We’re fortunate to have industry leaders like Ministry of Sound CEO Lohan Presencer who are not afraid to take on The Man 2.0. Whether it’s suing Spotify for ripping off MOS playlists or explaining to streamers just how weak they really are.
The always insightful MusicAlly has a must-read report of Lohan’s appearance at the Mobile World Congress, another conference with a ridiculous name. (Can you imagine the “United Nations SXSW” or “Lollapaholierthanthou”?) You can find it here: What happened when Ministry of Sound CEO shared a stage with Deezer and Rdio by Stuart Dredge.
If you’re tired of the venture-backed Babbitts of our business who constantly boost the streaming bubble, you’ll find Lohan’s down to earth analysis compelling. Given that I see a few of them have found their way onto SXSW panels to bring their snake oil, MusicAlly’s post is timely.
Lohan nailed it in this quotation:
“Your objective is to grow your user base, to tell a story such that you can IPO or you can sell, and you can exit, and you can put money back in the pockets of your investors. You are not the ones who are investing in developing talent. You are not the ones who are signing artists. And our artists and investment – our creative community – is contracting daily, as a result of the free services that are out there and giving music away, with the objective of you achieving some sort of exit at the end.”
After some of the ridiculous statements from Pandora at yesterday’s U.S. Senate Antitrust Subcommittee hearing, it is quite restorative to see truth being spoken by a record man.