Lady Gaga is the most followed person on Twitter with over 30 million followers, so it’s a safe assumption that her manager, Troy Carter, probably knows a thing or two about social media. Carter’s AF Square Fund has invested in 40 apps and music-related online start-ups like Spotify and Rap Genius, and the manager is confident that embracing the changing dynamics of music consumption is the key to success.
Carter is set on turning littlemonsters.com into a community of real Lady Gaga fans that offers insight into what these people like, where they spend their time, and when they became fans. He might be on to something. Here are some of the things he said in a recent interview with The Guardian:
“The way consumers interact with music is different now. It’s not an albums business any more, it’s a singles business again and the industry has gone through that before. People are experimenting with streaming, with subscription services, whether it’s a Spotify or a Pandora or a Rdio. I think piracy itself is going to end up going away. If you can get something for absolutely free [instead of] stealing it, and the quality of free is actually better than the quality of stealing it, the choice becomes easy.”
“A ‘like’ [on Facebook] doesn’t necessarily translate as a fan. It’s a very passive relationship. It’s more important to have the one million diehard fans, than to have 54 million people who aren’t necessarily fans or they might have liked one thing you said, or one video. It’s being able to segregate those audiences and knowing who the super-fans are.”
“We think the future of social media are micronetworks and communities built around specific interests.”