Session

Wanted: A Survival Model for the Music Industry - Napster and the Consequences

Andreas Becker, Senior Consultant, Diebold Deutschland GmbH

Track: Business Track
Date: Thursday, February 15
Time: 3:45pm - 4:15pm
Location: Grand Ballroom

Has the music industry maneuvered itself in a position between ?a rock and a hard place?? According to some industry experts the recent process between RIAA and Napster is a clear indicator, that the music industry is lacking a clear strategy how to successfully integrate the Internet into its corporate strategy. P2P technologies and concepts are considered to be a major threat while its huge potentials for customer retention, cross marketing, 1:1-marketing and branding are ignored.

Diebold has outlined the major challenges the music industry is currently facing. Based on a analysis of the Internet strategies, the ?Big Five? record labels are currently pursuing, the talk will focus on the major mistakes these players have committed over the last 24 months. P2P pioneers with their revolutionary models of sharing and distributing information will be presented afterwards. Diebold believes that only a radical change of strategy and business models will enable the record industry to re-gain lost ground on the Internet. The talk will close with an in-depth analysis how such business models might look like.