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[MUSIC INTRO]
SPEAKER 1: Everything starts with the artist. I think we
appreciate that it's slightly different to some of the
formats and media that these guys have been talking about,
that everything starts with the artist and emotion around
the artist and the music that they're creating.
So I think for us it's how we augment that through new
channels, through new partnerships, and essentially
something to the point recently around traditional
peer to peer.
Where social media is just replicating what used happen
around pubs and clubs and schools and people talking
about music, this is now happening online in social
media environments that we can capitalize on and be in
and be a part of.
Bragging and badging rights with the music are key for us.
People want to be seen as the biggest fan of that artist.
And I think the more we allow them to be that in to some
extent a controlled environment, the more they
will perpetuate that message of the artist and their music,
so fan advocacy is key for us.
SPEAKER 2: This is a tough world
financially for you guys.
So does a lot of that have to come out of the artist's pay?
SPEAKER 1: It depends on the deal we have with an artist.
We have a lot of what they've been recently terming
360-degree deals.
So where we look after the recording rights, the live
rights, the merchandise rights, brand sync, licensing
deals, those kind of things.
And I think we recently restructured and we now term
ourselves a global rights management company.
We're still in the music business, but not necessarily
just the recorded music business.
So I think the deals differ, but I think most of these are
now joint ventures with artists.