SoundCloud and Why It Is a Popular New Trend

Well readers, this is my final blog as a Master of Science in Entertainment Business student at Full Sail University. But it surely isn’t my final blog altogether. This is just the end of one journey into the next one, so wish me luck! For this blog, I wanted to delve a little more into one of the newest trends going on in the music industry online and that is the growing expansion of the website SoundCloud.com.

SoundCloud is an audio online distribution platform where anyone can create, record, promote, share, and distribute their original sounds across the Internet. It is very simple to use, accessible, and full of features. In February of this year they had already reached three million users. I love this because a musician can just record a sound on the spot and can send it to their Facebook fan page in an instant through their mobile application. Your inspiration doesn’t have to wait to be released to the world!

I wanted to check this site out more because it seems like almost everyday someone is posting on my Facebook page a SoundCloud recording of theirs to listen to and they would ask for feedback, another plus of SoundCloud. Their platform was actually created so “audio creators” could collaborate and receive feedback from other creators and listeners. One of my favorite aspects that the site provides is that a user can customize the shapes of their sounds waveforms, adding to the unique visualization of their sounds and friends and fans can leave timed comments throughout their sounds for valuable feedback. That is very cool!

They offer over 100 plus applications and you can even build your own application. If you sign up as a premium member, you can get more storage space for your songs, a Spotlight tab to showcase your best songs, Pro Support, and more depending on which account you sign up for.  The website itself is easy to navigate and one can quickly find groups to create and share music with and even the nearest Meetup locations.

(soundcloud.com)

Being a recent college graduate definitely has helped prepared me to excel in understanding online distribution because I was personally given lessons on digital distribution, brand development, and digital marketing. From my college education, I understand the power and influence that sites such as SoundCloud have because it is a great promotional website that will allow artists at my company to distribute and get their music out to fans quickly and easily. Entertainment and media college students are taught how to reach mass success in this new technology driven world. I am fully aware of how to use social media sites, blogs, and online distribution sites to increase my fan base as well as my artists’ fan bases through widgets, applications, podcasts, embedded videos and links, and more, which are allowed to be placed on those sites and even our own websites. As a recent college grad and because of all the industry research I have done recently, I will bring current knowledge of the newest distribution, promotional, and marketing models and techniques in the music industry to whatever company I am a part of.

I will stay up-to-date on future trends in the music industry and will be here as a canny resource to help all of you reading do the same. SoundCloud is a great website to visit and please support those who are creating and sharing their sounds with all of us!

Resource:

http://soundcloud.com

What Are Alternative Funding Sources?

Hello my followers! I have finally reached the end of my school journey as I slowly approach graduation day. For this post, I wanted to spiel about alternative funding sources and some websites that provide these types of sources.

The first website I selected for this post is ncif.org, or the National Community Investment Fund. It is a non-profit, private equity trust that invests in thrifts, banks and credit unions that generate financial and social returns.  According to ncif.org, a Community Development Banking Institution (CDBI) is a name used by NCIF to “describe a depository with a community development focus.” They increase access to financial services to undeserved communities that wouldn’t otherwise have it. They go out and purchase common stock to these CDBI’s, make seed fund loans, extend debt to banks, and they provide secondary capital to low-income credit unions.

(ncif.org)

Some of the requirements and qualifications to obtain the financing from NCIF include that the CDBI must focus an abundant amount of its business on low-to-moderate income people or communities. It must be located in a rural, urban, or Native American market to qualify and they have to show sound, financial performance.  The website also says that NCIF has what is called the CDBI Exchange Network which allows CEO’s and CFO’s in the industry to help give advice on such things as risk management and valuation.  They also offer news and updates on NCIF.

The second website I visited is eda.gov, which stands for the U.S. Economic Development Administration. Their mission statement is: "To lead the federal economic development agenda by promoting innovation and competitiveness, preparing American regions for growth and success in the worldwide economy." Some of their financing opportunities include their Public Works and Economic Development Program and their Economic Adjustment Assistance Program (EAA). These give infrastructure assistance and help support construction and expansion of infrastructure in areas that have experienced adverse economic changes. EDA also offers technical assistance, a Community Trade Adjustment Assistance Program and more on the site.

Applicants must meet certain technical competitive merits and/or lack thereof to qualify for grants, meet quarterly funding deadlines and EDA’s priorities. Some of the requirements that an EDA-funded Comprehensive Economic Development Strategy (CED) includes having a planning organization, a strategy committee, performance measures, a list of goals and objectives, a plan of action, and beyond. The site also shows plenty of other federal funding links, tools of the trade, and research reports.

(eda.gov)

A few disadvantages of using alternative funding are high interest rates, having to offer collateral, factoring companies’ fees, and possibly giving up a substantial amount of ownership equity. One advantage is that they provide a boost in investments for women and minority-owned businesses. It can include peer-to-peer networking and asset-based lending along with government-backed loans. Microlending is beneficial for owners with little to no credit and who have no track record and provides a small amount of cash needed for them to start their small business. Community banks and credits unions are now issuing and taking on smaller business loans and these are all helping to relieve the strain on the economy. 

References:

(2011). Retrieved Sept 8 2011 from, http://www.ncif.org/index.php/about/

(2011). Retrieved Sept 8 2011 from, http://www.eda.gov/

(2011). Retrieved Sept 8 2011 from, http://smallbusiness.intuit.com/news/Expansion/growth-of-business/18887918/Alternative-Funding-Sources-for-Small-Businesses.jsp

(2011). Retrieved Sept 8 2011 from, http://online.wsj.com/article/SB124827141870672175.html