Warner Music Group CEO Edgar Bronfman Jr. is again singing the praises of the net and digital music claiming digital growth has outperformed expectations.
With words designed to be music to Wall Street's ears Bronfman told the Goldman Sachs Communacopia Conference, "Physical has been a little bit weaker than expected, but digital has grown faster" than WMG had predicted. He sited the future of ringtones, SMS tones and a new deal with YouTube. "Music creates a passionate relationship with users, and we (the music industry) have never monetized that with ads. Shame on us!" said Bronfman.
Is Bronfman referring to ad supported download services like SpiralFrog and QTrax? Or perhaps he means community and viral sites like MySpace and YouTube? Does the WMG head have something else in mind, or is it just the same kind of vague "ad-supported" promises that many Web 2.0 companies give to investors when they lack a solid business plan?
Listen to a replay of Bronfman's entire presentation here.
