Rolling Stone’s Steve Knopper On The Rise And Fall Of The Music IndustrySteve Knopper is a reporter at Rolling Stone. He published a book this year called Appetite for Self Destruction about the meteoric rise and fall of the music industry.
I’ve posted a link below to a fascinating interview he did with NPR where he gives a grand sweep of the music industry from the advent of the CD to Napster, iTunes and today. One thing he says which I didn’t know is that the major labels initially resisted the introduction of the CD because it wasn’t a proven medium. Sounds familiar, doesn’t it?
Listen especially to the last five minutes where he talks about what the future holds for individual musicians. One word: Concerts.
He believes that these are the best of times for musicians because there are so many more outlets to get the word out. But he also implies that the days of mega-profits are gone for all but the most established acts.
Like everything else in life, a career in music is fundamentally about trade offs. Before, exclusivity meant high payoffs for those who got through the gates. Now, the gates are open to everyone. The law of supply and demand dictates that music will become one of the least lucrative career options now; but also one of the most fulfilling for those who do it right and do it with intense purpose; and for those who value artistic freedom and life purpose over windfall profits. Check out the Steve Knopper interview.
January 14th, 2010 at 12:29 am
Mika, this was a great interview, and it’s clear that the times of artists seeing huge sales is all but over. But it’s also true that with the advance of the Internet, that artists can now freely create and control their own brand now, and have a global audience, with potential customers(i.e. Sales) only a mouse-click away. The problem is that artists have yet to figure out how to take advantage of the technology, and changing business practices that you already see in Fortune 500 companies…and that’s OUTSOURCING.
Whether you need studio time, a new music video, graphics for your cd cover, etc…you can now find companies to service those needs within your budget, and you’re no longer limited to those local to you or in your network. I founded a website that I’m hoping to help solve some of these issues, and make those resources available to all musicians. When you have a chance, check out: digimusicbids.com. Think a combination of ebay.com & elance. I’d appreciate your feedback/critique. Thanks!
January 14th, 2010 at 10:24 pm
Mario,
Your site seems pretty well programmed. I’m wondering though, how is it different from an elance or guru.com? What would make a musician want to use you guys instead?