"Innovation is key. The music industry has adapted to new technological developments for music distribution at an alarmingly slow rate, but more worryingly, mindsets have remained stagnant."

"The music industry is in a yearly 10%+ decline. At the same time, people are listening to more music than ever, by a wider variety of artists. That is extremely positive, but the industry needs to find new ways to create revenue. Just selling CDs won't work. That is why innovation is key for the music industry."

"The music industry is finally seeing the Web as an opportunity more than a threat. Social software and devices such as the iPhone create new, extraordinary opportunities to innovate."

"Reaching listeners today means constantly innovating in terms of the ways in which music is experienced. Music discovery, listening and interaction patterns are ever-changing; it will never be a static landscape again. Therefore, innovation is key."

"While we know the pre-Internet music business is fading away, we don't yet know what the future business will look like. Only by being open to innovation and connecting artists and fans in new, more efficient ways will we find the future."

"The way that listeners worldwide want to interact and consume music has been rapidly changing for the past 10 years. To make sure that we can support the work of future generations of musicians, we must innovate to create new dimensions of value in a world where most music can be accessed and heard free of charge, and copyright has limited meaning, despite our best efforts."