We’re stretching outside our world of sports business to learn from the business of hip-hop. Our guest, Dan Runcie, is the founder of Trapital, the home for the business of hip-hop.
Inspired by a case study that Harvard business school had done about Beyonce, Dan started writing his own case studies on other impressive business ventures in the hip-hop and music world. Today, Trapital explores the intersections of sports, music, hip-hop, culture and entertainment more broadly.
Today, Dan not only writes some of our favorites business case studies that exist, he also consults and advises some of the biggest players in the music industry.
Even if you’re not a fan of hip-hop, this episode is jam packed with business lessons that can be applied to your business.
(5:50) Dan’s background / What is Trapital?
(12:32) Sports and Hip-Hop: “We want to be them, they want to be us”
(13:12) How artists have engaged fans without live events
(17:55) Example of how music can scale into sports and entertainment
(24:37) Creative models to replace revenue
(26:05) Key partnerships for at-home entertainment
(29:52) Name-Image-Likeness Parallels
(31:40) Disruptions in the music industry
(34:17) Framework for analyzing business models
(37:52) The role that music videos have had in revenue generation for the music industry
(44:08) Modern-day lessons from music business leaders
(47:19) Generating Passion vs. Influence
(50:46) If Dan were the Athletics Director for a day…
Resources Mentioned in This Episode:
Harvard Business School case study on Beyonce
Ben Thompson Business Model
Michael and Janet Jackson Scream Music Video
Where to Reach the Guest:
Email – info [at] trapital.co
LinkedIn – Dan Runcie
Twitter – @RuncieDan