MI2N
Music Industry News Network
SATURDAY, DECEMBER 16TH
Advanced Search
MusicDish Advertising Network
HOME | FREE NEWS SUBMISSION | PREMIUM PR DISTRIBUTION | PR COPYWRITING | RSS FEEDS | TESTIMONIALS | CONTACT

Sections: Band | Business | Career | Events | Label | Music Releases | Radio | Tech | Video | Web Events
Genres: Country/Folk | Dance/Electronica | Jazz/Blues | Latin | Rock | Urban | World
International: Asia | Canada | Europe

Advertise | Artist Development | Submit Video | MusicDish*China | MusicDish e-Journal | MusicDish Network | Urban Music News Network
Music Events (more headlines) 05-24-2014

Consumers In Asia Show Us The Future Of The Music Industry Says Universal Music's Max Hole In Keynote Speech At Music Matters In Singapore

Bookmark and Share

Music fans across Asia and the way they consume music are poised to become major drivers of the music industry in the 21st century said Max Hole, Chairman and CEO of Universal Music Group International, in his keynote speech this morning at Music Matters, Asia's leading music business event.

Asia accounts for 60% of the world's population and yet music sales in the region have to date accounted for less than a quarter of the global market, and mostly from one country, Japan. However today's rapidly developing digital and access models mean that the music industry has a once in a generation opportunity to foster dynamic and growing music markets that reflect the region's size and cultural importance.

Hole argued that China is in the position of being able to jump straight to the next stage in the evolution of music consumption behaviour. "When I look at the Chinese music industry, despite its difficult past, I see the future," said Hole. "China is not only the world's largest country, it is also the world's biggest experiment in testing the new business models of the future.

"The Chinese have virtually bypassed the business model that we came to rely on so effectively in the West and Japan over the past 50 years. The traditional model of purchasing musical product, be it physical or digital, has never really existed in China on any major scale. The market is moving straight to one where it's all about securing access to tracks. We are in the middle of an extraordinary transition and it's very exciting to be part of it."

Hole argued that across Asia, the fundamental challenge is building strong music eco-systems to fund the development of local talent – something that requires a new approach from business, consumers and governments. "As an industry, China is our billion people challenge," said Hole. "If we touch all of these consumers, just once a year, in some form, then we will generate more Yuan to re-invest in China and build our businesses."

For Chinese music to become globally successful Hole explained that there are three key areas that need to be addressed: "We have to work together to secure the support that we need from business partners, regulators and business; we cannot make short-term deals which secure jam today and store-up problems tomorrow; and we have to remember that if we deliver good Chinese music in an environment where it can be bought easily, cheaply and legally, then we will all prosper."

Hole spoke about how weak local ecosystems mean low investment in local talent. "We are determined to help local artists make a business they can be proud of," he said. "In the last 50 years the music industry has made 80 per cent of its money in about 10 countries, and too much of our money in Asia with artists from outside the region. In the next 30 years I believe this has to change. The 80/10 split is bad for business, bad for artists and bad for fans. The real opportunity is turning the 80/10 into something more evenly balanced. Indonesia, China and India are key markets for us in achieving this. "

On Japan, Hole discussed how the largest music market in Asia is "Unique and remarkable in many ways," from being the home of innovations such as the '360 degree' business relationship to the presence of retail price maintenance and the current difficult transition to new digital-led areas of growth.

"Now is the time to innovate, take some chances and truly welcome the digital revolution," said Hole. "A healthy Japan means a healthy global record business. It is imperative that we all work together – record companies, artist management companies and music platforms – to revitalise the business."

Bookmark and Share

back | top



MusicDish Advertising Network

Mi2N Music PR

The Ed Sheeran Of The Hare Krishna World: Meet Cyril Wohrer

"Mountain Songs" Music From The Heart Of The Mountains

Hybrid Studios Now Offering Online Disklavier Services

Roger D'Arcy Releases 'TUMBLING' From Latest Album HOUSE OF HEADS

Katie Garibaldi Releases Original And First Ever Holiday Album, Home Sweet Christmas

Dark Avenue Premiere "The Light" Music Video

A True Life Touching Song Wins Top Honors In The 22nd Annual USA Songwriting Competition



MusicDish*China Song Blast
Promote Your Music Single In China

News Headlines
Mi2N EDITOR'S PICKS
» Kobalt Capital Closes Second Music Royalties Fund With $600 Million In Investment Capacity
» Rare 78rpm Records Are Being Digitized Using Prism Sound Titan Audio Interfaces
» Asylum Records Relaunched In U.S.
» Emiko Releases New Music Video Highlighting Survivors Of Sexual Abuse
» Billboard Single “God With Us” By CLARĒTA Haddon Gains Mainstream Radio Traction
» Jon Batiste Becomes Music Director Of The Atlantic
» Amazing Music Tracks - Free Music Licensing
» Rick Vines All Stars Travel To SPACE! Mon Dec 4th!
» LOVE MY COUNTRY! Is The Ultimate Compilation Series Featuring 20 Hot New Hits
» New Rock Band Cathedral Reign Recording New Music


Get your music news covered...
Have your press release written
by the pros at Mi2N

Articles
MUSICDISH E-JOURNAL
» Lithuanian Band Grabs Bronze At The Silk Road Indie Music Festival 2017
» Live Entertainment Specialists Headliner Launch Premium Artist Booking Service
» Voice-Controlled Speakers & The Music We Listen Too
» Nordic & British Musicians' Unions' Joint Statement On Sexism In The Music Industry
» Women Make An Impact On The 2018 MPG Awards Shortlist
» The Nashville Musicians Sound Healthcare Plan Rolls Out
» Streaming & Listening Diversity - Spotify Case Study
» Two-Sides Of Copyright Finance: Sound Royalties & Kobalt
» Career Moves: ROLI, Live Nation Sweden, Music Glue, BBR Music Group, Warner/Chappell Music Spain & Blue Night Soundscapes
» Europe's Digital Music Leaders Form Alliance
» Pandora Subscriber Base Grows To Over 5 Million
» Hybrid Studios Announces Online Mastering Services

Mi2N's Music PR distribution service guarantees online exposure for your press release. Choose from seven (7) different packages.


HOME | FREE NEWS SUBMISSION | PREMIUM PR DISTRIBUTION | PR COPYWRITING | RSS FEEDS | TESTIMONIALS | CONTACT

Sections: Band | Business | Career | Events | Label | Music Releases | Radio | Tech | Video | Web Events
Genres: Country/Folk | Dance/Electronica | Jazz/Blues | Latin | Rock | Urban | World
International: Asia | Canada | Europe

Advertise | Artist Development | Submit Video | MusicDish*China | MusicDish e-Journal | MusicDish Network | Urban Music News Network
Copyright © 1997-2017 MusicDish LLC, all rights reserved. Text, graphics, and HTML code are protected by US and International Copyright Laws, and may not be copied, reprinted, published, translated, hosted, or otherwise distributed by any means without explicit permission.