Hi everyone, the chat will start soon. Please feel free to post your questions for Saloni.

04:28 PM

Thanks Miti

04:30 PM

Saloni, in marketing we've learnt quite a bit about STP. For a music festival brand, I'm curious how you put this in practice. For instance, how do you segment your market? What parameters?

04:34 PM

As a brand planner, STP used to be my bread and butter. FMCG clients would measure and remeasure these matrices

04:36 PM

But when it comes to the music industry, you need to look at your product a bit differently

04:36 PM

For E.g - With Vh1 Supersonic, our natural starting point would be EDM enthusiasts.

04:37 PM

Hi Saloni, Thanks for doing this.

04:38 PM

But with music, it's important to keep in mind that half the junta who could be categorized in the English music/Dance music segment are also the ones who 'll start craving hardcore Bollywood after a few drinks :P

04:39 PM

What are the trends that excite you in music consumption especially in relation to Feativals and events

04:39 PM

Hi Ankit. When it comes to music festivals & events specifically - there are two important things I'd normally look at. The most important would be musical tastes and inclinations. So eg- when I started off with music, EDM was the flavor of the month, and our endeavor would be to bring tried and tested artists while balancing them with new sounds that our audience would like to explore. Now days EDM is giving way to more multi genre interests, so it's important to look outside the purview of only dance music

04:42 PM

The second important thing is the lifestyle around music festivals

04:43 PM

It's important to know how your audience goes about making plans to go to a festival. Logic says fans would want to book tickets in advance when prices are low - but the reality is making out of town plans to go to a music festival involves a lot of bargaining - with parents, with friends, taking leaves, managing a budget etc

04:44 PM

So it's important to project the right message about your event - apart from just the music aspect of things

04:45 PM

Hi Saloni. I wanted to know more about the business model of a music fest. What are its sources of revenue and how does it hence co-ordinate its sales and marketing efforts. Also, why does a TV channel get into events?

04:46 PM

Hi Kunj. Excellent question!

04:46 PM

So for a music festival in India, ticket sales don't always cover the costs, specially with the 'jugaad' that goes into arranging for tickets! Revenue wise sponsors & media partners are critical for you to be able to do justice to the scale of investments required

04:48 PM

For a broadcast channel, a music festival a) is an excellent platform to bring our product alive and have consumers interacting directly with the brand b) coming back to your question of revenue - it becomes an excellent differentiation in the value you provide to artists, sponsors and your channel audiences

04:50 PM

The market today is still very unorganized and you have a multiude of people jumping onto the bandwagon. A TV channel lends credibility both for the audience and investors - and lends itself to multiple content creation opportunities

04:52 PM

Thanks. Can you tell us how much the indie music scene is now coming into mainstream? Are there more brands that are exploring this scene today?

04:52 PM

Which demographic is the most important for channels like yours? And do they have the purchasing power

04:53 PM

Another great insight about the music industry Kunj

04:54 PM

Hi Saloni

04:54 PM

Indie music is a big untapped market that a lot of brands are trying to explore.

04:54 PM

However an important aspect to keep in mind when exploring/developing a new market is that it often requires a longer gestation period, where you're primarily investing

04:56 PM

Hi N idhi

04:56 PM

What is the scope of Metal and Rock bands and artists like in the Indian scenario? How feasible is it to market such bands in India and what would be the right approach for the same?

04:56 PM

Hi Nidhi

04:56 PM

What is this obsession that alcohol companies have for being associated with music?

04:57 PM

When it comes to Indian bands, we've always had a very vibrant scene - both in the Indie space and homegrown metal/rock bands. But developing artists takes a lot of time and investment - something that the digital space is currently helping ease. Given the immense growth and interest of homegrown music, there's never been a better time to explore. Look at 'The Stage' - a few years ago we had almost no representation of English singers in this country. But market demands can influence trends and the important thing is to be able to reach out to your audience and stick it out

05:00 PM

What better mix than good music and good alcohol Kunj? :)

05:00 PM

From a business point of view the advertising restrictions on alcohol companies make music festivals one of the few feasible touchpoints for these brands. But it's important to note that even from a consumer POV, alcohol brand integrations in a music space are naturally very well received compared to other products

05:02 PM

Brand Integrations with experiential events are tricky. Advertising needs need to be balanced well with the consumer environment. Too much rigidity about a brand and brand guidelines and an advertiser sticks out like a sore thumb - ruining the vibe for its audience

05:04 PM

Events and music festivals specifically - require integrations and associations that are relaxed and add to the vibe.

