“the future of
music is going to be? “How and where do you
earn most of your money?” – I’m actually very excited by
the disrupt in the music space. It’s deserved to be disrupted
for really quite a long time. And this deserved to fail and
I say that with all kindness. – You mean the people in the middle having
disproportionate economics? – Yeah, if I could do
a brief history of music. Musicians spent a long time
understanding who they were and what they offered as musicians. People call that a brand now. But they were
natural brand creators. And so Led Zeppelin
stood for something. You know, loving a
musician was like an ethos. It was an entire culture and
they were culture builders and they spent years cultivating
that culture on the road. Radio came along and it
just super boosted things. And there’s a golden time there
for when that happened and then radio became so
powerful people realized, “Hey, I don’t have to
have a whole great record. “I can have one good song,” and
then the record labels were like and we can charge for an entire
record with only one good song and the consumer
started going, “Hey, screw you guys.
I’m getting ripped off. “This is a sucky
record with one good song.” Enter the digital age
and people could say, “Oh good, I only have
to buy one good song.” – At first, they’re like, “Wait a minute, Napster.
I’m not buying shit.” – Yeah.
(group laughter) And streaming. I don’t personally feel that
music will be monetizable in a very foreseeable way. I think that we should focus
on musicians as brands and we’re lucky enough to use
music as our brand builder, as our calling card and the
future of the music business is learning to build
brands around artists. The artists get
to have equity in. – Yep. You know, obviously the
monetizing of live event. So I think access is
where all the magic is ’cause it’s the
limited resource. – Mhmmm.
– Right? So whether that means
in a show or one on ones or the brands they touch. I mean look, it’s funny
here you go with the brand move of the equity thing.
– Mhmmm. – When you think about the
economics 50 Cent made on just his sponsorship deal of Vitamin
Water let alone what you’re seeing now where
you’re, you know, celebrities and
musicians are getting 5, 10, 15, 30% of a
business before it launches on the back of their brand. It’s a very entrepreneurial
answer but it’s the truth. It’s a race to the bottom of
control of those economics. – Yeah. – Andy?
– [Andy] Cool.

– Gary, Gary,
Gary, Gary Vaynerchuk! Hey you remember when episode
three you said it should be your life dream to get your
question on my show? Gary, it’s my life dream, man. Please, India!
Come on, girl. Get me on the show. Just kidding,
India, you’re awesome. I love you. Hey, I’m really glad
you didn’t get fired. (laughs) We were worried,
we were worried. Vayner Nation was worried. Hey, DRock, can our cameras
get together and focus? (laughs) I’m Zeek Fit Freak coming
from you Valparaiso, Indiana. Cornfields and everything.
Oh God, help me. I need a mountain. Somebody get me a mountain. I’m a personal trainer
and a lifestyle manager. Ooh, that’s a new one.
Lifestyle manager. Ooh, what does that even mean? Well, I’ll tell you but
let’s just get to the question. Okay? No but really, I love what you’re saying
about self-awareness. It’s one of the number one
things I talk to my clients about, one of the number one
things that is changed my life for the better in so many
different ways but being truly self-aware I know that what my
best talents obviously is the energy that
I bring to the table. And I’m telling you,
I’ll bring this energy to the table
wherever I’m at. Okay? Call me out there, right now. I’m gonna drive out there.
You think I won’t? I will bring this energy, Gary. And I know this will be really
great for brands but I’m trying to brand my own thing
on the side, right? So the question is
how do you harness an emotion that comes through the energy that I develop and give and
share with other people? How can I monetize that online? I’ve been working on it and
I could really use your help. Thank you so much, Gary. I love you, man. Hey, DRock link in
the description. Ooh, get right
there, right there. Lift life guys and
go New York Jets! Woo! – Jason, what are
you doing with that? (group laughter) – Wow, it’s like Jim Carrey. – He’s really, really, that’s
got some interesting charisma. What do you think? How does he
monetize all that energy? – Well, here’s the thing,
we both know online is a great way to get attention. It’s a little bit challenging
sometimes to monetize. Obviously, the
CPMs are very low. It’s hard to get the brands,
that’s why big agencies like your’s exist and other
ones around town. They have the brand
relationships, so they’ll be some opportunity to join
these networks of stars, you know about those.
