Allow me to “Dee-brief” everyone on the latest Electronic Music news. This particular post is geared toward #realtalk.
As all music veterans know, the industry was slammed when the MP3 era came around. We had major record labels, like Sony, getting rid of their dance music divisions because there was no reason to keep it around. But now it seems we've come full circle and those divisions are returning. Here's a sign: Big ups to Ultra Music's duo team Taryn Waight and Lindsay Lipsay for their new position at Warner Bros. Records. Warner Bros. is getting their dance music division back on track with these new hires. I love this quote from Taryn stating, “My mom didn't really know half the artists I worked with,” so many of us working in the field can attest to that!
To see acts like Tiesto or Underworld headline big events such as the Olympics or advertising campaigns like Avicii for Ralph Lauren was unheard of a few years ago, let alone a decade ago. Nowadays, to hear your nephew or niece spout off that an artist or sub-genre in electronica is pretty dope. They'll even drop the acronym “EDM" (relax people, it just means 'electronic dance music') now and again - a testament to those who have built up this left-out stepchild for many years.
With the topic of brand and strategic partnerships fresh at hand, this leads us to the next topic of acquisitions and buyouts, from Shazam to Soundcloud. The Universal Group, Warner Bros. Group and Sony Music Entertainment have bought into Shazam, a music identification service worth about $500 mil, according to the latest estimates. Almost everyone I know in the scene has used this free app that helps you identify songs. This brilliant app rarely lets anyone down, and still doesn’t (Ed. note: unless your a DJ and some bro is trying to trainspot your set. Not cool.)
Speaking of Warner Bros. they are getting sued by their interns for unfair work practices, basically because they didn't get paid. Hence, internships? Whatever, I am sure it won’t even make a dent in their annual gross sales or, better yet, the executive staff’s bonuses.
Twitter has taken interest in buying out $700 million SoundCloud. While SoundCloud appealed mostly to DJ’s when it first came out, it is now also used for producers worldwide to share their productions via a cloud-based workplace.
We are still in a strange growing phase, SFX reported a net loss of 63.6 million in their quarterly results, but on the flip side they have but have drastically increased their market share. The question of the hour seems to be if EDM can sustain, or will it be obliterated by some other trend, causing an exodous of fans? Will EDM be tossed out like a bad pair of bell bottoms? Time will tell...
Post Script: Dear Napster, You would have made a killing if only you were 15 years later. You combined the music industry and Internet sharing forever, molding a market that could not be shaken even by the RIAA.