The opportunities for integration are more numerous than ever, but it behooves the music industry to do its homework before jumping in.
, the power of gaming finally hit home in the music industry — and executives and artists began scrambling to capitalize on it.Given the stark contrasts between the two industries, that’s easier said than done. The gaming business thrives on low friction, low barriers to entry, free access, high engagement and small, incremental micro revenue streams, derived from broad global distribution to gamers around the globe.
Historically, these differences caused a gap between the two industries. Many viable music-centric games died on the vine or floundered endlessly in the licensing process, resulting in years of lost opportunities. Gaming studios hired composers to create original compositions rather than stumble through the morass of music rights or risk giving up too big a share of revenues.
Vickie Nauman is founder and CEO of the Los Angeles-based boutique music tech consulting and advisory firm CrossBorderWorks, where she has been working with a portfolio of gaming companies, Web3 projects, streaming platforms, apps, hardware, start-ups and industry consortiums since 2014. Her experience in digital music includes MusicNet , KEXP, 7digital and Sonos.
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