– Yep. – And that’s a fine way to do it
but I think building your brand online and then
increasing your prices offline. So if he’s a trainer and he’s
got five clients and they’re all paying $50 an hour, what
I always find is people are afraid to raise their prices
and lose clients, right? So if he keeps growing and he’s
that good, he should be able to double his price. Then double your price, then
double your price and maybe have five people who are paying $400 a session where
that kind of a thing. So be good at
whatever your skill is and then keep raising your price. – Products, services, content.
– Yeah. – There’s only 4 to 5 things
that one can do to monetize. – Sure. Yeah. – You got great energy, you get
attention, you get you build a base and then you can
do a lot of things. You could sell
them stuff, right? – Sure.
– Make a product, yep. You can sell a T-shirt like you
can sell them a physical thing. – Yeah.
– You can create a service. If you train people and
it’s 50 bucks an hour then it’s 100 and 200,
you can be in a place where you as a personality
gets monetized. You sign a book deal,
you sell a lot of them. You speak for 100 bucks then
1,000 bucks then 5,000 bucks. You create a
scalable content play. You put out something that is,
you know, you put your classes on Udemy and all
these kind of things. – Yeah. – You collect, Creative
Collective and things like that so you and I can give
you like a lot of things. But the truth is only five or
six things that are out there. – It’s always the rookie mistake
when I talk to somebody and say what’s your business model? And they say well, it’s going to
be advertising and subscriptions and then we’re gonna sell things
and then we’re gonna sell the data and they list 18 things. It’s like, whoa,
whoa, whoa, whoa, whoa. The great companies,
Uber, take a percentage. Tumblr, advertising. Google, ad networks, right? It’s very rare that you see even
a big company, Apple selling hardware, goes into a
second or third business line. You have to pick
one and master it. – Go deep. – And just master it because
you know how hard it is to get advertising and content to work. You have to be the number one
person in your category and you have to very tight relationships and you have to
deliver for those advertisers. On a product basis, people who
are making great products and selling them at a high profit
like Apple, man, it’s hard to compete against
people like that. You have to be
exceptional in this nature. – The other thing for a lot of
you that are watching that I think will be valuable
is try to do everything. Give a free speech. Create a content e-book. Go try to get a publishing deal. Try different things. – And see which ones pop.
– Yeah. – And which one you enjoy.
– Yeah. I think so. – That’s critical to because
if you don’t enjoy being in a service business and having
customers, you can’t do it because you’re gonna
hate your customers. – Oh my gosh, all my
tech friends as you know– – Yes. – Like from what I came from,
they’re like you like this? You like having–
– (sighs) Brutal. – I’m like I like it ’cause
I know what it’s building for me long term.
– Yeah. – You know like nobody in tech wants the unscalable
nature of this. – Of a service business.
– Nobody. – No.
– Nobody. – But if you look at it, you
have real clients and look at the knowledge you’re getting. You have all these Millenials
out here and they’re different, aren’t they?
– I don’t think so. – Maybe different
than Gen X’ers. – You know what, I think
that’s a popular conversation. I think people pretty basic.
– Yeah? – They the same tried-and-true
things which is they have some balance of their
wants and needs. I just think that
they have more power. – They do. – They have more power because the world has
gone in their favor. They’re 20-something in a
time where 20-somethings are respected by 40, 50 and
60-somethings around business because business
is being done here. And they know it better. – Do you get the sense when
they’re looking at you that they’re like, “I can be him
and I can do what he does.” – I hope not because then
they’re fucking stupid. – Yeah. I think I’m looking
around the room, I think a lot of them are like
I could be in charge. – You know what’s funny,
I hope they feel that way but it won’t happen.
(group laughter) – It takes time. – Alright, India, let’s go.
(group laughter) Hadi Yousef here.
Off of your inspiration,

what would you do with it? How would you change how it
delivers news/earns revenue?” – If I own a small newspaper I
would hopefully own one that had big brand equity even
though in a small market. So even if it’s Bethlehem,
Pennsylvania if it’s the Bethlehem Times or
whatever the local paper, actually the Easton Express. Isn’t that their paper
there, the Easton Express? – [Staphon] Oh yeah. – Do you know the
Easton Express though? – [Staphon] Yeah, yeah, yeah.
