Josh Rabinowitz, Director of music at Grey Worldwide has written an informative article on Brandweek on how to better navigate and utilize the new music world. According to him, with Major brands spending on average less than 5% of their marketing budgets on music this lack of attention can hurt the quality and effectiveness of advertising.
“Music, like so much of the content utilized in advertising and branding, is becoming devalued. There are many reasons, perhaps the biggest being that more and more advertising executives have been bred to work in the Internet/digital world as opposed to analog/tape. Also, many musicians, artists, producers and engineers from the troubled recording industry have migrated to advertising, creating more supply than demand. Add to this the recession and the concept of getting music for close to nothing and at the 11th hour — “You know, just find something like this” — has become an epidemic.”
Fast Media Magazine will shortly feature a number of articles with people working in the music licensing industry.