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Music Industry Development
'06-'07 Committee: Phil Trenary (Chair); committee members transitioning presently
Key Partner Organizations: Memphis & Shelby County Music Commission; Memphis Music Foundation
In late 2002, Memphis Tomorrow concluded that Memphis should re-establish its Music Industry.
The board and staff believed that current industry trends together with Memphis’s rich music heritage presented a unique opportunity to re-establish the Music Industry as a major economic engine for the community. Specifically, we believed that with effective planning and investment, the industry could once again generate quality jobs and significant tax revenues, while accentuating the City’s image as an appealing place to live, work and play.
Since that time, Memphis Tomorrow. . .
- Established a partnership with the Memphis and Shelby County Music Commission (MSCMC)
- Convened, together with MSCMC, a Music Industry Strategic Planning team
- Funded and guided the Strategic Planning initiative ---which incorporated input from nearly 1000 members of the local and national music industry – and which resulted in an action plan for industry development
- Commissioned an economic impact study of the industry to provide a baseline for measuring progress on the action plan
- Seed funded the priorities for action outlined in the Strategic Plan
- Established, together with MSCMC, the Memphis Music Foundation (MMF), a 501c3 organization to lead the charge towards industry growth much like the Bioworks Foundation does for the Bioscience industry
- Is currently incubating the MMF through financial support, and Memphis Tomorrow staff and board member leadership of the MMF board.
- Through the vehicle of MMF, is ensuring the Strategic Plan remains dynamic, that progress is made, and that success is monitored and measured. Specifically the Foundation, with the support of Memphis Tomorrow, is concentrating on five key priorities of the updated Music Industry Strategic Plan:
- Re-Launch Stax Record Label in partnership with Justin Timberlake
- Launch Sam Phillips Center for Independent Music to support music business development in Memphis
- Establish a significant music industry 'realestate cluster’ in downtown Memphis
- Launch ND Radio Series to bring exposure to a wide variety of high quality local artists
- Launch a Digital Music Distribution Initiative
< Back to full initiative list
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