Utopia built a centralized platform that powers a set of new services for all stakeholders of the music industry, from creation to consumption. Building tech for an entire industry can only be achieved by looking holistically at the industry's value chain. In this session, Nicholas will discuss how Utopia are building a new product ecosystem - a growth partner to an industry in a highly innovative time of change. Nicholas will look at the challenges and successes as they strive to achieve a utopian experience for the music industry.
- Start/Position: Creating new revenue streams in an established market - Determining the Utopia growth partner positioning: Enabling the platform to provide services that enables all partners to grow
- Structure: Complexities in building the core platform that powers distributed services to cover the whole value chain
- Accelerate/Scale: Growth direction through both organic and programmatic M&A
- Integrate: What is the right way to bring acquisition technology into your portfolio
- Mature: Creating an ecosystem of products: Defining the product portfolio strategy
There are a number of ways technology companies scale fast. Scaleups that acquire other companies achieve their goals faster than those who grow organically, however they have mammoth culture, team and product integration complexities. Those who have grown organically, that culture and process that helped define their launch can be one of the hardest things to scale. Leaders of these companies are under pressure to determine which elements are worth preserving, how they align with the forward-looking business strategy, and how to define and foster that's ideal as the organization expands and integrates new people into the ranks.
- Integration of acquisition: How you bring that into your portfolio
- How do you manage that coupled with organic growth
- Balancing short and long-term vision