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Nimbit CEO: Music Industry Should Look To Silicon Valley
March 15, 2007
- Digital and Mobile
By Antony Bruno, Denver
CNET has printed an opinion piece by Patrick Faucher, CEO of Nimbit, a sales, promotion and distribution company for independent and unsigned artists.
Nothing really eye-opening here--the music industry has become decentralized and major labels no longer have the control over distribution they once did prior to the Internet. He proposes the industry take on a new identity, more resembling that of the VC-backed Silicon Valley model. Artists are the entrepreneurs, their music is the intellectual property and the investors are anyone who wishes to exploit those assets--no longer limited to just record labels.
"Now all serious artists need to conduct themselves as entrepreneurs engaged in building a business, not just playing and selling music," he writes. "Investors--including the major labels--need to understand the intricate partnership role they play in development. It's no longer about throwing money into the ether, marketing to no one in particular, and seeking only mega-hit payouts. It's about patience and commitment and focus."
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