– There is an Easton Express. So if I owned the Easton Express
that’s a very important thing in that part of Pennsylvania and I
would turn the equity and this is where Jeff Bezos was
brilliant with buying the Washington Post he didn’t
buy it for the print, he bought it for the brand. And to the Easton Express to
that small area of Pennsylvania matters quite a bit for Lehigh
Valley and I would try to make the digital modern version. Today, I would make an app that
is the absolute news app of the moment, notifications driven. I would digitize the IP and try
to milk the print revenue for as long as I could but I would
assume zero print revenue in a 10 year window all IP value being shifted into
something else. Same reasoning 92nd
St. Y is so insane. Do you know how this played out? You know how I talked about
Nintendo at 92nd St. Y and a month later they announce
that they were going to do it. A lot of people
were like you knew? Yes I’m that wired in. CEO of Nintendo’s hitting me up. That’s what I would do. Nintendo smartly finally has
understood that they’re going to take the IP and take it
to the relevant place. That’s what I
would do a newspaper. I would take the IP and I would
take it to and relevant place. I would also create
revenue around event marketing. Instead of taking advertising in
my print, I would take one full page to invest in my
own events business. Like the Fall Festival. And I can use the newspaper and
its awareness to build up this events driven business and every
year in Philipsburg, New Jersey there’d be a Fall Festival
for the Lehigh Valley of Pennsylvania and New Jersey area
and so I would siphon the waning attention and I would deploy
it into new environments like digital content and other
revenue streams like events. That was tangible and tactical. And really maps to
everything outside. I think of everything in IP
transfer to the modern world, not just the newspaper. So if about a 1980s
cartoon IP, the Wuzzles,

personal brand
instead of focusing on other people’s brands? How did you decide to put all
of your eggs in this basket as opposed to putting your eggs in
a bunch of different baskets? – For me it’s actually
because I’m a business operator. I built a big wine retail and
e-commerce business before I became GaryVee. Don’t forget, very different
from you guys and most of people’s tracks now. I was 30 years old and
had built a business before I ever made my first video. I didn’t grow up
in this generation. If I did, I probably would have.
We’d probably be laughing right now and showing videos of
baseball card kid Gary saying buy the Frank Thomas rookie card. I just didn’t
grow up in that era. The reason I can build
VaynerMedia and the reason I don’t just live off of being
me, I always say I’m CEO of VaynerMedia, I run businesses.
I’m a venture capitalist who plays GaryVee at times. I like this, I like this. I think it’s important it brings
opportunity but at the end of the day in my purest form
I’m a businessman much more than I am a personality. What VaynerMedia did for me is it scales my my marketing skill set to deploy against people
or brands or my own brands. I want to buy brands in the
future so that’s kind of my play on that. – Love it. – I think for everybody you need
to really think about how you want to monetize this. Are you going to
deployed against the product? I had a deal from Target and
CAA to do a wineglass that I probably would’ve made
millions of dollars on. It would’ve been in every Target
store, it would’ve been the big wineglass it would’ve been
the product of the season. I didn’t think that I
could vig the outcome. And let me break
this down of things, the place where you want
to make your money is the place where you think
you have the most control. Not where you can
make the most money. – That’s great advice. – That’s something I
haven’t really talked about. So I’m glad, I feel
we got the something. (heavy crosstalk) – Can you like elaborate on this? – I’ll keep going. Books are an
interesting place that I plan. It’s one of the place I
monetize because I can control it. I sell the books. Not HarperCollins, not Amazon,
not Barnes & Noble’s, me. I can dictate it. Doing a sponsorship deal with a
wineglass at that point I wasn’t big enough to feel that I was
going to drive thousands if not tens of thousands of
people into Target to buy it. Maybe 1,000, maybe 3,000 but not
enough for Target to care if that was the only
people that bought it. So what you want to do is always
set yourself up in a place where the outcome is impressive to whoever you collaborate
with or the market. If you can sell your own music
direct to consumer digitally and you get 1 million
downloads, you did it. Now you have leverage. Everything is about leverage. And what happens is too many
people take the short-term money what happens then is
then there is a result. For example, I and I won’t call
them out because I don’t like negativity, but there’s 12 to
15 social media experts who get paid to speak and get paid to
