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5 Ways to Save the Music Industry
From 10-cent downloads to videogames to ... Jack White -- there's still hope left.
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Is this the last waltz for the music biz?
The nostalgia for vinyl is up, but CD sales are in double-digit freefall. With every genre taking a hit, sales were down 20 percent in 2008 from the year before -- and that’s the seventh decline in the last eight years.
The once venerable “album” has basically become a thing of the past, as consumers, via iTunes, Amazon and the like, exercise their right to cherry-pick only the songs they want. File sharing is still taking a huge bite out of the profit pie, as fans prefer the nice but illegally downloaded price of free.
Even touring, which has thrived in recent years, took a dive this summer. Behemoth promoter Live Nation said sales were down as fans felt the recession pinch of soaring ticket prices.
It’s probably going to get worse before it gets better -- but here at TheWrap, the beat goes on, with a few suggestions that that might, just might, provide the blueprint for a brighter future.
Take a listen.
1. MAKE IT FREE ... OR ALMOST FREE
It’s hard to tell people -- even if you try to appeal to their law-abiding tendencies -- to pay for something they can easily get for free. The Recording Industry Association of America may be trying to scare consumers by pursing them in the courts for sharing songs online, with defendants like Jammie Thomas Rasset of Minnesota being ordered to pay $1.92 million for getting 24 songs off the Kazaa site … but that genie is just not getting back in the bottle anytime soon.
So, if you can’t beat ‘em or catch ‘em, seduce ‘em.
Presently iTunes sets the price for individual tracks at around 99 cents, which is cheap but not free. But what if the industry started selling tracks for less than 10 cents? And what if, using the proven successful market model of peer-to-peer services, they got the fans involved in the process -- rewarding them for passing new tunes on to friends and family?
So I recommend a track to you via text, you buy it for 10 cents, and I get a portion of that -- or something else like an iTouch, depending on how many tracks I help sell?
Sure, 10 cents isn’t 99 cents, and sure there are lots of people who’ll complain it is just more bloodletting -- but that’s because they act like it’s 1989 not 2009. Lower the price point, and you undercut the very foundation of illegal downloading. Think of all the people who will be overjoyed to be assured of tracks that sound good, don’t contain viruses and are what they say they are.
Think of all the music fans suddenly willing to participate in the process again? That’s billions and billions of dollars suddenly re-injected into the industry.
And you know what billions and billions are? That’s real money. Seriously.
2. THE WHITE GUY
Jack White is becoming not just the voice but the vehicle of his generation.
There are his three bands -- the White Stripes, the Raconteurs and the Dead Weather -- and his collaborations, with Alicia Keys for the last James Bond theme, with Rolling Stone Keith Richards.
He closed out the last “Late Night with Conan O’Brian.” He regularly sells out tours.
Comments
mckenna Says
The examples in this article are all for huge signed acts: NIN, Radiohead, Aerosmith, the Beatles, etc. Lesser-known indie-artists are rarely considered for video games, nor do they have the same massive audience that would account for a huge profit when selling downloads directly from their sites...but there are a few indie artists out there doing it! It would be more interesting for you to profile them, rather than the Beatles.
Joe Says
While the article made some good points overall (I especially like the incentive idea) I think it missed the elephant in the room: The death of the music industry may well prove to be the best thing for music.
Music is supposed to be a form of artistic expression, and art and capitalism don't make good bed-fellows. It only makes for lousy art. Forgoing creativity for uniformity, and abusing music fans, their customers, in the process. U2's multi-million dollar slap in the face to anyone who bought their album is a good example of the latter, while any band on commercial radio is probably a good example of the former.
Cochiserocks is right, a return to the days of bands making a modest living on touring is long overdue. With the help of independent radio stations, music blogs, and file sharing to build interest in the live shows. All the while developing their own unique sound. They won't have to appeal to the mass market, because they wont have to move 100,000 units or sell out stadium tours. The relationship between the internet and music, the fall of the music industry, and the rise in popularity of so many varied independent musical acts is no coincidence, and I say 'bring it on!'
