Podcast Summary
Gary Vaynerchuk's major project and TikTok's impact on music industry: Gary Vaynerchuk encourages his community to prepare for his project by having Ethereum in MetaMask wallets. TikTok's obsession with music and partnerships with industry players drive its growth and influence.
Gary Vaynerchuk is releasing a major project on May 5th, and he encourages his community to prepare by having at least 1 Ethereum in their MetaMask wallets. He emphasizes the importance of this project for his OG community and his commitment to making it a fruitful investment for them over the next 45 years. Jim Malika, the first global CMO in Bose history and a 25-year marketing veteran, was a guest on the podcast. He shared insights about his experience in the industry and TikTok's global growth and music strategy. Ulla Oberman, the global head of music at TikTok, also appeared on the podcast. She discussed the platform's obsession with music and its partnerships with labels, publishers, and artists. The conversation highlighted the importance of music on TikTok and the platform's collaboration with the industry. Overall, the podcast episode showcased the guests' expertise and insights into marketing, media, and digital commerce, as well as the power and impact of TikTok on the music industry.
TikTok's Impact on Music Industry as a Marketing and Promotion Machine: TikTok's user-generated content enables real-time artist-fan engagement, leading to potential career-changing opportunities and viral songs that enter charts on streaming services
TikTok plays a significant role in the music industry by acting as a powerful marketing and promotion machine, amplifying both unsigned and major label artists. The platform's user-generated content (UGC) enables artists and fans to engage in real-time conversations, leading to creativity and potential career-changing opportunities. TikTok's impact is evident when a song goes viral on the platform and quickly enters the charts on streaming services like Spotify, Apple Music, and Amazon. The platform's ability to discover and promote new talent is invigorating for the music industry, and the power of UGC is a game-changer in the artist-fan relationship.
Consumer interest in educational and personal growth content drives audio consumption evolution: Stay open to new platforms and trends in audio marketing as consumer preferences shift towards innovative formats like podcasts and 3D audio.
Consumer behavior towards audio consumption outside of music is evolving, with a growing interest in educational and personal growth content. The speaker, an executive in the music industry, shares his personal experience of discovering TikTok and being blown away by its potential for music marketing. Looking ahead, he sees the future of audio being shaped by innovative formats like podcasts and 3D audio, offering new dimensions to storytelling. These developments underscore the importance of staying open to new platforms and trends in the ever-evolving world of audio and media.
Bose's Exploration into Podcasting: Bose, a premium audio company, recognizes the potential of podcasting for deeper audience engagement and immersive listening experiences, despite challenges in measuring ROI.
Bose, a company deeply rooted in premium audio experience, recognizes the growing opportunity in podcasting and the unique listening experience it offers. The CMO, new to the role, was surprised by the passion and commitment to audio within the company, with many employees being musicians. Podcasting presents an authentic and immersive way to engage audiences, and Bose aims to explore this further. However, there are challenges, such as measuring the return on investment for podcasting compared to traditional marketing methods. Despite this, the potential for podcasting to enhance the listener experience and connect with audiences on a deeper level is seen as a worthwhile endeavor. The CMO's own engaging podcasting voice and the popularity of Bose earbuds for podcast listening further highlight the potential for Bose in this space.
Effective communication in meetings: In-person or virtual?: Gary Vaynerchuk emphasizes the importance of having everyone present in the same format for full engagement, while Amy Saroukas advises not compromising on individual perspectives and highlights technology's role in enhancing human connection and creativity in the music industry.
Effective communication through meetings is crucial for business success, and the use of either physical rooms or virtual Zoom meetings is essential for full engagement. Gary Vaynerchuk emphasized the importance of having everyone present in the same format, either in-person or virtually, to avoid disengagement and ensure productivity. He also highlighted the potential benefits of noise-canceling technology and podcasts for focus and human connection. Amy Saroukas, Microsoft's director of strategic partnerships, advised not compromising on individual perspectives and emphasized the importance of technology in the music industry, enabling artists to connect with fans and showcase social causes. Overall, the future of music, audio, and sonic branding lies in leveraging technology to enhance human connection and creativity.
Microsoft's exploration of new ways to connect fans with music artists: Microsoft is innovating in music industry by using technology to expand fan-artist connections, exploring podcasting space, and valuing sonic branding.
Microsoft is exploring new ways to connect fans with music artists and expand those connections beyond physical events. This includes the use of technology to innovate in the creative space and help artists bring their vision to life. Additionally, Microsoft has a strong history with music and is also looking into the podcasting space to explore new sonic experiences and interactive ways for fans to engage with content. Microsoft values the importance of sonic branding and continues to consider how it comes to life across their products and marketing. Overall, Microsoft is excited about the potential of blending virtual and physical experiences and using technology to enhance the connection between artists and their fans.
A shift towards independence in music and experimentation in podcasting: Independence is on the rise in music with more control for artists through tools like blockchain, while podcasting explores visual components and new ways to engage audiences
There's an exciting shift happening in both music and podcasting industries. In music, there's a growing trend towards independence with outside capital flowing into the independent music space and artists gaining more control through tools like blockchain. This could lead to a significant tipping point where artists have even more leverage, similar to what's happening in the NBA. In podcasting, there's experimentation with visual components and different ways to experience podcasts, opening up new opportunities. Personally, Jamie enjoys Michelle Obama's podcast and is a big fan of the Pixies and Fontaine DC in music. Amy, a non-executive, shares her enjoyment of Michelle Obama's podcast and her love for the Pixies and Fontaine DC. Overall, there's an exciting time of change and growth in both industries.