consult whose books sold 2, 3,000 copies. if you’re so good at social
media marketing, then wouldn’t have you done that
to sell your book. These conversations are
happening behind the scenes, not publicly, I won’t throw them out
like other people but there’s people not hiring them or they
have them as a C class citizen because they’re like look at
their Bookscan numbers. I sold over 100,000 copies
of my book in the first week. – Wow. – And that’s a very big
difference, and by the way if I list some of the names of the
people that I’m referring to for a lot of people to follow social
media there like oh yeah Gary’s kind like that guy or that
girls kind of like Gary. No, we’re not. They didn’t build $100 million
business. They didn’t sell hundred thousand, and so for
me I have the audacity and the bravado because what
I preach is also what I use to create results. You guys are living and you guys
think I’m doing the right stuff and I’m an old dude. Right? I’m doing Snapchat right. I’m doing vlogging right. – I think that tells us that our
ship is in the right direction because there’s a lot of people
when we first started that was like what the
fuck are you doing? Why are you
taking these pictures? – It is cool that you’re
this age and you know how to do social media. – Listen, I’m almost dead. – Aren’t you the only social
media expert that’s ever been on the New York Times bestseller? – No, I’m sure there’s others
and I don’t even know where the line is about social media
expert what have you but look I have real results. Oh thank you this is a good
segue, guys think you so much I just found out it’s coming out
in a week or two #AskGaryVee made the New York
Times best-selling list. Four books that have done it,
thank you, but that’s like a weird list where a lot
of things are weighted, it’s how many I sold. I had a great conversation with
my editor yesterday, I’m a free agent now
and I can go to any publisher what have you and I’m like look, I didn’t get
number one which is what we wanted, right? I think it’s
number six on the list. She’s like this is bullshit. she was mad she wanted to be
higher because an algorithm not just copies sold. I said don’t cry for me. You’re
not giving my next deal based on if I was number one or number
six. You’re giving me the next deal based on how many
that were sold. You made $3 million in revenue. You have to know
what your North Star is. All right, any
question you would like. This is a bunch of marketing
people, businesspeople,

the Nickelodeon 2016 Kids
Choice Awards Orange Carpet. I’ve done over 700 interviews
since I was seven years old and I’ve also been pitching a
scripted TV show concept. Eventually I want to expand
to an online TV network sort of thing so I want your
advice on how to monetize. Where do I go from here and
when can I interview you? – Oh my God!
– That’s amazing. – So Piper I’ll save you a
ton of time let’s do it ASAP. Tell me where you’re at,
get to New York, call me. – That was pretty impressive. – Actually sorry Piper, text me. That was amazing. What do you guys
think about that? – I think that when she talked
about how to monetize the short game is to go for brands, the long-term game would be to continue her hosting on YouTube,
push it on her platforms and maybe even grow it in to
sort of a brand where she has a clothing line.
I mean she’s adorable. She has this red hair that is
different she could do something with that.
– Yep. – Make her own little
network. I mean honestly. – Yeah. – And I also think right now,
it’s not about the ads, the pre-roll ads, it’s about who the
brands who want to work with you and that makes
sense with your brand. – Right. – If you have hover board
sponsor a video no one’s going to care. (crosstalk) Find things that work
with your brand and integrated into your content.
Don’t, you know– – I think I will definitely
have you on the show. You’ll interview me and during
that show I’ll give you much more detailed answers
because it’s really predicated on your situation. I don’t know the
financial situation of your parents’
or your situation. There are so many things, I
hate giving general advice when there’s an opportunity
to give specific advice. Since were going to be
hanging out, I’ll go there. The longer you can wait,
the more you will make if you’ve got the talent. I think that’s a real KPI. I think the other thing is, I
noticed all the things you had there I would aggressively
start looking at musically. I don’t know what you guys are
doing with musically either one of you are on it. But I think that is the absolute
platform of junior high right now and it seems like
that would be a very smart place for you to go. I would continue to be first
mover in new places because I think that you’re at such a
young age were that can be a big, big, big advantage. Supply and demand is different
on musically that it is on Snapchat, Instagram or YouTube. We’ll have specific advice
for you Piper very soon. – That was cool.
