Rob Stringer recently spoke at the 28th annual Goldman Sachs Communacopia conference. Stringer is a chairman at Sony Music.
During the communacopia, Stringer would speak with analysts. The conversation touched on many different topics.
Topics that stuck out the most would be sustainability and recovery.
“I’ve been through four chapters — I started at company when it was vinyl and cassettes, then it was CDs, then downloads and now streaming. And I would say this is probably one of the most exciting but also the most complex chapters. When I started, we owned manufacturing and distribution, and that brought significant profit into company. But it also maybe made us slightly myopic, because we owned everything, and maybe slightly arrogant, because we owned everything. In technology terms, [the CD boom] was really based on reproducing [music that had already been issued on vinyl], and is that really an economy? Going from downloads into streaming has made us have to change in an evolved way: We’ve had to probably more than in the last five years than in the last 35 years. And it’s okay. We went through a really dark time in the early 2000s — which I’m sure some people in this room think was deserved, and they might be right, but I think we’ve come out of that period with an understanding of where we need to be and an identity that’s much more long-term than the previous chapter.,” said Stringer.