Three 'OGs' from the Latin music industry gathered on Monday (October 14) at 2024 Billboard Latin Music Weekwhere they discussed the challenges they face today from a recording, management and live entertainment perspective.
During the “Power Players: The OGs” panel — moderated Bulletin board'small Leila Cobo — Alex Gallardopresident of Sony Music Latin; Alex MizrahiCEO of OCESA Seitrack. and Nelson AlbaredaCEO of Loud And Live, agreed that while today's music offerings are more diverse and democratic than ever, all areas of the business face significant challenges for this very reason.
From standing out and conquering the market, to the importance of building a career one step at a time, here are some of the best quotes from these Latin Music Power Players.
Gallardo: “From a label perspective, something we find very interesting now is the variety of genres that are working, that are emerging. Three years ago, there was a dominant genre that was more urban. now we see cumbia, salsa, argentine music, local mexican, and I find it very interesting and a great opportunity. [But] now it is more difficult for an artist to conquer all of Latin America because, for this very reason, it is becoming more local. Making that regional conquest is a bit more complicated.”
Mizrahi: “I would add that, from a recording standpoint, it's easier to create success today than ever before because the platforms are more democratic than ever. The artist's access to fans is immediate. From the live music management side, the biggest challenge is getting the artists to match their repertoire, create enough hits to make their fans want to buy a ticket. Today I feel like there are more successful artists than ever and I don't see many artists selling tickets. For me, that's the biggest gap between recorded music and live concerts.”
Albareda: “From the live view […] ticket sales are not what they used to be. You have 20 markets and now not all of them sell, especially this year. Before the Covid pandemic, artists didn't have to work hard, they posted something and sold it. Even the price, if we were selling a ticket at 110-120 dollars, now it is at 80 dollars. I would say that we have to work even a little bit more than before the pandemic.”
Gallardo: “Twenty years ago, for an artist to get access to a studio there were a number of filters, a label would have to be interested, etc. Now is a beautiful time where every child at home can create […] This means that there are more potential artists, but the supply is also much larger. The latest figures I've been told are 120,000 songs a day. When there's so much on offer, what do audiences stick with? This is our job.”
Abareda: “There are so many artists, how can we give them a chance to play live? There is also a saturation of the live show. The streams themselves don't hurt you because you're already paying for a subscription to a platform, but when you have to pay for a ticket…”
Mirzrahi: “When people leave their house (to go to a show), they don't go alone. they have to pay for parking, they go to eat something. The live concert is an experience. We as management have to say, 'this artist has to have the power in the music, the personality, the reason to get you out of your house […] and I bring you into this world, into this experience. And you should walk away saying, “It was worth it.” What is our challenge? Building the experience with repertoire, with personality.”
Gallardo: “One thing that never goes out of style for an artist is to work your repertoire the best you can, make the best songs possible and raise the bar. There is more competition. How do I stand out? Raising the bar in my songwriting, and then once I have that song, seeing how I market it, how I tell people about it. Releasing a song is not something you can do overnight.”
Abareda: “We need to reset. Artists want to go out and sell out arenas, but you have to start small, grow and build an audience. If you want the money today, you are not building a career […] You have to build an audience, invest in a career and take the long road.”
Mizrahi: “The manager's role is sensitivity, he has to talk to his artist. The industry is being revolutionized from all sides. These big hits on Spotify and Youtube with millions of streams and views […] That's good news, but that's where 100,000 songs will be released every Friday, wow! Algorithms (increase ticket prices) … artists want more and you have to have the sensitivity to talk to the artist, explain things.”
For the past 35 years, Latin Music Week has become the one, steadfast foundation of Latin music in this country, being the most important—and largest—gathering of Latin artists and industry executives in the world. Originally named the Latin Music Seminar, sponsored by Billboard, the event dates back to 1990, where it began as a one-day event in Miami featuring a two-artist showcase and an awards show.
Latin Music Week coincides with the 2024 Billboard Latin Music Awards airing at 9 p.m. ET on Sunday, October 20, on Telemundo. It will be available simultaneously on Universo, Peacock and the Telemundo app and in Latin America and the Caribbean through Telemundo Internacional.
from our partners at https://www.billboard.com/music/latin/power-players-the-ogs-panel-recap-latin-music-week-2024-1235800481/