Troy Carter on The Next Big Thing in Music – Trapital

Troy Carter, co-founder and CEO of Venice Music, joined us at the Trapital Summit for a big picture conversation on what’s next for the music industry. In our talk, we discussed the contraction in streaming, shifts in power and consumption, and where future opportunities lie.

Troy is optimistic about the shift toward independence in music and highlights that the major label systems may not be the frontrunners of future industry changes. With increased capital from private equity and streaming cash flow, there are significantly more pathways for growth outside traditional systems.

We discussed

• The current state of the music industry
• The role of major labels and their traditional control over the market
• How new revenue streams such as ‘super premium tiers’ are emerging within the industry
• Managing price sensitivity in streaming services and the comparison with services like Netflix
• Insights from Troy’s conversation with Netflix’s Ted Sarandos on balancing technology and creativity
• The potential for independent and tech-savvy companies to disrupt the traditional music industry
• How technological advancements like synthetic artists and holography are poised to revolutionize live experiences
• The crucial role of “taste” in differentiating successful music ventures despite technological advancements
• The future of streaming and beyond, anticipating substantial shifts within the next decade
• Collaborative relationships between tech companies and the music industry and the challenges therein

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