Big 4 Major Record Labels Looking for Digital Entrepreneurs – £200,000 Prize

With a distinct whiff of ‘it’s about time!’ Four of the major music labels have announced that they’re supporting The Digital Innovation Contest. This sort of follows on from Sony and Universal’s On Air – On Sale move.

The IC Tomorrow competition, which is open to ideas for music, TV, film, and publishing, encourages digital entrepreneurs to join a new £200,000 scheme aimed at helping to bring innovative UK applications and services to market.

Leanne Sharman, VP of Commercial Development for Warner Music Europe, said: “Warner Music is committed to enabling digital partners which offer fans innovative, easy to use and exciting music experiences that properly compensate artists and content owners.”

Now, to me, this sounds like what the music industry has been searching for ever since they were caught with their trousers round their ankles when the downloading revolution hit them.

EMI Music, Sony Music, Universal Music and Warner Music will be amongst the judges and 20 winners will be selected. Each winner will receive an equal share of the £200,000 prize money to start implementing consumer trials of their ideas. BOSH!

The IC Tomorrow test bed also enables these clever entrepreneurs to try out hardware and software on consumers.

Will the music industry actually listen, take notice and use the ideas? Well, we’ll all have to wait and see I guess.

What do you reckon?

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