As a luminary of the music business who foresaw the digital revolution earlier than many, I am avidly following the Grammys' evolution into "Three Screen Integration" (the user experience of TV, Mobile and Computer, often simultaneously) and Social Television.
Mashable, quoting Freebase.com, said the following about Social TV:
Social Television is a general term for technology that supports communication and social interaction in either the context of watching television, or related to TV content. It also includes the study of television-related social behavior, devices and networks. Social television systems can for example integrate voice communication, text chat, presence and context awareness, TV recommendations, ratings, or video-conferencing with the TV content either directly on the screen or by using ancillary devices. Social television is very active area of research and development that is also generating new services as TV operators and content producers are looking for new sources of revenue.
NARAS (The Recoring Academy which produces the Grammys) are to be commended for recognizing the necessity to adapt, and for endeavoring to try. However, to borrow and play on a well-known political exhortation: "It's about the monetizing, Dummy!" It is indeed very exciting to see the Grammy's embracing social media, but the real challenge is how to bring monetization to their artist constituency. There is clearly a large, diverse online demographic receptive to participatory business models which will also benefit creators of intellectual property. It is a fortuitous time to expedite these concepts. After all, the implosion of the music industry's traditional business model continues to leave many artists (and companies) in a quandary about how to replace their vanishing income streams.
To our thinking, the answer seems to be hiding in plain sight for most of the industry. There are some compelling concepts which utilize an array of social media very strategically to provide consumers the interaction they require as their prerequisite for a purchase. These concepts then encourage sharing of recommendations and satisfaction with buying decisions.
The potential of social media for music artists transcend the obvious and ultimately replace the need for separate marketing, publicity and sales forces. Join us as we roll out our important start-up and be part of the traction that it will quickly gain.
For more information and to contact Stephen C. Love, Futurist and Social Media Evangelist: