What business model should the record industry follow?
musicismylife78
Posts: 6,116
No matter how much sticklers whine, the days of the record store, and people paying for 20 dollar cd's is over. Those days are never coming back.
I have said many times, when Napster broke the whole thing open in 1999 the record labels had many responses they could have prepared. The wisest one would have been to have downloads be a monthly charge, like utilities or the tv or phone bill. They could have sent out bills monthly, say, unlimited downloading for 10-20 bucks a month. Instead they started going after fans who downloaded, the fans who had collectively spent billions of dollars yearly buying their label rosters cd's.
So the question is, as the record industry no longer exists, what is the best business model the labels could come up with now?
Whats the smartest one?
Seems to me, there are bands that are already embracing the new times, Radiohead obviously. But Trent Reznor seems to be light years ahead of even them, or anyone in the music world in terms of what he envisions as a new industry of music. And it seems to me, what the future of the music industry will be, will most likely be seen and created by Trent
I have said many times, when Napster broke the whole thing open in 1999 the record labels had many responses they could have prepared. The wisest one would have been to have downloads be a monthly charge, like utilities or the tv or phone bill. They could have sent out bills monthly, say, unlimited downloading for 10-20 bucks a month. Instead they started going after fans who downloaded, the fans who had collectively spent billions of dollars yearly buying their label rosters cd's.
So the question is, as the record industry no longer exists, what is the best business model the labels could come up with now?
Whats the smartest one?
Seems to me, there are bands that are already embracing the new times, Radiohead obviously. But Trent Reznor seems to be light years ahead of even them, or anyone in the music world in terms of what he envisions as a new industry of music. And it seems to me, what the future of the music industry will be, will most likely be seen and created by Trent
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It took bands a while to figure out the real way to make money is to tour, Grateful Dead toured from 80 to 87 without ever releasing a studio album. So now it's 2009 and most bands in this day and age of technology just release their music direct from their website to download, I still like Lp's and Cd's and a lot of bands also offer those direct. The days of bands being signed by a record label are almost a thing of the past, bands find it more rewarding to try and strike out on their own without some label ripping them off, not promoting them properly or dropping them like a safe for the next "big thing" I for one am not nostalgic enough about the record labels and think they are getting what they have deserved for a long time now! The record industry should have been thinking about their business model 10 to 12 years ago, the ship has left the port already and it ain't coming back!
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Same thing is killing (or has killed, depending on your view) the newspaper industry. If newspapers had started charging a small fee for their online publications from the get-go, hardly anyone would have complained. The mindset would have been, okay.. I can either pay for the paper version and have it delivered or go pick it up somewhere, or I can pay a similar (perhaps cheaper) fee to read the same paper online. But the papers didn't do this, obviously, and a decade later there's certainly no turning back. RIP, newspapers. Record industry is next.
"Don't let it get you down, you know, still give your love, just give it away...I love singin' that part." - EV
It;s just like a speeding, just because you can do it and can get away with it most of the time, it doesn't mean that your invincable from the law.
Arts and Crafts has a good scene going now, but I still think people SHOULD buy CDs...
there's something about the artwork and feel of a released album that can't be matched with a digital release.
itunes is convenient and makes everything easier but I think you lose something in the process.
like how a bootleg or a video from a show in can't match the atmosphere or vibe of actually being at the show. its not that extreme, but still. there's a lot to be said for having something physical in your hands when you first sit down to listen to a new album. its all art, an expression of the band, for me its all good. I love all of that. its nothing a digital release can match, even if they release all of that when you buy the album online. its just not the same.
guess i'm old school but that's how i see it.
ideally the business model should completely cut out the record industry. big bands like pearl jam should be funding the smaller bands and helping them release their music. they fund it, the bands keep the profits, after costs are covered. completely organic. no capitalists involved.
or we can continue on this path and let the record execs DECIDE what we get to hear.