Will Page, Author of Tarzan Economics, Fellow of London School of Economics and Royal Society of the Arts (Scotland)
Will Page is the author of ‘Tarzan Economics: Eight Principles in Pivoting through Disruption’. He was formerly Chief Economist of Spotify and PRS for Music, where he pioneered Rockonomics.
Music ecosystems. Why do they matter?
Much of my work puts wind in the sails of Center for Music Ecosystems' admirable focus on ecosystems and the work done by its partner, Sound Diplomacy. Back in 2009, I showed that live music had overtaken recorded for consumer spend in the UK – that right there is an ecosystem. People were stealing recorded music for free and spending more of their 'wallet share' on concert tickets. Today, I publish my annual global value of music copyright, now at $32.5bn, to show how the whole ecosystem hangs together.
What does the music-ecosystem future look like to you, post-pandemic?
We need to develop an appreciation of all the pillars that make up the music ecosystem, not just the one closest to our heads and hearts. We might think of music publishing in the conventional form, but we need to really appreciate the new entrants like Epidemic Sounds and what they're doing in the podcast space – where, remarkably, you still can't legally use conventional music due to licensing issues (again!). I also see a role for tech to solve problems that ecosystems create: the more complex the value chain the more simplification of revenue streams. The startup hi.fi is making giant steps in this space.
Name one other music-ecosystem builder that inspires you
I'm going to take a punt on The Rt Hon. the Lord Ed Vaizey of Didcot, and here's why. He served as Culture minister for this country for eight years and never really put a foot wrong. He was supportive of many initiatives and knew the value of 'Creative Britain' – we're one of only three exporters of music (the others being Sweden and the US), and we're net exporters of television and gaming as well. Music ecosystems, and creativity more generally, is something the UK excels at, and it really helps when you have a leader who has led in the past, and done it well.
What personal commitment can you make towards a world with better music ecosystems?
I was fortunate to work with (Center for Music Ecosystems founding partner) Sound Diplomacy on a website for the Swedish music industry titled Sustaining Sweden's Music Export Success. The work was really successful, explaining to the Swedish government just how special their music industry was and why it needs more attention during a pandemic. There's more to be done here, and I'd like to work with the Center for Music Ecosystems to explore 'playlists without borders' – and explain how music travels across borders like never before. What does it mean when there's more circulation of music than ever before – that's my personal commitment.