Tim Westergren, chief strategy officer and founder of Pandora, was the keynote speaker at the Digital Music Forum West this morning. We interviewed Tim about a year and a half ago and at that time Pandora faced some real challnges.
In his keynote, Tim updated the audience on the current state of Pandora and his thoughts on the future of digital media.
Tim started his speech by observing the how the when you book a flight on Expedia you get a slew of other offers for hotels, cars, shows and even pedicures. He stated that their might be a lot of lessons for the music industry that can be learned from the travel industry.
The focus of his talk was “From Competition to Interdependence”. He observed that in the arduous discussions of royalties and the subsequent compromise everyone had to give to make it work for everyone.
At the Digital Music Forum West event, a panel focused on the future of internet radio.
Dave Conway, Founder, Little Radio
Johnie Floater, General Manager, Media, Live365
Kurt Hanson, Publisher, RAIN / CEO, AccuRadio
Jim Rondinelli, SVP of Strategic Development, Slacker
Moderator: David Oxenford, Partner, Davis, Wright, Tremaine LLP
Why is Internet Radio relevant?
Kurt Hanson, of RAIN, points out that radio is how the average music fan finds music.
Johnie Floater, from Live365, the most important aspect of internet radio is bandwidth to support huge diversity of content. Even the classical music of the Canary Islands can have its own channel on the internet, something which is not possible on terrestrial or satellite radio.
Jim Rondeinelli, of Slacker, points out that most people don’t want to program their own music flow and radio provides that programming.
How do you make money on a radio focused on a micro segment?