Teosto published a report on data-driven innovation in the music industry
A Symphony, Not a Solo: How Collective Management Organisations Can Embrace Innovation and Drive Data Sharing in the Music Industry -report is the public part of a year-long collaboration of Teosto, The Lisbon Council and ESADE Business School, intended to stimulate discussion among key players in the music industry with the aim of accelerating data-driven innovation in music. The report approaches the phenomenon from the perspective of Collective Management Organisations (CMOs.)
The paper is divided in three sections. Part I will look at the current positioning of CMOs in this new data-intensive ecosystem. Part II will discuss how greater data sharing and reuse can maximize innovation, comparing the music industries with other industries. Part III will make policy and business-model reform recommendations for CMOs to stimulate data driven innovation, internally and in the industry as a whole.
Download the report in PDF.
Teosto is a non-profit organisation founded in 1928 by composers and music publishers to administer and protect their rights. The group represents more than 33,000 Finnish and almost three million foreign composers, lyricists, arrangers and music publishers. Teosto collects and distributes royalties to the music authors it represents, for the public performance and mechanical reproduction of their music in Finland. Its website is www.teosto.fi.
About ESADE Business School
ESADE Business School is a global academic institution known for the quality of its education, its international outlook and its clear focus on holistic personal development. With strong ties to the business world, ESADE stands out for its innovation and contribution to social transformation. ESADE’s greatest asset is its people: faculty, professionals, and more than 60,000 alumni all over the world. Its website is www.esade.edu.
About the Lisbon Council Research
Lisbon Council Research is the scientific, academic arm of the Lisbon Council for Economic Competitiveness and Social Renewal asbl, a Brussels-based non-profit association committed to making Europe “the most competitive and dynamic knowledge-based economy in the world capable of sustainable economic growth with more and better jobs and greater social cohesion,” as European leaders vowed to do in Lisbon, Portugal at a landmark 2000 summit. Lisbon Council Research conducts on-going research into Europe’s economic and social challenges. Its website is www.lisboncouncil.net.