So last night we checked out the PACKED Sound CTRL Event held at Le Poisson Rouge in SoHo. It was packed and I can see why. While there where a few of us in the technology industry most of the audience was
music industry professionals trying to figure out exactly what happened to the music industry and how to fix the failing business model.
Omid Fatemi – Music Programmer, Microsoft Zune Marketplace
Nick Catchdubs – CEO, Fool’s Gold Records
Elliot Aronow – Co-Founder, RCRD LBL
Jeff Price – CEO, TuneCore
Jeff Tammes – SVP Lifestyle Marketing, Cornerstone
Chris Herche – Head of Online Marketing, E1 Music (formerly Koch Records)
We have to say that while all of these guys have great businesses and business models the music industry is dead. No one knows how to fix the failed business model and they are not going to figure it out anytime soon. There is no great hope that will bring the music industry back to what it was. What we will see is a lot of the old record labels hang on to old rules and do that they do best by promoting the hell out of big artist. Smaller/indie artist will be funded by their fans or by co-partnerships with other brands like Pepsi, Coke, or Reebok who have the money to sponsor music projects because music helps sale their business.
So if you are an artist and want to get into the music industry I say really just focus on doing your art and creating music that you like and doing live shows. Give your music away for free and sell t-shirts and concert tickets cause the music industry is DONE!
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