Manage innovation as a portofolio of options

"Recognize that investments in digital strategy innovations, while necessary for the future of your business, are high risk and have a large amount of uncertainty." (sources)

The Majors work methods

It’s important to have a global reflexion on how to manage innovation as a portofolio of options.

The best exemple I could talk about is the music industry:

      Modification of how you discover music groups and songs, and how you are a consuming it have an impact on the Majors work methods. The development of the musical offer versus the decrease of the Majors’ incomes and the decreasing number of  groups that are affiliated to a Major helps Music industry to manage innovation.

This reflexion allows you to think about the aptness of the development of the independent e-labels or Majors, about their way they are organized, tools of marketing and communication they use, and models business they have created...

What about the artists ?

Artists that are not already known could be the real winner of the digital (r)evolution and  communications strategy if they use digital and numeric applications as myspace (social net), you tube (content provider), …. And by being aware that new labels that are creating and entirely dedicated to the web developpement are the key of the music sector.  . 

To highlight this demonstration, just take a look at some artists’ myspace pages  We are currently working on how to sell disk of what we is called ‘ New Talent’ using only the internet and new technologies : this is the consulting mission that has been given to us by a famous Major.  

This firm is a worldwide one which is specialised  both in entertainement, TV, Music,…. a lot of fields in fact. The business model is not based on a core business but on various subsidiaries (Television, Movies...) : this is the key of success and the strong point of this enterprise that allows them to avoid sector crisis and at least create opportunies for innovation.

In the USA, the best exemple of that new way of managing innovation is Cordless Recording, and in France Believe.fr

Tags : Manage  innovation  portofolio  options  music  communication  business