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Music management , music recondition , music ... music market what do you think about it ? - OnStartups Answers
Hello all in my endless brain storming ( with my self ) i was thinking about the music industry how is the music cataloging , or music recommendation or any other music niche it can be players or web sites or what ever does some knows about successful ways to monetizing such type of ideas ?
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You may want to brainstorm a bit more, and see if you can narrow down, or flesh out, your idea more, as it is a bit too broad for any real answer, as you have catalogs from websites such as Amazon, you have the Itunes catalog, and there are others out there.
How would you do something different from them?
For recommendations Pandora would probably be what you may want to offer beyond what it does.
There is also the fact that there are applications like the Iphone app where you just hold the phone up and it will tell you the song, but, it may be nice to have something like Pandora as an extension to the application, so you hear a song you haven't heard, you get not only the title but what style it is and similar songs or artists to what you were interested in.
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Music is a great thing, and people are willing to pay money for it.
The business models change every time a new technology comes out (live shows ->
Radio -> records ->
Tape -> CD ->
Napster -> iTunes ->
Pandora and many other technologies).
One of Pandora's competitors decided on another business model in which they sell their software to cellphone companies in order to sell ringtones to people that are likely to want them.
There are endless options in the music space, but it is extremely competitive, so it requires a lot of thought and planning.
I recommend that you read the long tail, as it shows yet another business model that works.
Read about judo strategy and also the book blue ocean strategy to get some more general business ideas, and see how to apply them to music or any other field you may choose.
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