How to Disrupt the Music Industry: A Conversation with Jared Leto

Join Fast Company and Jared Leto on Thursday, May 24th at 3:30pm E.T. for a live chat with the Thirty Seconds to Mars frontman and leader in digital concert innovation

Photo: Benjamin Lowy

Jared Leto has a posse. In fact, they're so loyal they make him seem like a cult leader. There's the million or so who remember him as the actor in Fight Club, Requiem For A Dream, or even My So Called Life, way back when. A few million more know him as a bona fide rock star, the singer/guitarist in Thirty Seconds To Mars. To us, he's an innovator.

Having reinvented himself a few dozen times, he clearly feels the occasional need to destroy something beautiful. And it's his knack for creative destruction that earned him a spot as one of our 100 Most Creative People 2012. He joins us today to talk about the three businesses he's hatched, all of which have a shot at shaking up entertainment as we know it. The One & Only Golden Tickets is a Willy Wonka approach to online concerts, offering all access to digital VIPs. His digital ticketing business, VyRT, is the more like the general admission component--don't call either sophisticated service "streaming," though. On the artist side, he's forged The Hive, a powerful social media consultancy based on best practices he picked up with his own band and their rabid social followers.

Below is the transcript of Leto's live chat with Fast Company readers on May 24th.

3rd & 7 37yd

Welcome to our live chat with Jared. We'll turn it over to him now so he can get to as many questions as possible--mostly about his big ideas for shaking up the entertainment industry. Jared, all yours.

by Tyler Gray via mobile 5/24/2012 7:19:20 PM
Do you believe there is a place for new hybrid types of relationships between business and people, and between business and business, as well as between people?!

by Outcast 5/24/2012 7:27:28 PM
We're already at that place. The relationship between businesses and people has become a two-way conversation. Businesses used to have the supposed luxury of talking at people. Now if they're smart they know they need to talk with people.

by Jared Leto 5/24/2012 7:29:28 PM
Will VyRT be available for anyone who's interested in connecting with their fans?

by JessaG 5/24/2012 7:30:00 PM
We hope so.

by Jared Leto 5/24/2012 7:30:38 PM
how did you get the ideo for VyRT in the first place?

by Anna 5/24/2012 7:30:59 PM
The only solution to broadcast one of our shows was to go and beg for corporate sponsorship. There wasn't another option out there. So I started VyRT.

by Jared Leto 5/24/2012 7:31:52 PM
STEVE JOBS SAID THAT THE WORST THING THAT SOMEONE COULD DO IS TO THINK ABOUT TO MAKE A LOT OF MONEY WHEN THEY TRY TO DEVELOP A BUSINESS OR PREPARE STRATEGIES…HE SAID THAT THE MOST POWERFUL THING TO MAKE SOMETHING WORKS IS THE PASSION AND BELIEF OF YOUR IDEAS… HE SAID THAT HE HAD A GREAT NEED TO SHOW WHAT HE COULD ACHIEVE AND MAKE POSSIBLE THE IMPOSSIBLE…HE FELT THE PASSION TO CHANGE THE WORLD AND IMPACT OF A UNIQUE WAY, WHAT IS YOUR MAIN PASSION OR THE MOTOR FOR CREATE YOUR IDEAS?

by LIZ ALETHIA 5/24/2012 7:32:23 PM
Finding creative solutions for artists to share their work with audiences around the world. And in a bigger way, to enhance the quality of how we share our lives with one another. Because that's what it really is.

by Jared Leto 5/24/2012 7:34:09 PM
Jared's with us in the Fast Company office, answering your questions!

by Tyler Gray via mobile 5/24/2012 7:34:37 PM
Do you see yourself as a possible investor in music industry as a whole and not only to your own band? And how could your 3 businesses attract/affect other artists?

by Natalia 5/24/2012 7:38:28 PM
I'm always thinking of creative solutions to the problems that plague the music industry and if I can help in any way, I'm down to do that.

by Jared Leto 5/24/2012 7:39:36 PM
will VyRT have a role in the next tours? i mean there'll be some live parts of different gigs going on vyrt or it will remaing an extra for extra events?

by SissiMars 5/24/2012 7:40:27 PM
VyRT will definitely play a part in future tours or shows. We're really excited to use VyRT in ways that are less traditional.

by Jared Leto 5/24/2012 7:41:53 PM
I think the last VyRT is a good example of that.

by Jared Leto 5/24/2012 7:42:02 PM
Seems like all this started after your conflict with your record company. Seeing VyRT , The Hive and even GTs, kinda looks to me it could all take a shape and form into a digital , all-about-music , giving freedom to the artists record company . I get it's too early but could this be the case, an ultimate goal ?

by queen__vicky 5/24/2012 7:43:22 PM
There are still a lot of benefits to working with a traditional record company. The biggest being the talent of the people that work there. Having boots on the ground around the world is essential for a global band like Thirty Seconds To Mars. There's a lot of people we love at the label, and there's a lot about the system that needs to be fixed.

by Jared Leto 5/24/2012 7:45:08 PM
Back in the day, major entertainment companies used to repeatedly conduct lawsuits to block new technologies at the moment, including the VCR, Digital Audio Tape recorders, the first MP3 player, the ReplayTV PVR, and P2P software. Why did the industry used to be so hostile to new technologies, and what do you believe, Jared, has motivated a turn around on the industry's outlook? Or, are there still major honchos out there whom still maintain a pessimistic outlook on technology?

by Skye Marie 5/24/2012 7:46:16 PM
Fear.

by Jared Leto 5/24/2012 7:46:37 PM
I think these days people are starting to realize that incentivizing innovation rather than punishing it is probably a smart thing to do.

