By Hans Ebert
There was a time not really that long ago though time often flies on unexpected wings at a worldwide music conference in Munich when us executives listened to a panel of young Facebook execs explain how we could use the social media platform- very new at the time- to sell more music. To work closer with music fans. Introduce new music much more cost effectively. And with more pinpoint accuracy. How MySpace was finished. But never ever thinking that this thing called “social media” would get off the ground, we never listened.
Ignorance and arrogance came into play and most of us saw their presentation as a break to grab some chocolate muffins and chat up one of the Facebookers.
We -the music industry- had successfully sued illegal file sharing site Napster and co founders Sean Parker and Shawn Fanning and believed that nothing was going to change our world. The six star lifestyle was going to continue. So much for that dream.