Where Have All The Sponsors Gone?
And more big questions from Bull City Summit
Back in September, The Cadence was invited down to Durham, North Carolina to take part in the first full edition of the Bull City Summit — a five-day gathering of experts in music, tech and culture that saw guests from as far as LA and Iceland mingle with the many local movers and shakers who make up The Triangle’s (Raleigh, Durham, Chapell Hill) creative class.
While there, we got to chat onstage with two of NC’s most outstanding sons — Rick French (CEO of French West Vaughan) and Fred McIntyre (Managing Director of Capacitance) — in a conversation that focused largely on the shifting state of brand sponsorships, the diminished dollars floating around the entertainment ecosystem, the high-risk-high-reward game of artists partnerships and the ability of AI to communicate core brand values.
The video just dropped and you can watch the full conversation:
While in Durham, we also heard from Recording Academy CEO Harvey Mason Jr., were treated to an intimate DJ set by the always inimitable Z-Trip (who also spoke onstage with Tommie Sunshine) and sampled some of the outstanding local delicacies, including legal THC drinks sold in corner stores and bars (How is North Carolina ahead of California in this!?) and one of the finest desserts we’ve ever tasted (seriously).
Check out the complete Bull City Summit recap here. And stand by for the first announcement for the 2024 edition coming in the new year.
TAKEAWAYS
Salient statements from this week’s music news.
1. Sony Music Says Platforms Are Using Loopholes to ‘Drag Their Feet’ on Nearly 10,000 Deepfake Takedown Requests
At a Senate forum on artificial intelligence, executive Dennis Kooker called for a federal right of publicity and ways to give musicians "consent, credit and compensation" for the use of their work.
Takeaway: A celebrity’s voice and likeness can be protected by “right of publicity” laws that safeguard it from unauthorized exploitation, but this right is limited. Its protections vary state-to-state and are even more limited post-mortem.
2. Live Nation and Ticketmaster Subpoenaed in Senate Probe Over ‘Exorbitant Ticket Prices’
The subpoena comes after months of investigation into the company’s practices in the wake of controversies surrounding ticket sales for Taylor Swift and Bruce Springsteen concert tours.
Takeaway: Live Nation’s Rapino has denied that Ticketmaster is a monopoly, arguing that if it were, it would have larger profit margins. “You wouldn’t find a monopoly in history that has a 10%, 11% margin,” Rapino said.
3. Have Labels Hit a Breaking Point With Data-Driven A&R?
Analytics can predict hit singles, but skeptics say it's far less effective at identifying enduring artists.
Takeaway: Arguing about the state of A&R is also arguing about the extent to which record companies can still provide artists with additional creative value. In theory, basing signing strategy on data helps labels unearth acts who are already exhibiting upward momentum and thus reduces the companies’ risk.
