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[r/cofoundit] Notes from First Live Video AMA by Musioconomi team

Notes from First Live Video AMA by Musioconomi team Musioconomi

Recently Musiconomi did a live Video AMA with team with a special acoustic performance from The Motorleague! I wrote a summary of the discussion in Q&A format. Do note that I have rephrased the Q&A in my own words. If you feel there is a mistake or unclear just let me know. Also If you would like to check out the original video (Highly Recommended!) check out the link below:

Facebook Link to Q&A Session

If you would prefer a youtube link of the AMA instead — https://www.youtube.com/watch?v=GpCwePQFL7A

AMA Participants David Werba — Co-founder & CMO at MusiconomiBrian Byrne — Co-founder, Chief Musician AmbassadorElio Di Iorio — Co-founder, Chief Organizer and SpokespersonDon Levandier — Vocalist & Guitarist of The Motorleague band Q01 — How does this project benefit consumers? How does it benefit the artist? Why would anyone invest in MCI?

Elio — There is a lot of constraints in music economy in general. We’ve seen a lot of various models with the Internet. It introduced file sharing which was not there before the legacy model of listening via Tapes/CDs. The internet caused a lot of change and turmoil. Things aren’t working very well in the current state. This new change has badly affected the artists, consumers etc — the industry in general.

Music listeners/enthusiasts want to listen and support great music but they struggle to do so. Same goes for artists.

There is an opportunity for investors to bring a change and make money off of this opportunity, Where investors can bring their business ideas and experience to revive the industry.

Q02 — How will you deal with licensing and royalty that has been part of the industry for many years?

Brian — Instead of trying to get permission from them or get them to buy in, we’ll build whatever we are building because the focus is on the artist and investors who’ll drive this space. When we do a good ...

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