Sunday, October 7, 2012

Article: The End Of The New Music Industry Transformation

Whatta piece over on Hypebot.  Great summation, this is an excerpt from the near-end.

Ex-TuneCore CEO Jeff Price: The End Of The New Music Industry Transformation - hypebot



Artists no longer need labels to record, manufacture, distribute, or gain access to media outlets.  The traditional music industry based on the concept of 'exploitation' of the artist is being replaced by an industry that serves the artist.  These new service entities provide value at fair prices while being innovative, transparent, accurate and fast.  Due to the fierce competition between these new music companies, it is the artist who now has the power as they get to determine which ones will survive. The culture gatekeepers from labels and media outlets no longer get to decide which artists and music the general population gets to listen to.  Instead, crowd sourcing is the new A&R.  All artists now have a shot. The only thing not changing is the hardest task of all: the creative challenge for the artist to create music that makes a personal and meaningful connection with the listener.

Music fans no longer need labels, retail stores and media outlets to pre-filter what pre-recorded music they get to hear and buy.  Instead, the general population has access to all music, makes it owns decisions as to what is 'good' and can buy individual songs.  In addition, fans no longer need to tether themselves to one device designed solely to play pre-recorded music.  Instead, they can buy a smart phone, tablet, etc that not only makes phone calls, takes pictures, texts and shows movies, but also includes on-demand access to an almost unlimited supply of music via ubiquitous cellular and WiFi networks.  There are now more people engaging and listening to music, and it will be available through all their devices, everywhere, at all times.

Despite these undeniable realities, the traditional labels are still attempting to prolong their control and revenue by operating as if the CD music industry world of 1995 still applied. The labels:

Sue music fans for copyright infringement . Create more onerous agreements between labels and artists requiring them to give up even more of their copyrights, not fewer (the infamous '360 deals') while providing less value. Use antiquated royalty accounting systems and provisions to slow down or reduce royalty payments owed. Stifle innovation under the guise of 'protecting' copyright (As one example, the majors made it a condition that they must own a piece of Spotify in order for Spotify to have access to their music). Killed artist development and long term careers in a mad dash attempt to make money as quickly as possible. Feed the media as much false information as possible (i.e. the entire music industry is dying) in an attempt to discredit, slow down and delegitimize the new emerging industry."

(Continued... Ex-TuneCore CEO Jeff Price: The End Of The New Music Industry Transformation - hypebot)

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