Name: Brad Gelfond
Title: Principal, Strike Up The Brand
Panel: Personal Agency: What Do Agencies Want From Artists?, Tues., June 15, 11:25am - 12:10pm. For more information visit Billboardevents.com .
What's the last album you bought?
I don't really buy albums as much anymore. I have a Rhapsody subscription and listen to new music there and on Last.fm and Pandora. I did get a copy of "Infinite Arms" by Band of Horses, and am loving it. Also the new Keane. Recently discovered (thru Last.fm) Sea Wolf - great band. Just bought new She & Him and Sleigh Bells. I think the last album I bought a physical copy of was Vampire Weekend (love them).
Do you Twitter? If so, how often? If not, why not?
Yes, I Twitter a couple to a few times a week, usually when I find some interesting news that I want to comment on or share. The news is usually just as entertaining as fiction. My Facebook posts are much more humorous, though.
What's been the best use of music in advertising you've recently seen?
The best use of music in advertising is where brands are using music content as a way for them to have a conversation with consumers or give something of value to consumers. I was involved with a great campaign with the City of New York that previewed Oasis' last album with street musicians around NYC. Amex's pre-sales programs are a good example of this, too. Amex is giving their cardholders access to premium seats. I just saw that Levi's has a new campaign with free downloads of cover songs; Gap did something similar a few years ago, as well. They are making their brand a part of the fabric of the lifestyle of their consumer, which is where brands need to be. As far as music licensed for a :30 spot, Apple's ads are fantastic. Target's ads are fantastic. But that's more of a traditional way of approaching music & advertising.
At this moment in time, what most worries and encourages you about the music business?
What worries me is that there is still a tremendous lack of understanding of consumer behavior in the music business; litigation is not the answer. It is concerning that the perceived value of music recordings has been significantly reduced. It feels as if there is still a fear and mistrust of technology from the traditional recorded music business. Stop trying to fight or ignore the paradigm shift and embrace it -- go where the new music business is.
I think that content companies need to really figure out how to monetize their content. There are many, many ways to monetize content in addition to selling albums and tracks.
What encourages me is that there's a whole new music business that has developed through fresh, new ideas. Consumers are actually paying for content in the new music business. The traditional music business needs to think outside of the 360 box; the entrepreneurs can help you!
What is the most significant moment in the history of music and advertising?
Jovan sponsoring the Rolling Stones Tour in 1981, that’s what started it all.
For more information on the upcoming Billboard and Adweek Music & Advertising event, which runs June 15-16 in New York, visit Billboardevents.com .