The entertainment industry has been fundamentally transformed by the digital revolution. Music professionals and festival organizers face new challenges and are able to exploit new opportunities.
The DJ, event or festival is a network. Content is the driving force that connects the DJ, event or festival to fans and clients. Data are the additional economic value.
You, the DJ, the manager and the event or festival producer, must address the context of the digital domain.
Artist and event producers must take control of their future. They have to understand intellectual property rights, including copyrights, patents and hallmarks that protect their assets.
This chapter will discuss the internet ecosystem. What is its role? And what does it entail for the EDM industry?
What is the (new) business model of the entertainment and music industry? What does this entail? What is the artist’s value proposition in the world of EDM?
In establishing an organization, questions like: Why are we doing what we do? How are we realizing our aims? What exactly is it that we want to do? will be addressed.
The digital strategy enables the creation of new value models and income models from the social media and the relations of all parties concerned.
It is a given that for many the collection of information from a fan base is not the most sexy aspect in the world of EDM. However, this is a crucial chapter for DJs and event producers.
By regarding the internet ecosystem as a business ecosystem, one actually sees the emergence of new value models in the relationships of all parties that make up the internet ecosystem.