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Archive for March, 2008

The Future of the Music Business

Thursday, March 6th, 2008

Times are changing and the way people get their music is changing, too. It has already drastically changed from ten years ago. Seth Godin, blogger, bestselling author, entrepreneur and agent of change has posted his recent talk to a gathering of music industry professionals on the future of the music business. He clearly illustrates the ‘then’ and ‘now’ of how people consume music and how the music industry dispenses it. It’s a good read and worth your time if you are interested in playing/selling music to the masses. You’ll be inspired.

Here’s an excerpt:

So, what’s next? And where do we go from here? I want to start by saying this really clearly. Music is not in trouble. I believe more people are listening to more music now than any time in the history of the world. Probably five times more than twenty years ago…that much! But, the music business is in trouble. And the reason the music business is in trouble is because remember all those pieces of good news?…every single one of them is not true anymore. Every. One. Now, if you want to, you can curse the fact the Solomon’s couldn’t figure out how to keep the tower going. You can curse the fact that it’s really easy to copy a CD. You can curse the fact that we don’t care about the American top 40. You can curse the fact that there isn’t top 40 radio that matters. What good is that going to do? Or, we could think about the fact that you have more momentum and more assets and more talented people than any body else. [And], at the very same time that people are listening to more music than ever before. That’s really cool. And, so when we think about transitions what we know is that timid trapeze artists are dead trapeze artists. And, that the only way you get from here to there is to just do it. Now, you might be wrong but the alternative is you WILL be wrong.

Read the whole talk at Seth’s blog. Or you can download a PDF transcript of his talk.