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Can Crowdsourcing Revive the Music Industry?

Complete video at: IDEO design director Tom Hulme describes how the music industry has turned to crowdsourcing, in the form of television shows like X Factor and American Idol, as a means to stay profitable despite rampant piracy. "They've taken the most expensive bit of the music industry, which was artist and repertoire, like searching for talent, and they've totally democratized it," says Hulme. ----- For the past year Tom Hulme has dedicated his life to establishing a global tool for problem solving -- Open IDEO. Fueled by the internet and social networking, new highly collaborative platforms such as Open IDEO are being embraced by governments and businesses alike, tapping into the wisdom of the crowd and the global demand for new and innovative thinking. Join Hulme as he explores the rapidly emerging space of open innovation and confronts the challenges of crowd sourcing. - Australian Broadcasting Corporation Tom Hulme is a Design Director at IDEO in London, where he uses the innovation and design process to develop new business opportunities. A serial entrepreneur and angel investor, Hulme has first-hand experience in building successful enterprises and, as a result, a very thorough understanding of business.
Length: 01:27


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