The MIA organised ‘The Future of Our Industry’ event last week was a great day of debating and learning more about the issues that we collectively face. We were delighted with the varied attendees from all across the UK’s Musical Instrument Industry. Here’s some of the highlights from the day:
Our panels made up of relevant experts discussed issues from diversifying our workforces and customers and running a profitable music business, to utilising bricks and mortar stores and government support for the high street.
We heard from lawyers, business rate specialists, SaveTheHighStreet.org, industry consultants, influencers (these two attended generated considerable debate!) and a mix of retailers, distributors and publishers.
Thank you to all of our partners and sponsors, and to everyone who attended. We look forward to putting on another industry forum next year. If you have any suggestions or feedback, please contact email@example.com
Here are some of the most poignant points raised by both our panellists and audience members. These comments particularly reflect how the industry was keen to look to the future and discuss the ways that our businesses can keep up with the next generation of buyers:
“There are vast opportunities to reach a wider and more diverse audience. However, diversity doesn’t happen naturally, we have to change the way we communicate. Our audience can so easily be a mirror of ourselves. We don’t want that”
“You have to approach all customers with an open heart and build trust. You have to be trustable”.
“65% of young people joining the music industry today are women. Is this reflected in the music retail sector? If not, why not?”
“We’ve commoditised our industry – and music is NOT a product”
“The average attention span of Generation Z is 8 seconds – that’s how long you’ve got to capture their attention”
“83% of millennials are more interested and likely to buy from a brand with a diverse and inclusive culture”
“People do not buy WHAT you do; the buy WHY you do it”
“Retail isn’t dead – but boring retail certainly is!”
“The things that really connect with people and create conversations are matters such as encouraging women into music, or mental health and music. The future really cares about these matters… So why don’t you?”