Music In 3D

Since the introduction of the MP3 player and the ipod, CD sales in the music industry have declined.  Consumers are able to purchase their favorite song at a lowered cost, which have caused album sales to fall.  In the past music artists use to do concert tours to promote a new CD, now artists are doing concerts to “make ends meet.”  Music executives have begun to explore how 3D technology can increase revenue.

The thought from executives is that not only will 3D concerts help to increase revenue, but it may help to solve some of the piracy problems the music industry is experiencing.  The technology associated with 3D is very expensive and nearly impossible to replicate and reproduce.

Recently, The Black Eyed Peas announced that they would be making a 3D film with director James Cameron.  Hollywood agent Sanford Climan says “there is a lot of money to be made from filming concerts in 3D and screening them in real time simulcast.”  By simulcasting a live concert fans are able to see their favorite band perform when they cannot afford a ticket to the concert or when the concert sells out very quickly. In 2008, U2 screened their 3D concert at the Sundance Film Festival and it was shown in 600 American theaters, the film grossed over $20 million.

I’d have to admit that it would be more convenient to see my favorite music artist’s concert at the local movie theater, especially when the closest venue to me is 45 minutes away.  This would also decrease my out of pocket costs such as gas, concert ticket compared to theater ticket and beverages.  But, would the experience the same?  Do I chalk it up to you get what you pay for? I wonder if this will be a one-time fad or a cultural phenomenon.  I think that a 3D concert for the pop artists will do very well, but I am skeptical when it comes to the other genres of music. 

http://www.guardian.co.uk/life-in-3d/3d-in-the-music-industry

Funding A Dream

Owning your own business starts with a dream. An idea is born and the entrepreneur takes that idea and brings it to fruition.  In a perfect world, they have the financing needed for start up costs to get their idea off the ground and start selling their product.  In the real world, most companies have to search and seek out financing for their dream.  But where do you go to fund a dream? The websites below offer different types of financing for the many different types of individuals and businesses.

The Opportunity Finance Network is a financial network that provides financing to low-income, low-wealth, and other disadvantaged people and communities. 

http://www.opportunityfinance.net/

The Association for Enterprise Opportunity focuses on the development of microbusinesses.  The members of AEO include microlenders, small business development organizations, non-profit lending organizations and educational institutions dedicated to microenterprise.  AEO’s affiliation with microlenders can help a microbusiness obtain the funding they need to get started.

http://www.microenterpriseworks.org/

The Coalition of Community Development Financial Institutions provides funding to distressed communities.  The funding obtained is to help develop activities in low wealth communities in both rural and non rural areas across the U.S..

http://www.cdfi.org/

The Corporation for Enterprise Development operates at the “local, state and federal levels to create economic opportunity that alleviates poverty.”  The CFED is working to provide asset building for children.  The ABC initiatives are savings, college success, financial education, partnerships, products and policy.  CFED is forming partnerships with larger corporations to provide funding for these programs.

http://cfed.org/

The Community Development Venture Capital Alliance provides equity capital to businesses in underinvested markets.  CDVCA also “promotes the field by combining advocacy, education, communications and best-practice dissemination through conferences and workshops.”

http://www.cdvca.org/

“The National Community Investment Fund is a non-profit, private equity trust that invests in banks, thrifts and credit unions that generate both financial and social returns.”  The institutions funded are designed to promote community development with the majority of its focus on low to moderate-income people or communities.

http://www.ncif.org/

The National Federation Of Community Development Credit Unions was developed to serve low income and minority communities.  Their mission is to provide financial, technical and human resources to help Community Development Credit Unions.

http://www.natfed.org/i4a/pages/index.cfm?pageid=1

The U.S. Economic Development Administration provides federal funding.  There are many grant opportunities that a business can apply for.  The EDA also provides information regarding leadership and many other investment program opportunities.

http://www.eda.gov/

The First Nations Development Institute is a funding resource for Native Americans. They provide financial and investor education, business and asset development and direct financial grants for Native Americans.

http://www.firstnations.org/default2.asp?id=69

Oweesta is a subsidiary of First Nations Development Institute.  Their main focus is to provide “tools and knowledge that lead to sustainable and systematic economic development for Native Americans.

http://www.oweesta.org/

After reviewing these sites, I learned that there is funding available for many different types of people such as minorities, Native Americans and more.  The funding can be found through investors, grants, trusts and many other resources.   If you are looking to fund your dream, there are resources available to you.  Obtaining the funding will require a well thought out business plan.