An “Understated” Report From NARM

Guest Post from Scott Cave of Red Velvet: The tone at this year’s NARM conference is understated when compared to last year’s 50th anniversary gathering, yet another indicator of the depressed economy. While decreased sponsorship dollars may have put a damper on the amenities and glitz of the event, the quality of the content and opportunity to establish new relationships remains as valuable as ever.

At the half-way marker for the conference, I’ve already generated a significant number of leads for my services. I’ve also learned a great deal from sessions like A2IM’s standing-room-only Music Business Crash Course and On Site Research’s unique case studies that took an intimate look into the lives of real people and how they’re being affected by our world’s rapidly changing technologies.

The most important difference that I’ve observed this time around is found in the general tone …

of what’s being said. Questions and conversations in the crowd at past events exposed a dependency by labels and artists on what other people, like aggregators and discovery services, were doing in the hope that a savior might be found. This week’s assembly are getting back to basics and taking the role of hero upon themselves.

Rich Bengloff, President of A2IM, hosted a well received panel of Indie veterans that hinted at a much more sober “new music business model” in the form of sage advice that could have come from any seasoned business person:

The commentary was well received by audience members like Dennis Blount, President of Hush Entertainment. “This conference has reminded me of the importance of establishing good partnerships and being aware of every aspect of my business.” stated Blount during a brief interview over a boxed lunch provided during the crash course. Other takeaways from the conference were a heightened awareness of the need to register both labels and artists with organizations like Sound Exchange to ensure rights holders are cashing in on revenue that is being collected on their behalf and the importance of strategic touring.

So while technology has been extremely disruptive and dethroned much of the old guard, the dust is showing signs of settling. If the back to basics attitude at this year’s NARM is any indication of what’s to come, I’m anticipating less development in the discovery space, continued growth in indie market share and a great opportunity for any business that can provide a service that will help the front line labels run a tighter ship.

Scott Cave is the CEO of Red Velvet, a service company whose mission it is to make the websites of independent labels and distributors the most profitable source of revenue in their business.