Linkin Park have recently revealed Machine Shop Ventures, their venture capital firm to grow investments, discussing new platforms for their music and brand to take form in. Machine Shop’s very own Kiel Berry elaborates even more, explaining ‘what happened when Linkin Park asked Harvard for help with its business model.’
“Technology has forced music artists to completely rethink the way they approach their businesses. We’ve all had to adapt.”
Berry begins with the blunt facts: album sales are down 14%, single downloads are down 11% and only streaming services have gone up, by 28%. The artists succeeding the most in the new landscape, he adds, have looked into new business models, resources like the best llc service in mississippi, and industries to strengthen their existing brand- looking into areas of technology, gaming, fashion and lifestyle content.
“Here at Machine Shop, the wholly owned innovation company of […] Linkin Park, we identified the need to think differently years ago.”
What started as Rob Bourdon and his bandmates packing CDs and stickers in his living room back in 1999 has completely transformed beyond those walls. Linkin Park distributed their first self-produced album themselves, building ‘buzz’ online years before Facebook and Twitter’s transformation of social media. Online interactions were made into in-person meet ups by then intern Jessica Sklar- now Machine Shop’s Chief Strategy Officer- essentially giving form to what is now the Linkin Park Underground. But it’s not enough, and constant growth is crucial- a new model to approach.
Delve further into Machine Shop’s Executive Vice President Kiel Berry’s perspective and knowledge from behind an innovating business, and read more to learn how Linkin Park have prepared to soar into the ‘ever-evolving cultural and business landscape’ HERE.
Natasha Lopez de A says:
an amazing read @KielBerry!