As we end the year, Hypebot asked some our favorite thinkers, writers, and friends to answer two questions—one looking forward and the other back. Here Panos Panay, the founder & CEO of SonicBids, answers.
Hypebot: What do you see as the most important business and consumer trends that will shape the music industry in 2011?
Panos Panay: Basically, two major trends emerging: First, I see consumer brand marketing and consumer brand spending playing a bigger and bigger role in the way that music is funded, marketed, promoted, discovered and consumed.
In many ways, I see us going back to the patronage days of the pre-recording era musicians. Second, social media is fundamentally changing the relationship and traditional roles of fans and artists/creators. The traditional barriers between consumer and producer, artist and fan, audience and performer are eroding.
How will this change the way that music is created? How will this impact the way that music is experienced and shared? Social media is changing everything and the music industry will once again be on the forefront of this shift.
Hypebot: Since this is ultimately all about music, what were your top musical moment(s) of 2010?
Panos Panay: Seeing Muse do a surprise show at SXSW; NARAS getting “indie" music (though I want to abolish that word); The Beatles going on iTunes finally seals the argument about digital music; Arcade Fire's “The Suburbs" is a great album; the release of the iPad (yes, the iPad) providing a brand new channel for music to be consumed and experienced.
Hypebot: What do you see as the most important business and consumer trends that will shape the music industry in 2011?
Panos Panay: Basically, two major trends emerging: First, I see consumer brand marketing and consumer brand spending playing a bigger and bigger role in the way that music is funded, marketed, promoted, discovered and consumed.
In many ways, I see us going back to the patronage days of the pre-recording era musicians. Second, social media is fundamentally changing the relationship and traditional roles of fans and artists/creators. The traditional barriers between consumer and producer, artist and fan, audience and performer are eroding.
How will this change the way that music is created? How will this impact the way that music is experienced and shared? Social media is changing everything and the music industry will once again be on the forefront of this shift.
Hypebot: Since this is ultimately all about music, what were your top musical moment(s) of 2010?
Panos Panay: Seeing Muse do a surprise show at SXSW; NARAS getting “indie" music (though I want to abolish that word); The Beatles going on iTunes finally seals the argument about digital music; Arcade Fire's “The Suburbs" is a great album; the release of the iPad (yes, the iPad) providing a brand new channel for music to be consumed and experienced.
