Billboard:
Universal Music Group executive VP of eLabs, Rio Caraeff, spoke about the concept of the “living album” during a keynote address at the Leadership Music Summit One in Nashville on Tuesday. The living album concept is based upon the notion that music companies’ most valuable product is the music experience. Caraeff’s discussion of access over ownership and cloud-based services showed a major music company can be flexible and visionary. To date, access models have proven to be limited in popularity or limited in revenue.