Last month, Reprtoir went back to NY:LON in London. This is probably one of the most interesting events in the music industry to us, so we thought we would take the time to tell you all about it!
The place for innovation in music
First things first: Innovation was for sure one of the core topics that were addressed during NY:LON. And, it won’t come out as a surprise, we were glad to be there to hear what the industry has to say about new solutions!
We heard a lot about new media. On that front, many questions are still up in the air; where is music going to fit in the future tech environment? How can the music industry be guided in this new endeavor? We got to hear a few panels on the matter, showing how much this sector is moving. We still have a lot to define, we’re certain discussions are happening as we are writing these lines.
One of these panels stood out. Universal Music Group’s team was here to talk about new models in the music industry and the implication of innovation, especially regarding the management of music rights. NY:LON represented an opportunity to bring up some underlying needs, such as the best way to navigate the transition for the main music industry players or to manage fair payments to artists.
It goes without saying that a few discussions tended towards Web3, the implications of music in the metaverse and the global digital content creation. Incidentally, the balance between physical and digital support took some space in the conversation. There are still major steps to solve problems on payments, from one to another for the music industry. Which led to the common thread of NY:LON: Ethics.
Transparency in the music industry
One key takeaway from NY:LON is the clear awareness that the music industry needs to evolve. A major shift is going to happen on music consumption: people are going to listen to music in a new way, with the democratization of NFT, metaverse, new social interactions online, etc.
For some parts of the music industry professionals, NFT can be presented as a solution. For others, solutions are residing in resolving our current practical problems. In any case, the need for a change is clear to everyone. There are a range of solutions available to try and answer these needs, all while keeping at heart the need to protect the rights of songwriters and artists.
The gathering term: Ethics
Indeed, no matter the debate, at the core of all concerns was transparency. Making sure that we know how rights are managed, how they flow through new techs and new operations from music is a growing aspect many actors care about. The question is now to make sure that we can facilitate the bond between paying artists and data transparency.
On that front, Reprtoir has its place to be part of the discussion. An ethical approach of payment and data management is at the core of our solution. Our workspace, by essence, is built on proper data management and a spotless royalties management system, through which you can give access to Rights-Holders, so they can see where their rights are coming from.
Reprtoir facilitates the fact that creators are getting the money they’re owed and makes sure that companies are being paid. We don’t control the financial management aspects, but we are easing the process. Making sure that you’re as efficient as you can possibly be is part of caring about the Ethics of rights management.
All in all, NY:LON was, as per usual, a very focused and well-curated meeting for the music industry professionals. This year though, it felt a little more special to us, to unveil a strong will to find the right solutions to support transparency, data management and payments throughout the music industry. We are here to help, and Reprtoir has always had a strong ethics built in solutions.