– That was cool. – Now you guys.
What do you got? – I was thinking of questions
and I pretty much know all the

would you recommend a white-label video
player or YouTube for media companies looking to monetize video content if you
have an advertising department can get your own sales team to sell pre roll or
integration within your own video player that gives you more flexibility than
what YouTube could based on what your advertisers or partners would want from
the player and that you can justify building a player for a couple hundred
thousand dollars because of a million dollar sponsorship but this sponsorship
wanted these unique things that you didn’t have to do that if you like 99%
of the rest of the world use YouTube type guy lot of people enjoy watching
the show took forever to fuckin sense to

“working 7 pm to 2 am doing
what they love, but aren’t “sure how to monetize it, such as a blog?” – Helena?
– Yeah. – You know Helena I think, you
know, I think it’s dangerous not to have a concept of
how you’re gonna monetize if you want money
as a KPI meaning, I need everybody understand, there’s a difference between strategy and patience. You need to be patient to
execute your strategy but you need a strategy, and by the
way, strategy is very easy. If you’re building a personal
brand or you’re talking about coffee or things
of that nature, whatever you’re doing there’s
a lot of ways to sell. You sell as being a personality,
you show up at events to get paid for that, you
make a book and you sell that, you create a product, like a
coffee maker and you sell that. There’s not a lot of different
ways to monetize and make money, you make it through
advertising, you make it through appearance fees, you
make it through selling stuff. It’s quite basic so I’ve saved
you time on your strategy, that’s how you’re gonna monetize. You’re either gonna
syphon the leverage into a product, a service or your time. That’s it, that’s your strategy. I’ve told you, you now know
how you’re gonna do it. Now, what you really need to
worry about is does anybody give a crap about what you’re
doing between seven and two. You can’t just talk about
loving knitting or loving sneakers but nobody
thinks you’re good at it. You know there’s a little
bit of a metatocracy in this. The market has to care, and if the market doesn’t care, you lose. – [Voiceover] Daniel asks,
“I’m starting a fatherhood

“Is it wise to form a startup
around an app or website “which will solve a problem,
but without yet knowing “how to monetize it?” – Yes, Anthony. Solving problems in utility form is one of the greatest ways
to make a shitload of money. You know, for, I mean like, absolutely. Like, like, if you, you know, yes. I’m like, anytime you solve things for, anytime you solve things for people, monetizing becomes the
easiest part of the equation. The reason I’m pausing a
little and jumping around, Vayner Nation, is I’m
rolling with disrespect for Anthony, ’cause. It’s Anthony?
– [India] Mmhmm. Because it’s, it only
speaks to me not believing that you’re gonna solve the problem, to be very honest with you. It, it like, I have a bad
feeling in my stomach. Anthony, I love you, thank
you for supporting the show. I have no interest in dropping venom on Halloween here, but, um. Yes, that’s so like crazy to think about. There’s a million ways to monetize. If you actually bring value to people, even if you make people laugh
and escape their real life, you make tons of money. It’s called the entire
entertainment business. Right? Like, if you solve something tangible, like invent a car so we
don’t have to take horses, ya sell it. Like if you make something, sell something that’s a thing that makes thing better, you monetize by charging
for something that, I’m just. I don’t even wanna answer this question.
