The electronic music industry is fast paced, constantly evolving, and through today’s technology everyone’s attention is narrowing quicker than an artist’s record sale income stream. Amidst the haze of Prince’s passing last Thursday, a bunch of industry heavyweights came together to discuss the future of EDM and technology in the music and film industries.
International Music Summit is a thought platform that holds events throughout the world – namely Ibiza, China, Singapore, and LA – and last month, successful industry executives and influencers interviewed one another to promote discussion, ideas, awareness, and appreciation of electronic music and its related fields. On April 21, 2016 IMS held a summit at the W Hotel in Hollywood, in which the state of the electronic music industry was heavily addressed by the likes of Pete Tong, Bob Lefsetz, Marc Geiger (WME), Lee Anderson (AM Only), and James Barton (Live Nation), to name a few. Here are several of the highlights:
Pete Tong has been fascinated by the rise of live electronic acts like Odesza, and predicts that
“We’re going into an era of performance.” – Pete Tong (DJ, BBC 1)
He continues: “People are confident to get up and perform, like Odesza. That’s something the US should be proud of.” This appears evident in the fact that while festival hype and ticket sales are decreasing in momentum, live acts like Odesza and Disclosure are able to sell out multiple shows a year in the same region. However, Bob says not to worry, and that Dance music is here to stay, with the comment that
“If they eliminated the dance tents at Coachella, the event would be over. The audience still wants this.” – Bob Lefsetz (Lefsetz Letter)
Dance music as an industry is clearly still on the rise. Here are a few more gems from the discussion:
“For every Calvin Harris, for every Skrillex there are kids in their bedrooms making new shit that we’ve never heard before.” – James Barton (Live Nation)
“My job was to bring attention to new artists, but with Prince, there was little I needed to do.” – Ted Cohen (TAG Strategic) on working with Prince.
“In 40 years, when you look back on this time I want to work with the artist that will have a chapter in the book.” – Lee Anderson (Agent at AM Only)
“Netflix will buy Spotify, calling it now” – a bold statement by Marc Geiger (WME)
“If you make it easier for people to listen to music in their life, they listen to more” – John MacFarlane (CEO Sonos)
*You can watch all the talks from the event for free here.*
Header photo courtesy of IMS Engage.