SHAPING A NEW ERA IN MUSIC

“A big album worldwide will sell about seven million units but during the course of a year many more people will listen to and enjoy the album. This is about lighting up all these other consumers.” Rob Wells, senior vice president, digital, Universal Music Group International “Every year we are seeing increased use of music and what we are doing as music companies is finding new ways of playing into that interest.” Thomas Hesse, president, global digital business, Sony Music Entertainment “With the advent of the access model, the music industry’s economic model is at last aligned with the mobile industry’s. Both will view the world through the same lens – average revenue per user, commonly known as ARPU.” Edgar Bronfman, chairman & chief executive officer, Warner Music Group “There is a multi-trillion dollar economy of digital connectivity, made up of digital networks, wireless, broadband and hardware. Music is extremely important to this economy and the driver for a wide range of larger industries. These industries are thinking about how to partner with the music industry in new ways. The health of the music industry is going to contribute significantly to the health of this trillion-dollar economy.” Michael Nash, executive vice president, digital strategy and business development, Warner Music Group “We don’t sell records any more, we act wherever people experience music, from digital and physical formats to all the other ‘touchpoints’ of the music experience: from being part of the discovery process, to music in games like Rock Band and Guitar Hero or recording and selling music at live events and so on. Our role is not to put physical discs on a shelf but to reach consumers wherever they are.” Elio Leoni Sceti, chief executive of EMI Music “Social networks have been terrific for fans looking for bands they know, but far more challenging as a way of finding new bands. We have to help fans find music wherever they are at the moment they want it. If we can do that we will find ways to monetise it.” Douglas Merrill, president, digital business at EMI Music “The record company has two fundamental roles and both are from time to time undervalued and misunderstood - one as an investor, the other as a provider of skills and services. These roles are always going to be required.” Martin Mills, chairman of Beggars Banquet