05:05 PM

Saloni, thank you for your response. I had another question. These days, "artists" like Dhinchak Pooja and any other so called artists get their two mins of fame by being viral on social media but really talented artists may not even be discovered ever. So is there any marketing formula that actually really talented budding artists can employ to get recognised?

05:05 PM

Tell us about some cool brand integrations you have executed with supersonic

05:06 PM

Nidhi - On one hand it's easy to dismiss 'artists' like Dhinchak Pooja, and that wouldn't be unfair - Cringe pop can only be a fad and they can never build themselves as lasting brands. But on the other hand, it's also important to look at what makes these people stand out and get noticed. What makes you share something - in this cluttered environment they are managing to differentiate themselves by the world something that's not been heard before. Perhaps they have the self awareness to know that if they can't make something truly remarkable, they can swing to the other end and create something truly ridiculous - either way, they've learnt to stand out. The key lies in staying away from winning formulas and pushing the envelope

05:10 PM

Kunj - A fun brand like Vh1 Supersonic is a delight when it comes to brand integrations. A lot of the best ones have been for alcohol. But going beyond that, every brand that speaks to the youth has immense potential to integrate themselves in fun, interesting ways. Eg- Last year Fastrack launched a 'Join the Supercrew' campaign with Vh1 Supersonic. No force fitting of watches or sunglasses, just an excellent opportunity for their audience to experience something they're truly passionate about

05:14 PM

Quikr came on board with us to create an online 'Superstore' where you can bid for experiences at Supersonic - literally stuff that money cannot buy

05:15 PM

Complete honesty though - one of my most fun moments has been getting a Banana Installation made for a condom company. Just explaining the concept to our legal team was out of this world

05:16 PM

And the audience selfies were priceless :D

05:17 PM

Lol :D

05:17 PM

But why this career choice, Saloni? Handling a niche brand would limit your options, right? What possibilities are you looking at after this experience?

05:19 PM

Co-creation is another interesting concept that should be applied at events. Eg - Liquor brands naturally lend themselves to music festivals - and a co-created drink is something that the audience will love. But extend that thought to brands like mobile phones - there's a limit to how many selfies you can ask your audience to take. Mobile charging lockers for your audience displays an astute understanding of a consumer journey and integrates you in the perfect space for your partners

05:20 PM

Hi Kunj. Yes, that's one way of looking at niche brands - they can be limiting in a sense. Another perspective however is that you have niche experience that not many others have. Specializing has its own rewards - at the least I'm guaranteed cool jobs and free gig passes!

05:22 PM

What advice would you give to someone who wants to get into the business side of music? What other options does one have besides mba to get there?

05:23 PM

As an MBA in the music industry, I'd say you'd be a minority. It's an industry filled with passionate people who've not followed a set path, they've made their way through by sticking to doing what they love. You don't see a lot of placement opportunities or job posts in this industry

05:26 PM

On the lighter side of things, what are the perks of the job

05:26 PM

My key advice would be find people who're doing something you love and admire, and just start working with them - in any capacity - it doesn't matter. You'll get to learn a lot and you'll eventually find something that suits you to a tee

05:27 PM

Pranav - Hahaha. That's something best kept under wraps

05:28 PM

But it's a fun job for sure. On one hand it's not a very established territory, so you get to try a lot of fun things. And at the end of the day, you get to throw awesome parties

05:29 PM

And you always get the best seats in the house!

05:29 PM

Saloni, thank you so much for making time to do this chat. Amazing insights and fun at the same time :)

05:30 PM

Thanks a lot Miti, I had a great time!

05:30 PM

Thanks Saloni :)

05:30 PM

Thanks Kunj, great questions!

05:31 PM