Business Excellence Awards 2020

Acquisition International - 2020 Business Excellence Awards 11 ith everything that they do, Modern Producers’ mission is to level the playing field between industry producers in multi- million dollar studios and the independent music production community. They do this by offering high-quality products at the lowest possible prices. One of the most important factors in being a successful music producer is having access to the right, current sounds. The big secret of the music industry is that a great many hits are based on a handful of select high-quality software presets and go-to drum and instrument sounds that the major producers use. Having access to these sounds has the power of turning an amateur production into a radio-ready track. That’s why with Modern Producers they seek to create products that provide producers with the same quality sounds their top peers are using. Modern Producers work hard to treat their customers like a community and build a lot of goodwill by hosting contests, giveaways and special offers. These kinds of brand building activities have proved invaluable to the business. The most recent example of this is where they started up their ‘Cook Up Contest’ series where they created a special product containing exclusive sounds and samples. Producers then download the product and are asked to create a composition using only the sounds within. The best compositions are then chosen and prizes are awarded. This has proven to be a very popular promotion and has been a great way to engage their community. Importantly for Modern Producers, this has generated a lot of industry buzz and has driven a lot of traffic to their site. As with themusic industry as a whole, themusic production community is becoming increasingly democratized and Modern Producers wish to play a major role in this. Never before have artists had access to such a wealth of tools, services and opportunities so it is an exciting time to be an independent musician. Modern Producers CEO Adrian Wood has learned a lot throughout his years in business. He says, “I'm a firm believer in not overthinking things. If you have a great business idea, it's time to execute. Dive right in and roll with the punches.” This philosophy and attitude has helped him to grow three businesses to over seven figures by his early 30s. Modern Producers is a testament to this way of thinking. When Modern Producers was first launched, they noticed a real dearth of websites for music production tools that married choice and Modern Producers is an e-commerce platform selling software and tools for the modern music producer. This ranges from everything from drum kits to sound loops, preset banks, vocal libraries and Virtual Studio Technology. Having accumulated years of experience and success within the industry, we took a closer look at the business to discover how they are creating unique sounds with a first-class service. Best Online Music Production Tools Marketplace 2020 Company: Modern Producers Web Address: modernproducers.com W affordability with quality. There were a few other players in the market but they either provided masses of mostly cheap, low quality products and overwhelmed consumers, or had a very limited selection of a few very expensive, high quality products that only covered the needs of a very small part of the market. Setting up a store, registering a domain and onboarding a few initial vendors to supply them with products was a straightforward process, and within a week they already had a functioning site that was making a handful of sales from marketing mainly one-on-one to music producers through social media. Modern Producers is very much an experiment that grew into a success story. They put their customer of the forefront of everything they did and along the way have built a group of dedicated followers. In doing this, they have made their success seem like an inevitability. This success didn’t happen overnight however and like any new business Adrian believes they made mistakes along the way. As with all good businessmen, he has learned a lot from these mistakes and has adopted new strategies. An example of one of these strategies is that today a major part of the business’s revenue comes from a subscription model “The Platinum Circle”. The popularity and scalability of this format makes Adrian wish that he had considered this much sooner! Modern Producers operate with a very small staff and minimal overheads. Their focus is primarily on providing an automated sales platform that supplies music producers with high quality products. They operate on a commission basis and pay out their partners who create the products they distribute monthly. There are also special bonuses for top performing products and one-off product launches through a carefully crafted sales funnel sequence. By employing this model their partners are motivated to provide high quality materials and their financial success is directly correlated with that of the business.