R.S. covers the demise of the music biz
Tuesday, June 26th, 2007I think it’s a chilling omen for the major labels when Rolling Stone magazine does an in depth story about the collapse of the traditional music industry. R.S. has been a big label partner-in-crime for so long..things must really be bad. From their story posted here R.S. reports on the latest stats indicating the rapid erosion of those shiny plastic discs called “CD’s.” It’s a pretty gloomy story for retailers and labels like Capitol, EMI, etc…but I think most working musicians will cheer !Viva la revolution!
What R.S. doesn’t go into is that there hasn’t been a significant reactionary rise in digital sales (like itunes). You’d figure (or at least I would) that the rate of the CD’s decline would be conversly mirrored in digital downloads. Furthermore an article from the associated press states that sales of MP3 players have slowed indicating a market saturation. So one question is: how are people aquiring music these days? Another question is: how do musicians acheive success (being defined as making a decent living from creating music) given the collapse of the old “woo the record label” model? Rolling Stone has posted a companion article to their initial story which offers “what next” scenarios. All seem plausible to me. I just wish Nike, Estee Lauder or hell even Starbucks would decide to back Dirty Martini.


