A Quote by Steve Stoute
There's much more money being brought into the advertising and communications business than in the music industry.
Quote Topics
Quote Author
Related Quotes
I initially wanted to work in the music industry more on the A&R side. While I was in school, I began working in the New Business department of an advertising firm, and very quickly I was responsible for roughly 70% of their business, so you could say I had a natural knack for the advertising world.
The entertainment industry, the advertising industry have taken [the] tools from the art world and made themselves much more politically potent. We are really devastated and very impotent right now. A photographer just working for an advertising company has a platform to be much more politically effective in the world than an artist.
Advertising is much less powerful than advertisers and critics of advertising claim, and advertising agencies are stabbing in the dark much more than they are practicing precision microsurgery on the public consciousness.
The ad industry isn't struggling for a new set of principles or abandoning the ones that made it great from the start. It's simply in the midst of a business cycle. I don't think it's more profound than that. And despite the economic downturn, I'm having more fun today than at any other moment in my 30-year advertising career. The game is more interesting and more relevant than ever.
We knew when we started the Daily Muse, we wanted a recruiting-focused business model rather than an advertising-focused one. We felt like publishers were being forced to go to more and more extreme lengths to monetize through advertising.
I've started to believe that the agency business is a great ingredient of a much bigger business - more than just what typical advertising agencies have done.
I don't know if there was really ever a golden age of the music business. Most of what was released has always been garbage and some has been able to get through and last. I don't know that it was much better thirty years ago. The music industry just wasn't as efficient. The music industry was more oddball guys who did it for fun and now they are huge corporations that have become more structured.
There is a great deal of advertising that is much better than the product. When that happens, all that the good advertising will do is put you out of business faster.
For any company whose business model is advertising, or engagement-based advertising, meaning they care about the amount of time someone spends on the product, they make more money the more time people spend.
I believe my business and non-profit investments are much more beneficial to societal well-being than sending more money to Washington.
It's interesting that the book publishing industry, on the iPad, has much more flexibility than the music industry had.
Advertising holding companies used to boast about their share of the advertising market. Now they are proud of how much of their business is not in advertising.
There just is exponentially more money in the movie business than in the music business. As a result there are more people involved in the creative process.
About 1990 there was a huge shakeup in the music industry and the 6 major record companies fired all the music people and hired business graduates to take over the spots. So the music became not as important. What really became important was the bottom line, how much money you could make.
The old model of the industry was founded largely upon business folk trying to make money off artists. At EMP, we let the music make the money, not the other way around. We have flipped the model to make the artistry be at the forefront of everything we do. Music makes the business and that's what makes it work.
Being first is more important to me [than earning money]. I have so much money. Whatever money is, it's just a method of keeping score now. I mean, I certainly don't need more money.
Related Authors
Bill Gates Quotes
American
Businessman
Charlie Munger Quotes
American
Businessman
Dieter F. Uchtdorf Quotes
German
Businessman
Henry Ford Quotes
American
Businessman
Jim Rohn Quotes
American
Businessman
Joseph B. Wirthlin Quotes
American
Businessman
Mark Cuban Quotes
American
Businessman
Mark Zuckerberg Quotes
American
Businessman
Peter Drucker Quotes
American
Businessman
Richard Branson Quotes
British
Businessman
Russell Simmons Quotes
American
Businessman
Sam Altman Quotes
American
Businessman
Steve Jobs Quotes
American
Businessman
Tom Peters Quotes
American
Businessman
Walt Disney Quotes
American
Businessman
Warren Buffett Quotes
American
Businessman