David Byrne Breaks Down New Business Models For Musicians; Confirms Radiohead's Success
from the changing-world dept
The second article is by Byrne himself, where he does a nice job breaking down the business models of the recording industry. Much of what he says will sound familiar to folks around here, though he adds in some interesting numbers concerning how much a musician makes per CD and per iTunes download (it's not much). He points out that the value proposition of a record label is decreasing rapidly as areas where they used to be needed (money for recording, promotion and distribution) are approaching free in cost, meaning the labels provide little, if any, value on those points. He then lists out what he believes are the six business models a musician can adopt these days, noting that it's nice to see more than just a single option. This highlights another point we've tried to make: the new business models for the music industry mean that there isn't just one business model for every musician. In fact, just about every successful new business model we see is slightly different -- though most pick up on some important economic cues. The one problem I have with Byrne's explanation is that it still mainly focuses on one thing: how do you sell the music itself. This comes even after he talks about how the idea of selling music is only a recent phenomenon, and historically, music was always tied to the performance itself. The less bands focus on "selling music" and the more they focus on using the music to sell other stuff, the faster a path to success will become clear.