Roger McNamee Tells NARM Audience Good Times Are Ahead
May 13, 2011 at 4:00 AM (PT)
ELEVATION PARTNERS Chief ROGER MCNAMEE had some good news for those thinking about investing in the music industry, when he told THE LOS ANGELES TIMES, "We're going to get another chance to change the rules," when commenting on a positive future for investors in the music business.
MCNAMEE addressed the NATIONAL ASSN. OF RECORDING MERCHANDISERS' annual conference in LOS ANGELES last night (5/12), and noted that "the music business is headed for an 'Arab Spring,' referring to the grassroots uprisings in EGYPT, LIBYA and other MIDDLE EASTERN countries this year," wrote THE TIMES.
We're in the midst of a new dawn when we're going to get another chance to change the rules in the music business.
"It's actually a really good time to look for things to invest in," said MCNAMEE. "We're in the midst of a new dawn when we're going to get another chance to change the rules in the music business. For the first time in 16 years, you can look forward to a world that's very exciting. And everything that's exciting about it is going to be favorable to those who create content."
It will be a different world, however. MCNAMEE told THE TIMES, "If you're asking me when you can start selling $18 albums again, I can't help you. Where the venture guys like me will matter a ton is in supporting the infrastructure. Think AMAZON's EC2 cloud service. The venture guys will aim at the infrastructure. The creative stuff will come from the people, broadly defined."