by Jared Leto 5/24/2012 7:47:19 PM
How do you keep focus and motivation when obstacles occure.

by Ania 5/24/2012 7:48:32 PM
Put one foot in front of the other. Keep marching forward, even when doubt, fear, and failure all come knocking at your door.

by Jared Leto 5/24/2012 7:49:18 PM
You're a huge inspiration to me and a few others, what's the biggest advice you can give?

by Dilan 5/24/2012 7:53:30 PM
Dream hard and work even harder.

by Jared Leto 5/24/2012 7:54:14 PM
What was the biggest obstacle you came across while developing VyRT?

by jenayfromMARS 5/24/2012 7:55:30 PM
We've had a lot of challenges. We've made a lot of mistakes. And those are blessings in disguise. They help us learn and do a better job for everyone.

by Jared Leto 5/24/2012 7:56:15 PM
For example, as many of you know we had a technical issue at the beginning of the last VyRT, which taught us a lot, and also I think it helped the rest of the VyRT be better than it would have had everything gone according to plan.

by Jared Leto 5/24/2012 7:57:08 PM
How did you come up with VyRT to name the whole thing? Did something inspire you and you came up with that name?

by DinosayrikMARS 5/24/2012 7:58:49 PM
It just came to me. I wanted a word that could be used both as a noun and a verb, and I also like the connection between "vertical" and "virtual."

by Jared Leto 5/24/2012 7:59:41 PM
#FCMostCreative @JaredLeto checks Twitter as he answers your questions live t.co #FCChat: t.co

by Fast Company via Instagr.am 5/24/2012 7:59:55 PM
what's you're favorite moment from VyRT ? would you change something ? and if yes what would that be ?

by Dimitra Giova 5/24/2012 8:00:19 PM
My favorite moments are always the surprises, whether it's the palm tree :-) Or the not-so-small fire that I started whilst attempting to make vegan pancakes.

by Jared Leto 5/24/2012 8:01:18 PM
What is your biggest source of inspiration?

by Marjo Mars 5/24/2012 8:01:36 PM
YOU

by Jared Leto 5/24/2012 8:01:47 PM
What is the next goal that you would like to reach about Vyrt? What would you add?

by Sara (OurCallToArms) 5/24/2012 8:02:31 PM
To improve the social, to make payment easier, quicker, and painless. And to start sharing VyRT with other artists.

by Jared Leto 5/24/2012 8:03:10 PM
WOULD YOU SAY THAT IT IS PIRACY THAT HAD THE BIGGEST IMPACT ON RECORD COMPANIES? OR JUST THE FACT THAT COMPANIES WEREN'T PREPARED AND WANTED TO KEEP THEIR MONOPOLY GOING ?

by JAYECHELONCARNERO 5/24/2012 8:04:41 PM
I think it's many things: Again, fear. A phenomenon called "grouping" that keeps positive outside influence from affecting a business. And technology, the way that we all consume and deliver music.

by Jared Leto 5/24/2012 8:06:51 PM
I THINK I LOVE YOU.

by Silvia 5/24/2012 8:07:00 PM
In the words of Michael Jackson: "I love you, too."

by Jared Leto 5/24/2012 8:07:34 PM
You always had a great connection with your fan base. Do you think the digital and multimedia are an advantage in that relationship?

by Eva 5/24/2012 8:07:46 PM
Being surrounded by dreamers and believers certainly helps make the impossible much more impossible. I think the Echelon understands that I'm always searching for creative solutions to problems.

by Jared Leto 5/24/2012 8:09:23 PM
We cracked 2,000 people here! Thanks to everyone so far for all the questions. This has been great.

by Jared Leto 5/24/2012 8:10:33 PM
if there were no VyRT what would be the other option or plan ?

by Isabel 5/24/2012 8:11:14 PM
There isn't one. That's why I started the company.

by Jared Leto 5/24/2012 8:12:01 PM
Are there any future plans for improving The Hive?

by amirataylor 5/24/2012 8:13:04 PM
We've taken on new clients both in and outside of the music business, and that's really exciting for us, because it teaches us a lot and we love to learn. It'll help us do a better job for Thirty Seconds To Mars.

by Jared Leto 5/24/2012 8:14:22 PM
how do you deal with enemies?

by DeadlyAngel_ 5/24/2012 8:15:30 PM
It depends on who they are. Sun Tzu said: If at all possible avoid the fight. I think that's pretty good advice.

by Jared Leto 5/24/2012 8:16:57 PM
What new technology most excites you?

by Jodi 5/24/2012 8:17:41 PM
Biotechnology. The ability to have organic elements to technology, and the way that we're going to engineer organic matter.

by Jared Leto 5/24/2012 8:18:41 PM
We have time for one more question... What's it going to be?

by Jared Leto 5/24/2012 8:19:09 PM
"What we're doing is disrupting the sponsorship model" says @JaredLeto #FCMostCreative t.co t.co

by Fast Company via Instagr.am 5/24/2012 8:19:25 PM
In what ways to you plan to brand your businesses? I assume you'd like to make VyRT, for example, a staple to digital live experiences, what are some things you plan to do to make that happen?

by Navit 5/24/2012 8:21:23 PM
Three things: Build out an unstoppable team; continue to improve the product itself; and share VyRT with other artists and audiences.

by Jared Leto 5/24/2012 8:22:43 PM
Thanks everyone. Any more thoughts, send them @jaredleto

by Jared Leto 5/24/2012 8:23:37 PM
Thanks to @fastcompany

by Jared Leto 5/24/2012 8:23:52 PM