How To Save The Music Industry

from the is-it-possible-at-this-point? dept

Jimmy Guterman over at Business 2.0 (who knows a bit about the music industry…) has written his latest column telling the music industry how to save itself. His suggestions boil down to exactly what so many people have been saying for a few years now: embrace the technology, you imbeciles! Specifically, he has a three part strategy: (1) reduce CD prices (2) forget copy protection and (3) buy Kazaa. I think the concept is right on, but there are still a few missing elements. Just doing those three points doesn’t save the “industry”. They then need to take the concept of freely distributable music and realize that it opens up amazing new opportunities for them to make money. That’s a bigger step. As I’ve said in the past, I wonder if it’s too late for the established music industry to make the move. I think they’ve missed the window. Of course, a new music industry will rise out of the old one’s ashes – and they’ll embrace the technology. At this point, it barely matters if the “old” industry decides to change or not. It will happen with or without them.

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Comments on “How To Save The Music Industry”

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thecaptain says:

therein lies the problem

“”They then need to take the concept of freely distributable music and realize that it opens up amazing new opportunities for them to make money”

I think this point is the biggest difference in perception and (to me) the biggest example of the “industry”‘s greed.

There’s almost no doubt that by doing all this the industry will make money…but I think in THEIR minds, the industry will NOT make AS MUCH money. The thought process from the exec point of view is this: “If I implement this I won’t make a 50% profit next year, only 30% profit…so I’ll LOSE 20%…ouch! I’ll be losing MONEY!!!”
(The percentages are pulled out of my *ss and not indicative of real finance stats).

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