kalm, nieuwsgierig, vastbesloten
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infographic:
“We’re so Big, we don’t have time for that. We’ll fix it some day.” Or: stuck in a system that obviously no longer works and is costing everybody a lot of money…
The four major record labels that comprise the Canadian Recording Industry Association – EMI Music Canada Inc., Sony Music Entertainment Canada Inc., Universal Music Canada Inc. and Warner Music Canada Co. – have agreed to pay $45 million to settle one of the largest copyright class action lawsuits in Canadian history.
As part of the settlement, the labels will pay approximately $45 million to settle the copyright infringement claims. It also establishes a new mechanism to help ensure that artists are paid more promptly.
The press release indicates that everyone is pleased with the settlement, though it is striking that it took a class action settlement to get the record labels to address their own ongoing copyright infringing practices in paying artists for the use of their works. (via Michael Geist)
True that!
Lesson 1: The product rules!
What you do (your product) is what drives engagement on social channels, it’s not the other way around. Social media can maximize the effect, but it is like the icing on the cake. The icing can make all the difference, but without the cake, it is just puddle of goo.
Lesson 2: Purpose!
Apple’s purpose is to give you the best they make, and they often turn down business opportunities that would provide them with a short term boost in profit. Steve Jobs doesn’t care about what the shareholders want (just read this), the focus is entirely on the purpose of Apple.
Lesson 3: Consistency!
The reason why Apple can get away with this, is because they have proven themselves over a very long period of time. They have consistently demonstrated they can exceed our expectations, that their products really work, and that the build quality is top of the line.
Focus on your product, your purpose, and a consistent level of value. Social media can then extend that experience. It cannot build it.