NBA on the brink of major shift towards player ownership and potential breakaway league: The NBA may undergo a significant transformation due to player leverage and blockchain's potential to simplify ownership structures in industries like music.
The speaker believes the NBA is on the brink of a major shift towards player ownership and a potential breakaway league, as the top players hold significant leverage due to their popularity and the ease of distribution for their games. He also sees potential in the use of blockchain technology in the music industry to simplify ownership and royalty structures, an idea that has become clearer to him in the last few years. The speaker's conviction is based on the complex structures in industries like music that are designed to maintain the status quo and the potential of blockchain to streamline these processes.
Artists and creators exploring new platforms to monetize work and engage with audiences: Artists are turning to NFTs, podcasting, and Clubhouse to bypass record labels and connect directly with fans, offering unique experiences and potential revenue streams.
The next few years will see a significant acceleration of artists and creators exploring new platforms and technologies, such as NFTs and podcasting, to monetize their work and engage directly with their audiences. Record labels, which have traditionally held power through financial resources and distribution, may find their relevance diminished as artists seek greater control and direct connections with fans. In the audio space, while podcasting holds potential, the consumer experience leaves room for improvement in terms of discovery and curation. Clubhouse, on the other hand, has built a unique community through its live audio rooms and shows promise in offering a more engaging and interactive experience for creators and listeners alike. Additionally, privacy concerns have led some individuals to avoid using smart speakers in their homes. Noelle Whitmore, a music industry veteran, shared her story of discovering Clubhouse during the pandemic and how it led her to producing and directing a viral musical event, ultimately landing her the role of CMO at GeoJam.
Discovering unexpected opportunities through serendipitous connections and pivoting during challenging times: Reflect on core values, pivot when necessary, and embrace the power of audio for authentic self-expression and connection building.
Serendipitous connections and the ability to pivot during challenging times can lead to unexpected opportunities and personal growth. The speaker shared her experience of discovering a unique use case for interactive podcasting during the pandemic, which trended nationally and led to her joining GeoJam as CMO. She emphasized the importance of reflecting on core values and being in service of others during difficult times. Audio, as a medium, allows for a raw and authentic self-expression, free from the constraints of physical appearance or video production. The speaker's personal story highlights the power of audio to bring joy and create connections, especially during times of isolation. Through her experiences, she learned to appreciate the unique potential of audio as a form of content and looks forward to new ways of engaging audiences in this medium.
Leveraging Audio for Brand Building: Brands can use audio through podcasts, Alexa skills, and music platforms to engage consumers, build communities, and effectively market through catchy tunes and artist partnerships.
Audio and music are becoming increasingly important in engaging consumers and building communities. Whether it's through podcasts, Alexa skills, or music platforms, these mediums allow for imaginative consumption and community building. Brands like ELF Cosmetics have successfully leveraged music and audio to create global sensations and connect fans directly with artists. The use of catchy tunes and artist partnerships have proven to be effective marketing strategies. The future of brand building lies in weaving audio into the fabric of marketing efforts. As seen with ELF's success on TikTok, audio can transform a beauty company into a global music sensation overnight.
Brands thriving at intersection of imagination, self-expression, and culture: Elf Cosmetics' success on TikTok and beyond is rooted in identifying underpriced culture, authentic navigation, and engaging consumers through various senses
Successful brands, like Elf Cosmetics, thrive at the intersection of imagination, self-expression, and culture. They challenge traditional boundaries and industries, thinking beyond their role and brand to create dynamic, multifaceted orbits that attract and retain large audiences. Elf Cosmetics' success on TikTok and Republic Records led them to create a holiday album with emerging artists, reaching charts alongside music industry giants. The key to their strategy is identifying underpriced culture and attention, authentically navigating new environments, and seducing consumers through various senses, including audio. Employees are encouraged to think beyond their role and industry, and Elf Cosmetics sees themselves as an entertainment company that also makes makeup and skincare. By being dynamic, multifaceted, and creating engaging experiences, they have built a loyal following of 10 million people.
Podcasts and Live Audio: A Daily Routine: Listeners use Apple, Spotify for morning routine podcasts, consume more content during pandemic, excited about live audio engagement on Clubhouse, unique white space in market, upcoming marketing events, importance of audio content and technology
Podcasts, voice technology, and live audio platforms like Clubhouse are becoming integral parts of people's daily routines for news, entertainment, and engagement. A podcast listener shared how she uses Apple and Spotify for her morning routine, which includes a mix of daily news shows, interviews, and personal favorites. She also mentioned consuming more podcast content since the COVID-19 pandemic. The listener also expressed excitement about the live audio experience on Clubhouse, which allows for direct engagement with creators and guests. Clubhouse was praised for finding a unique white space in the market, but it remains to be seen how other platforms like Instagram, Twitter, and Facebook will respond. The listener also mentioned attending marketing events in Australia and shared upcoming episodes featuring business leaders. Overall, the discussion highlights the growing importance of audio content and technology in our lives.
The power of collaboration and knowledge sharing: Collaborate and learn from others to achieve success, stay connected and engaged with the community for continuous growth.
The discussion highlighted the importance of collaboration and knowledge sharing in achieving success. The guests, including Andrew and the speaker, brought valuable insights and experiences to the table, emphasizing the power of learning from each other. The conversation also touched upon the importance of staying connected and engaged with the community, as exemplified by the speaker's encouragement to follow him on Twitter. Overall, the discussion served as a reminder that continuous learning and networking are essential components of personal and professional growth.
