A report claims Warner Music has a new plan for its business – and it’s quite a practical viewpoint the company is reportedly adopting – it’s moving to become an international music marketing company.
To quote the Bangkok Post: “After struggling for several years, Warner Music Thailand has introduced a new business model to cope with the plummeting sales of its physical products, but the company describes the model as only the first step in finding a definitive response to its business challenges.
Managing director Nadda Buranasiri said the firm, an affiliate of the US-based Warner Music Group, was in the process of transforming from an international music distributor into “a music marketing company”.
What isn’t quite clear is whether the company plans to implement such a change on an international basis, but the move matches what I see as the future of music labels in this changed environment – creating multi-platform visibility for acts will be the central business for music.
That means everything from radio plugging to viral online video and iPhone apps development. Anything to make artists accessible to fans…the larger the audience, the bigger the sales, at least in theory.