Nashville is a hip and happening place for both tech and music. The historic seat of country music in the US, it’s also home to a thriving indie music scene, and altogether the music industry brings $10 billion to the city every year. The Nashville Entrepreneur Center is a tech accelerator for music ventures, backed by some of the biggest industry names. Last year, it backed seven startups that brought tech and music together. The convergence of these two industries, not just in Nashville, is creating exciting new opportunities for entrepreneurs and artists to collaborate. Both musicians and entrepreneurs know how much competition there is, and how hard it can be to stand out. Here are some ways that music and tech can help grow a startup, based off an article I found on entrepreneur.com:
Get in millennials’ heads: New tech is allowing fans to interact with musicians in more tangible ways, which opens the door for all sorts of opportunities. Success with millennials means adapting to generational shifts in how they consume, listen and engage with music. Find a publisher with a music library suitable to your needs and incorporate the right music into your marketing. When younger fans see you supporting their favorite artists, they’ll recognize that your startup shares their values, helping them to form an instant emotional connection.
Exploit tech: Artists and entrepreneurs who straddle music and tech have been capitalizing on a chance to help support more successful digital music partnerships. Take, for example, SKIO Music founded by DJ Swivel, which helps artists and labels use digital technology to make licensing transparent. This makes it easy for artists to engage in direct licensing deals, receive secure payments and access collaboration tools.
Promote influential artists: Millennials’ playlists are the best way to use new music to market your startup. According to several surveys, 80 percent of millennials have said that live music events are the best way for brands to interact with them. Take, for example, big-name luxury brands like Burberry that are turning themselves into concert venues. These arrangements create a mutually beneficial relationship for both artists and startups, earning the former exposure and the latter a powerful promotional tool.