Earlier this year Tom Silverman of Tommy Boy Entertainment presented a popular plan titled Building The $100 Billion Dollar Music Business. Silverman laid out a compelling perspective about how the music industry could exploit existing bright spots: music synch licensing, increased ad venue and the booming subscription services. The later focused more on the potential growth within the smart phone and automotive industries. In addition to Silverman’s plan, people in the industry salivated at the potential expansion Len Blavatnik’s investment into Beats Electronic may bring to the marketplace. Others discuss growing the industry by creating film documentaries to create resurgence in old catalogues, or maybe by focusing on movie soundtracks following the chart success of Pitch Perfect, Les Misérables, etc. All are good plans but what can the industry do right now? We need immediately growth, not predictions rooted in circumstance and market trends. I would like to propose an alternative growth plan, one based on existing law, the global market and a turnkey approach that can increase music industry profits by 30%immediately. Can this be done? Certainly, but it takes utilizing options from another hemorrhaging industry do achieve it.
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