– [India] Sorry. This is crazy question. – [India] I’m sorry. – Again, the last part,
even if you don’t know how you’re gonna monetize it yet? – [India] If you don’t know yet know how you’re going to monetize it. – You’re gonna sell it! You’re gonna sell it. You’ve solved a problem, you’re gonna sell it! Either to a human, or
to a business that wants to sponsor the fact that we’ve
solved somebody’s problem, which is the height of value in humanity. – [India] Mmhmm. – Oh look, I created this potion that makes people feel better. How am I ever gonna make money? I mean, what the (bleep). I mean seriously, people. We’ve done this for 158 shows. Like, seriously. Ah! I wanna, I feel like I might,

“You don’t talk much about ad-blocking. “With more people doing
it, how will small and medium “publishers and blogs survive?” – They’ll survive by adjusting to the reality of the marketplace. There used to not be ads and they would make native content and soap operas integrated their products into the shows. The Ed Sullivan Show put a big fat car, a Lincoln town car that paid
for that entire show in it. And Alpo, or whatever that,
that’s Alpo’s dog food, right? Alpo used to bring out it’s, right? Used to bring out the
dog on the Today Show and eat the God damn Alpo
right in front of America. And so ads my friends are
just one way to monetize. I didn’t run ads on Wine Library TV all those years when everybody told me. I decided to get paid millions
of dollars to write a book, and to speak, and to
actually build an audience and monetize them differently instead of making nickels
and dimes on them. Nickels and dimes are cool. But you know what’s way better? Hundred dollars bills. I feel like that’s from the movie, right? I mean that’s what it is though. And so I’m laughing at everybody’s panic because I think lowest common denominator, average players are going to
get forced into being better. I actually think this is
going to motivate people to step up their game
and not just mail it in. And so I’m excited to just
watch smaller and large. You know, it’s way more, you know, it’s a funny question and I’m sure it’s coming from an entrepreneurial place. Big companies have a lot
more to lose than you. Like ad-blocking, listen. It’s all relative right? Like your 400 bucks,
their 40 million, fine. But like everybody’s equal in this. Everybody’s going to be disrupted. Not just small businesses
and small publishers. Big publishers that make
all their God damn money on banner ads and things of that nature have a real issue at hand and
I think it’s God damn great. Because what I think is actually happening is that it’s better for the end consumer. I mean it is not fun for me. Especially now that we’re
on full, I need it back. Sorry periscope. How are you guys doing. I’m just showing you DRock. Actually I’ll show you myself because you don’t want to look at DRock. Well they’d rather look at me. It’s the #AskGaryVee show DRock. You know, I forgot my thought
because I got mad at DRock. You know, because, got it. Because I don’t want to go to like ESPN.com and check a score and a big fat banner ad pops up and I got to X it and then I miss it and then I’m going to
something I don’t want and that costs me six seconds
and time is the asset. And so I really really think it’s great. I’m not talking about it because I’ve been talking about intrusive
advertising my whole life. This is just a continuation. It will get, Tivo, ad-blocking,
whatever comes next. Feedblocker. Like whatever it is,
it’s all going to happen. It’s all happening India. – It’s all happening, feel good?

How would you price
sponsorships for an episode of a show like #AskGaryVee? Would you go by
the number of views? By the number of sales they get? What do you think? Thanks Gary. – Yes. I think that there’s a
very simple answer to this. My big belief, when
you’re selling sponsorship to something new is you ask
for as much as possible. And I’m not kidding. You don’t know where your ceiling is. If you go by cpm’s and views you’re really in a tough spot because views and impressions
have been commoditized to such a level that you’ll
never hit enough scale. Most people are
gonna make four dollars on their show sponsorship
if they go that route. It’s the association,
notice I don’t run ads or sell sponsorship on this show and if I did, I would
expect substantial bank. Because not only,
it’s not about the 20, 30, 40, 50 thousand YouTube and 50, 60, 70, 80 thousand
Facebook imperssions and awareness and
all that nature. It’s about the brand association. I’m endorsing it by accepting it ’cause I’ve never
done it before. And so there’s an
extra value on that. So I think, the thing that
you really need to think about is if it’s a small
business, start up, you need to negotiate. There needs to be just a
price and you start high. If it’s a media buying agency, you’re already in trouble
because they’re looking to buy scale and they’re really looking
to commoditize your traffic and that is not gonna make
sense for 99.9% of the people listening and watching
this show and so my advice is to price it– and then the second
part of your question about the conversion of sales. You don’t wanna
be in direct response, conversion based
business either. What you wanna be is in the
brand association pricing, right. You can’t put a price on a
small business-oriented solution being a sponsor of this
show because they’re getting to entrepreneurs and
executives through this channel and there’s more depth than width. So I would price it as
high as humanly possible and let it land to where
the market actually says. I think one of the big mistakes
that a lot of my friends who watch this show and lot
of people that negotiate in general, they don’t
price accordingly because they ask
for what they want. And usually, you should
at least double or triple what you want to leave
room for the negotiation. Or, you know, a lot of times
you’re limiting your upside by not recognizing
that you missed or underpriced your value prop. – [Voiceover] Bunch of
Deckheads wants to know,