry insights, prompting a reflection on historical tech shifts and the need for cooperation. Together, they envision a future where artists and fans collaborate more closely, creating equitable frameworks and unique musical experiences.

Steve Pamon, CEO of VERZUZ and a veteran entertainment executive with experience at HBO, NFL, and WWE, shares insights on creating impactful live events. He discusses the art of storytelling and team execution in scaling moments into franchises, using examples like Beyoncé and Coachella. Pamon warns against high ticket pricing that alienates fans and highlights the importance of consistency and cultural conversations. Additionally, he reflects on logistics and fan experience improvements, revealing lessons learned from the WWE and the challenges of distribution in the music industry.

Andreea Gleeson, the CEO of TuneCore, discusses her passion for empowering independent artists while diving into TuneCore's global impact and recent growth milestones. She highlights the significance of both superfans and micro-audiences in an artist's strategy. Gleeson also shares insights on upcoming tools and features designed to help artists maximize their reach and revenue. With the independent music scene booming, she addresses challenges such as market fragmentation and the influence of AI. Tune in for an inspiring look at the future of music.