Ivor Novello Music awards 2021 held in London

The transcript discusses the significance of awards to artists, particularly songwriters, and highlights the importance of songs in the music industry. It includes insights from an interview with Ritchie about songwriting and emphasizes the need to celebrate and properly compensate songwriters. The foundational role of songs in entertainment is discussed, along with personal reflections on the courage of songwriters.

Why does the speaker consider receiving an award for songwriting so significant?

• It guarantees financial success.

• It is the only way to gain fame.

• It represents the highest recognition for baring one's soul through music.

• It is a rare event in the industry.

What is described as the 'currency' of the music business?

• Live performances

• Album covers

• Merchandise sales

• Songs

According to the speaker, why are songwriters rarely celebrated?

• They do not perform live.

• Their contributions are not well understood.

• They are not as creative as other artists.

• Their work is often overshadowed by performers.

What does the speaker suggest should happen in light of the music industry's large valuations?

• Reduce the number of awards.

• Invest more in live concerts.

• Focus on digital marketing.

• Share profits with songwriters.

What quality does the speaker attribute to songwriters who succeed despite challenges?

• Courage

• Fame

• Luck

• Wealth