The Emerging Music Industry
Just some thoughts, since that’s what i wanted this blog to be in the first place.
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Playing in a band and wanting to support myself through music leads me to reading a lot on the music industry. There’s no denying that the big labels are dying. The RIAA is slapping almost everyone with copyright infringement suits. The choice of music on TV (when music does play) and commercial radio is horribly bland and stagnant.
I just read an article over here. Of some things that struck me, one was that indy music accounts for 30% of sales in the US. I don’t know if I need to stress how amazing this is in an industry that is otherwise dominated by 4 major companies.
To me, 30% shows that the desire for fresh and new music is alive and greater than ever. People are jumping the ship and treading water to find the music that they like. 30% (and growing) is an indication that artist will now have more power over their business and music.
Being entry-level myself puts me in an advantageous position. Having nothing to lose, I can exploit these gains. I don’t need massive tours, buses, private jets, roadies, groupies, techies, lighting shows, etc. I can make up most of this stuff by myself. The downside is that I most likely won’t be able to afford a manager, lawyer, or accountant any time soon. One thing that sucks in being in a DIY band, is that someone has to be the manager or accountant. Rather than having equity and/or revenue from other sources, I must work a job to provide my band with the needed capitol to record and press CDs, make merch, and pay for a tour.
Another thought that struck me is the unwillingness of the major players to acclimate to the current environment. They are estimating that 10-20+ years will be needed to accommodate the new technology. I wonder the horse and carriage people demanded the same leeway?
By the time the dinosaurs acclimate to their new climate, I should wonder that they’ll be close to extinction. The one thing that they have going for them is their massive back catalog. This makes me wonder:
As the Fab Four further find their revenue shrink, will they cease to sign new acts and diverse acts? As this happens, will they further rely on their back catalog, specifically for merchandising, radio, or commercials? At what point will corporations quit licensing the back catalog due to prohibitive cost, influx of new music, and to link with the newer generations?
I predict (in my O so lofty manner), that it will spell the demise for the Big Four as we know them. They will be assimilated by upstart Indy labels. However, by that time, the damage will be done. We’ll have most of a generation that will have grown up without the pervasive exposure to Baby Boomer music. It’ll lose its value, seeming as quaint as big band, early jazz, early country, or marching band music. It’ll come to represent status quo more than any kind of youthful innovation.
At that moment, we’ll see the kind of music that will replace the rock and roll experiment.
