 Greetings, this is Gerd Leonhardt, Media Futurist and CEO of the Futures Agency in Basel, Switzerland. Just a quick report in between mediums. I've been going to medium for a long time. I think something like 18 years. So I've been also running a few things on the block, which has been quite interesting. I want to comment what's happening right now in the music industry. We're sort of in between events here, the next one being January, of course, next year. And I really look forward to being there. But there's a lot of things about the music industry I find quite troubling. There's a few hopeful things as well too. But the troubling stuff really to me is that about 13 years or so after Napster, we're still looking into a direction to where we think that we can control the consumer and see what they want, what we could get away with for them to do rather than to actually go with what they would like to have. And we're seeing discussions about things that are sort of theoretical, like if we can actually make them not copy music on the Internet or share it. While everyone in the world, including T-Mobile and Germany, runs a campaign for Lives for Sharing and where even the Kindle is now pretty soon going to be available to shared books. We still have music industry debates about preventing people from sharing rather than enabling. We have debates about licenses that are still not being given to the likes of Spotify and other countries. We have a pretty dysfunctional situation. I think we need to really ask ourselves in this context, not to be too negative in this little talk here I'm sharing with you. We really have to ask ourselves, what do we want? Are we preferring to keep things in the way that they were and sort of go down with the ship? Or are we going to fix the ship or build a larger one? Are we going to be bakers or eaters, as Guy Kawasaki says in his latest book, I think it's called Enchantment, where he talks about how some people create a small pie and then everybody tries to eat from the small pie or other people don't create anything at all. They just eat the pie. But the solution to our problem really is to make a larger pie, to bake a pie together. And I think this is really what we're looking at going with that sort of idea of baking and eating. Let's bake something together with the ISPs, the operators, the mobile device makers, the social networks which are the new broadcasters of the world. Let's bake something together rather than just try to eat a piece of their pie to get Google to give us a piece of their pie and so on and so on. This is not an approach to work and I think it's a headline for what I want to tell you in this little talk. We're moving from this idea of ego system, which the music industry is definitely a great example for, not to say it badly, this is just a fact, but ego system to ecosystem. And I think we're seeing this around the world in politics and food and energy and discussions that I'm involved with many things beyond music, of course, from ego to eco. This is the crucial part. We have to find a way that we can make this work together rather than one against the other as it was for a long time. And of course that also goes for the conversions of rights, master recordings and publishing, public performance. Everything you do now on the web is a public performance of course, but it's also a copy because it generates copy sort of on the fly automatically just by the very use of the music that we're seeing on the web. So we need to move forward and say, okay, how do we solve this together? How do we create an ego, an ecosystem, not an ego system? How do we go and bake something rather than eat each other's piece? And this is a very, very big problem in music because I find that especially those that have already eaten and the sense of have made millions already with music, which I don't fit in by the way, you know, millions of lira or so, or rupees maybe, but in any case, those that have already eaten a big pie, you know, of course, they are interested in having less people eat. And this is not a good thing. I think that basically what we need to do is say, okay, how will music work going forward? Not how did it work backwards so that we can actually go and put a band aid on or try to recreate CD sales. I mean, CD sales are diving. The industry has declined by 70% recorded music, of course, not publishing and not live recording, not public performance, which is great. That is the direction that we need to go. Music is an experience. Music is not just a transfer of a file, a download of a song. I mean, that is cheap. That is free. That is not going to monetize us. We need to move forward and create an experience to talk about curation, about play listing, about added values. None of that stuff is new, but let's let go of that old stuff and the complaints about how people are free-doned. They are free-doned because we are not giving them the right chance to pay. In my view, piracy is essentially unmet demand. And we are seeing it, I tell you, around the world in drastic proportion. But I have to tell you, we ain't seen nothing yet, as the song says. The Bachman Turner overdrive song that my generation knows. You guys probably don't know that out there. But we ain't seen nothing yet because quite simply when the other 3 billion are coming online with mobile devices, we're talking about Russia, India, China, Indonesia, and of course Brazil and so on, then we're going to see a huge amount of self-serving and free-loan. Just clicking and not paying, not ever thinking of paying, unless we put a system in place to monetize, which in my view involves a new kind of usage right from music on the internet, a public license, something that everybody can use and everybody can pay so that we create a structure of rivers and pools of money, larger pies rather than the good old definition of mechanicals. I mean, how can we deal with the system where we're saying that copyright is something that we can use going forward? Of course, everything we do is based on copyright, but think about this for a second. Can you actually define what a copy is on the internet? I mean, if you're streaming this video now over YouTube or whatever and you're using a streamripper or anything like CubeSock, don't mention that. Then you can keep this file and then you've made a copy and it's cashed somewhere. And then, of course, I may have the right to tell you not to use my fabulous talk somewhere else and cut it up, but that's a theory because it's available and you will do it if you feel like so. The problem that we're having is that copyright as a construct is what everything is based on, but we have to create something on top, just like we did with the radio and broadcast license, which in my view will be a public usage right or license for music to be used on the internet in a way that monetizes what people actually do rather than what we want them to do. And I really, I appeal to you at next year's meeting to drop the charades and drop all the posturing and drop all the dinosaur ring and think about how can we take this forward together? I think the answer is outside of the music industry because obviously the music industry itself is very much closed off and inside. So let's bring those people in. My appeal to you is to get with the program and bake. Don't just eat. Thanks very much.