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Comments on: The future of the music industry http://www.tvhe.co.nz/2008/01/24/the-future-of-the-music-industry/ The Visible Hand in Economics Fri, 25 Jan 2008 22:44:46 +0000 hourly 1 https://wordpress.org/?v=6.9.4 By: Nat http://www.tvhe.co.nz/2008/01/24/the-future-of-the-music-industry/#comment-674 Fri, 25 Jan 2008 22:44:46 +0000 http://tvhe.wordpress.com/2008/01/24/the-future-of-the-music-industry/#comment-674 I thought you might be interested in this site
http://www.rcrdlbl.com

They offer free mp3 downloads from upcoming and established artists and make money by having sponsers such as NOKIA and PUMA.

I think there is a huge possibility that record labels as we know them will not exist in the near future, its so much easier for upcoming artists to promote themselves nowdays (eg Lilly Allen and Kid Sister through Myspace)

]]> By: Ed Zuccollo http://www.tvhe.co.nz/2008/01/24/the-future-of-the-music-industry/#comment-673 Fri, 25 Jan 2008 22:41:02 +0000 http://tvhe.wordpress.com/2008/01/24/the-future-of-the-music-industry/#comment-673 Interesting post, thanks for writing about this!
It is obvious that there is a need for change like you say, but what form will it take? I think that record companies need to treat this as a challenge, rather than an end to physical sales, and need to be very creative for CD sales to stop declining. CD sales will never die out completely because there is a certain culture associated with going out, buying a CD, and having the hard copy. This needs to be made more special and marketed as such so that digital buyers are missing out on something that they want – whether it be an attractive packaging (a CD I saw recently contained little cardboard cut-out animals, also the Tool album 10,000 Days has a pair of stereoscopic eyeglasses to view a series of images in 3D) or a limited edition freebie of some sort.
Die-hard fans of certain artists will almost always buy the CD, and sometimes hunt down the vinyl copy at collectable prices. This alone won’t make up enough sales though, maybe merchandise will play a bigger part? Not sure. CDs are still being bought at live shows too – after the show when people are in money-spending mode and amped they tend to buy them more readily I think.

Artists are promoting themselves more on MySpace and Facebook now, which is great for worldwide exposure (if you can be bothered spending enough time on it!) which you wouldn’t get otherwise. Playing live to people as much as possible is a great way to get yourselves out there too – but if labels aren’t giving good deals in reaction to the declining consumer market then the artist will need to put in all that work themselves to ensure they get exposure.

By the way – don’t forget to check out my MySpace and my funk band Harbour City Electric 😉

I’m tired now and need to make a bacon avocado tomato sandwich, so won’t start ranting about anything else just yet, although there is a lot.

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