Panel / Academy 2024

On 18 July 2024, Grafenegg Academy hosted a panel discussion for Grafenegg Academy’s musicians as well as for the musicians of the European Union Youth Orchestra (EUYO). Three industry experts discussed the above-mentioned topic for approximately two hours with Alexander Moore, who hosted the event, and the audience. The panelists focused on providing insights for young musicians navigating the music industry. The panel consisted in Simone Bamberg (Managing Director of Grafenegg), Marshall Marcus (Executive & Artistic Director of EUYO, Founder and President of Sistema Europe), and Andreas Vierziger (Strategy Consultant and Music Curator).

First and foremost, it is important to take the pressure off this term and clarify: Regarding career and development, there is no one-size-fits-all recipe; career paths depend on individual goals, with networking and market knowledge being crucial.

Aspiring musicians should start considering aspects of their professional future during their education to open up various opportunities. The concept of a portfolio career, which involves balancing a variety of (artistic) activities is increasingly common. Solo performances, engagements with chamber music or larger ensembles, (part-time) positions in orchestras, teaching, personal projects, and more—often in combination—are all characteristics of this career type.

Young musicians are advised to build a strong network, envision their career path and actively work towards it, staying active and adjusting goals as needed. Do they want to be employed or freelancers? Do they prefer stability, flexibility, or a mix of both?

The current cultural landscape presents key trends and challenges such as equality, inclusion, sustainability, AI, and cross-disciplinary collaborations, as well as challenging the concert format.

The industry has changed over the past decade and emerging artists are now expected to take more responsibility for connecting with their audience.

Social media and digital platforms are essential for overall visibility, but in terms of outreach, distinguishing between industry professionals and audiences as target groups is essential.

Social media is well-suited for reaching the public, generating visibility, and connecting with different audience segments. However, industry professionals should be contacted directly rather than relying on them to accidentally discover the artist’s or ensemble’s contributions on social media.

Individuality and uniqueness are highly valued in the current industry, which mostly seeks musicians who leave a lasting impression and who believe in their unique message.

It is therefore of crucial importance to clearly define what one stands for as a musician, the values one represents, and what makes someone special as an artist – and to convey this convincingly.

Effective financial management involves understanding the value of projects in terms of money, joy, and prestige, balancing stability and flexibility, and diversifying income streams.

Revenue streams can come from performances (as a freelancer or as an employee), teaching, administrative roles, recording royalties (although this in many cases is close to nothing), grants and other financial support structures.

Young musicians should be familiar with fair fees and minimum fees for musicians, such as those provided by Fair Pay in Austria.

Health, mental health and well-being are important considerations, including managing career pressure. It is also vital to address these issues early and proactively to prevent difficulties, rather than reacting to them after they arise.

Although many institutions, such as the EUYO, and universities have offers specifically dedicated to these aspects, the entire industry still has significant work to do to raise awareness.

Technology impacts music creation and distribution significantly, with streaming dominating record industry revenue and self-releasing a recording becoming more accessible. Looking ahead, AI will impact the music industry, offering tools for mastering recordings, composition, and social media management.

Regarding the artistic side, new formats, interdisciplinarity, tech integration, community building, sustainability, inclusion, and green concert presenting will shape future concert events.

Most importantly, it's crucial to emphasize that live events remain highly significant and will continue to be so in the near future.