Sony Music EVP of Business Affairs and General Counsel Julie Swidler possesses the sort of keen analytical insight and macro-level understanding of the music industry that we can only dream of, which is why we decided to pepper her with questions just before she headed to Nashville for Music Biz 2022, where she’ll receive the coveted Presidential Award during the culminating awards dinner this evening. To our considerable surprise, she answered them.

What was your immediate response to being honored by Music Biz?
It was over two years ago when I found out that I was going to be recognized with this award, but I immediately felt humbled and honored that Music Biz decided to recognize me.

I’m in very good company with some incredible past recipients, so I feel very grateful.

In your position you are afforded a unique overview of the business. Say a bit about this moment in the evolution of the music economy, and where you see things moving.
The music industry is continuing to undergo a huge transformation driven by technology—this includes, among other things, NFTs and their use in the music economy, all things metaverse, data and analytics, and how music consumers of all ages behave when it comes to consuming music.

By focusing on all of these changes, we are able to capitalize on opportunities in the digital age for our artists by advancing Sony Music’s strategies and capabilities around the world and developing cutting-edge solutions that identify new talent, create commercial opportunities for existing talent and provide more transparency for artists.

How has the role of a major music label group changed since the advent of streaming as the primary driver of the marketplace? What further pivoting, if any, do you think will be required?
Sony Music continues to be relentlessly focused on talent and the artists—we are providing unrivaled expertise in building sustainable careers in the music business, equipping artists with the tools needed to go global and providing a range of cutting-edge services that empower them with knowledge and boost their earning potential.

In the digital age, we help predict future music trends and empower artists with easy access to insightful data needed to guide their activities. Our artists also get unparalleled access to today’s top producers, songwriters, collaborators and studios with decades of combined marketing expertise that helps artists cut through a crowded music landscape.

We are building value-added services for artists including premium content and podcasting production, brand-deal business development and merchandising services; while also expanding our network of owned studios, growing our live and ticketing relationships, adding artist-management hubs, and supporting artist-led ventures.

In the continuously evolving digital landscape, we as music companies, and particularly in business affairs, must be flexible in how we see the future. We can’t be beholden to old models of artist agreements, but must understand all new technology, how music is consumed on that technology, and then figure out how we ensure that our artists and writers get fairly paid for that new technology.

What are your thoughts about the emerging “metaverse” economy, with artists rushing into the Web3 and NFT worlds? How do the competencies of a record label play into this space?
Web3 and immersive online environments present an array of opportunities to develop new audiences, new commercial partners and new emerging revenue channels.

We see this as complementary to other activities already taking place with the artist. New Web3 offerings have the ability to drive further streaming consumption and enhance overall audience engagement while enabling a range of additional commercial activity.

We believe Web3 represents another key area where Sony Music can demonstrate value to its artists by helping best position them for success and maximize their fan engagement and revenue opportunities.

This is a complex space that is still in its earliest days, and we are helping artists sort through myriad rights issues, legal and tax questions, platform and partner evaluation, and copyright protection concerns related to Web3, the metaverse and NFTs.

We are also helping drive the development of partnerships and commercial products through relationships with leaders in the space like Fortnite, Roblox, MakersPlace and Snowcrash, who are focused on creating high-quality, easily accessible experiences for artists and fans.

In what ways are the size and structure of new artist deals—and, for that matter, superstar re-ups—being altered by escalating valuation and the influx of investment capital in catalog and other transactions?
This frothy catalog environment only affects a limited number of deals. Otherwise, for most negotiations, it is business as usual.

What would you consider the most valuable advice you could impart to a fledgling artist or an aspiring exec?
Ask a lot of questions.

I’ve always told people that as business affairs, we are the first interaction for artists with our company after A&R, and it is our obligation to answer all questions and explain each individual contract. We need to ensure that those first experiences of our company are positive.

We want our artists and creators to know how they’re getting paid and how they can thrive, so that we can set them up for success from the outset.