The Death of the Music Industry (as we know it)

I’ve previously written my opinions about the music industry, music consumers and the state of music industry.

I made a couple of bad statements and for that I am sorry. I said that “If more and more fans continue to trade music and don’t pay the artists, eventually all you will have is shit music on the radio and in the record store.” That is not entirely true.

What will happen is that the big record companies will continue to concentrate their efforts on a very short list of artisans. These record companies will continue to make the artisans create a certain style of music and the mainstream music business will continue down a stagnant state of being. The other “bad” side effect is that music companies will resort to a “here today, gone tomorrow” mentality with talent. This tactic involves signing a new artist to a deal in which the record company receives all the up-front benefits, promoting the artist, touring the artist into the ground, making as much money off the artist and then shelving the artist to eventually turn their resources to a newer “face.”

sethgodin You know, from my humble perspective, the problem is that America has become the land of “get rich quick” freaks in which public companies are only worried about next quarter returns and consumers are freaks for “latest and greatest.” This creates an environment of short sighted decision making and no long term value creation. Don’t believe me, tell me why America continues to carry a national debt in excess of 8 trillion dollars?

Now, I don’t want to come across as negative and bitter, because I am not. In a second I would work with a big label to promote the band I work with. I’d bite the bullet and do what would be necessary to have a few, even one big hit. You see, the marketing rules are changing slowly, but the big labels have such momentum and money and connections to get their music to the masses.

To be honest, we know that the road to success and fortune is not well paved. The road has a lot of turns and twists and pot holes that at times just knocks the hell out of you. But we know that belief in one’s own music, skills and the desire to produce a quality product will eventually lead to success.

The “Music Industry” will survive, abet it will go through a lot of changes over the next ten years. Human beings will never stop making music, NEVER. Most artisans want to create a great work of art above all else. Making a living from making a great work of art — well, that’s like a bonus. 

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Filed under All Posts, Business, Music

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