Monday, August 25, 2008

For Gen Y, Music is Oxygen

Great post on YPulse from Larry Weintraub, the CEO of Fanscape, following an interesting survey on Music behavior of Gen Y, both are must-reads.
Due to lack of time, I'll reblog some of the key points from Lirix CEO (and add):
  • Youth Still Aren't Paying For Music...
  • Youth Discover New Music Through Social Media
  • Artwork is important
  • Concerts Are Cool, When They're Cheap
  • Music Isn't Mobile...Yet
  • But understand this, they love music. They consume more music than previous generations.
  • The takeaway is that these young people have grown up in a generation where recorded music is traded, downloaded, and consumed with very little monetary exchange...

Young people today may not be exchanging much of their money for recorded music but they are giving their time.

This is exactly what Adva Mobile is all about: Figure out this ecosystem where:
  • There is plenty of creativity (artists)
  • There is plenty of demand (fans)
  • Traditional revenue channels need to be replaced

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