06.25.20 | Timestamp @1:13 | The Practical Work-Life Balance You Need to Implement Now
Tommy’s Question or Topic
Tommy is from Los Angeles. He asks Gary about what he thinks the future of the music industry will be with the success of mobile apps like TikTok and if Gary thinks that TikTok will become a record label in the future.
Gary’s Story and Advices
TikTok could be a future record label, but he doesn’t think it will because of the app design, which is more like an MTV 1985. And with the existence of SoundCloud and Spotify, one doesn’t need a label to get exposure. It’s a content and distribution game.
The record labels had all the leverage for so long because a person couldn’t get his music to the world unless he was signed, had a CD or a record, was put in Sam Goody, or a Virgin Store and then got promoted on TRL (Total Request Live). Nowadays, both Gary and Tommy can go into a studio at 4 am, record a music and link it to SoundCloud, it gets going and they start a bean culture. The game gets completely flipped.
If Gary were an artist, he would build as big as he could, have all the leverage and then record labels will have to evolve by showing value. They can’t just do the distribution. They have to be able to build the artist.
Gary Vaynerchuk’s Quotes
“If I’m an artist, I build as big as I can and have all leverage.” ~ Gary Vaynerchuk
“Eventually, the only thing that’s gonna matter is that somebody can actually get you more awareness because everything else is a commodity.” ~ Gary Vaynerchuk
“Record labels have forever changed, and they now have to bring value differently.” ~ Gary Vaynerchuk