The music industry is “clearly being swept away by a tide of electronic revolution,” says Rinaldo Brutoco, an expert on emerging technologies who has created the “new economic model” for the business.
Brutoco’s Fame Wizard is set to revolutionize the music industry by touching on “the entrepreneurial zeal that every musician has for their own music,” he said during an exclusive interview with Newsmax.TV.
Brutoco, who has served on the board of Men’s Wearhouse for 18 years and was co-founder and CEO of Chanel 100, the first pay cable TV operation in the United States, explains that the revolution occurring in the music business “has destroyed virtually all of the material institutions that have created this industry.
Story continues below video.
“If you remember the Napster case about 12 years ago, Napster was the first time that we had the issue of file sharing come up,” says Brutoco, referring to the ability of users to download published content from other users illegally. “Now the recorded music industry took the position that they would sue Napster out of business based on copyright infringements . . . You can only sue for so long, and then you have to come up with a different economic model, and the industry was unable to find one.
“I’m really pleased to report that a new economic model does exist now . . . [that] creates power in the individual artist,” he said.
Brutoco’s “economic model,” Fame Wizard, “touches on the entrepreneurial zeal that every musician has for their own music . . . I’ve been teaching business for almost four decades now. And teaching how to be successful as an entrepreneur, I had to create ways for the entrepreneur called a musician to become the CEO of their own music business, and it turns out when they do that, the whole world changes.”
For Brutoco, fighting against illegal file sharing is not the answer: “The antidote to file sharing as the enemy is to embrace file sharing and make it your friend . . . Let’s take an artist that’s made it a friend.
“Probably the most talented, multi-capacitied artist today is Lady Gaga. A very bright woman, incredible self-promoter, has talent, works hard, and if you notice, she’s not worried about the fact that all of her songs could be stolen for free, but none of her ‘little monsters’ ever want to, because the little monsters see her as their leader. In other words, she has created a virtual music village.
The solution for aspiring musicians is “what’s happened since human beings have walked the earth,” Brutoco says. “Every village has always supported its artists . . . What I’m training people to do in Fame Wizard . . . is to create a musical village that supports you as an artist, as their unique artist, expressing their hopes and fears, loves and interests.”
When asked how a talented musician who’s just starting out can make it in the music business, Brutoco explains: “Talent is not enough, and I’m not sure that it ever was.
“What you need to do is become passionate about the business of the music business. If you just want to play your music because you love to play it, you’re a hobbyist. That’s OK, that’s wonderful . . . But at the end of the day, you better have a day job because you’re never going to make money in the music business. No lightning is going to strike.”
© 2013 Newsmax. All rights reserved.