The UCLA Speaker Series event on May 26th was hosted by Bruin Entrepreneurs (BE) and co-hosted by UCLA VC Fund with Kiel Berry, Brad Delson and Lorenzo Errico representing Machine Shop.
The main purpose of this lecture was to present Machine Shop, explaining how they add value to its clients and how they interpret the music market. The brand new Machine Shop Ventures takes an important part in this “weekly night”.
Looking at the music business there are a few things to be clear about: album sales are down and there’s a huge need to adapt to survive. The intersection with pop culture and technology industry might be an answer.
Some projects were presented to the audience in this “weekly night”. The introduction is clear about the importance of managing partnerships and staying loyal to the values of the brand (band / artists). Putting skin in the game too and emphasizing the team’s role make it balanced for both parts. That’s how they see their partnerships – not only in investing money, Kiel Berry explained. Each artist or band needs to be treated as a startup.
Some examples were presented: Beyoncé, Jared Leto, Jay-Z, Tyler the Creator, Music For Relief, Mike Shinoda’s involvement with Spotify even before they entered in the USA.
Watch the whole session below:
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