Name: Diego Prusky
Title: President, In-Style Digital Marketing
Panel: Social Studies: Real-Time Social Networking Review (Tuesday, April 27, 12 – 1:00 pm; for more information, visit billboardlatinconference.com)

What needs to change in the Latin music business?
Managers and executives need to better understand how to measure ROI in their marketing budget. What is the cost and effectiveness of reaching a fan on TV, radio, online, etc.? When you do this, online marketing has many advantages in a good marketing mix.

Do you Twitter? If so, how often? If not, why not?
There are four people in our team that update our Facebook, Twitter, etc. I'm constantly reading about digital marketing and when something is interesting I share it, a few times a week at least.

What one revenue source do you think could make up for the drop-off in CD sales?
Nothing, the revenue of 10 years ago is not coming back, at least not in the way we know it. That's why the business needs to innovate and transform itself. But there are so many new opportunities for revenue, including streaming, lyrics, social networks, smart phone applications, sponsorships, touring, etc. We are really still at the beginning.

What most encourages you about the Latin music business today?
There's a number of startups around the world that are bringing new ideas and probably the business models of the future. In Latin music there are some encouraging success stories with iTunes Mexico and Nokia in Brazil.

What's the most important lesson you've learned while navigating your way through the recession?
The music business has been in recession since 2003 and we've had to be creative since the day we started. This helped us a lot in 2009, we were prepared and diversified.