Oh, and to JJ: The Edge isn't even fit to LISTEN to a White Stripes album. He and his bandmate Bono are two of the most overrated hacks in the history of the music industry.
zykeZero Says
JMusicFan, if it wasn't for the fact that I am reading this article at 1AM I would take my time to verbally thrash you. Because you are missing the point, 10c is better than nothing, because right now the music industry is getting 0% of all profits from P2P programs. And let me tell you 10c on billions of transfers means a lot more money than 0c on billions of transfers. I'd go on but I have more pressing matters to attend to.
Oh and recording studies/Major record companies inflate the price of recording. They could record for $50 bucks a song, or CD even. How hard would it be to make $50 bucks on one song, if not a CD, if you sold it to the flipping world. I swear you are the kind of person who is still thinking in 1989.
jmusicfan Says
Nice idea but there are so many holes... nay, chasms, that this article is as dumb as the labels.
Lower the price to $0.10 and you have to sell 10x as many songs... JUST TO BREAK EVEN! And breaking even means status quo, which is losing money.
Be Jack White or Radiohead. Brilliant. And I want to be A-Rod. No, I want to be Kobe. No, I want to be Tom Brady. Oh wait... talent... you have to have talent? YES. Those guys are successful b/c they're better than anyone else. And oh by the way, they became that way because of the promotional and distributional capabilities of those same major labels.
Cochiserocks Says
At least your thinking about it - not trying to lock down the world, punish kids and un-invent the wheel.
I think that what the music industry is going through is a long time coming. If you look at how many morons work in it, what percentage of the bands they invest in make any money or are even any good - you have to conclude that Sony, EMI, Universal, all of them;must work on the principle that if you chuck enough shit at a wall - some of it will stick.
I cannot think of another business which has been so amazingly crap at what they do - and now the gravy train ends...
About time...
My old band, Ghotti, gave and give their tunes away for free. Over 20,0000 downloads, over 30,0000 streams - paid our rent from gigs and getting the tunes used for TV and radio stuff. If your playing music for the money - you got no business playing it in the first place.
Simon Says
I think you missed the obvious (although you got close with point 1 - you just packaged it badly) and most likely solution to any of this - subscription. It will and already has happened.
1) You buy a new mobile phone/games console online subscription etc etc.
2) included in the sale is a 'download as much as you want' music subscription which Nokia/etc al have paid for an bundled into the deal to make you buy their phone
3) you download as much music as you want legally
Bands happy. Record companies happy-ish. Consumers happy. Illegal downloads usurped by the mobile phone.
And given that its estimated that the next generation of internet users may never own a PC - developing countries will all access the internet via a mobile phone - this is the obvious way to go.
At that point the concept of a single song or an album having a monatary value, will vanish.
Mark's Bud Says
Mark Says:
Hey, bud. Never miss an opportunity to let us all know you've read Ayn Rand and thus know nothing about capitalism. And what does this have to do with healthcare? Nothing, that's what.
Bob N. Says
While there are some bands putting out music (rare) on vinyl it is still more expensive to put out than an actual CD.
As far as the 10cents a song, I think they were just using that figure just for the sake of the article and not an actual price. Definitely slicing the price will help and it would have to meet a profit margin for both the artist and the publishing company. Really..lighten up Francisco!
jj Says
Jack White is an over-rated hack. 3 bands does not a legend make. The best thing he ever did was produce an album by Loretta Lynn - which the fan-boy author fails to mention.
White hardly belongs in the company of The Edge or Jimmy Page. White has done NOTHING that comes close to being comparable to either of them just TUNING a guitar, never mind PLAYING it.
Mark Says
Has anyone ever noticed that since the digital age, the quality of music suffered horribly? All of the Top 40 songs were made on someone's computer. There is no production value whatsoever. And what the hell is a "hollaback girl?"
Music is another part of capitalism. Take away its incentive, and the quality suffers. Much like the current healthcare legislation.
Francisco Says
I stop reading after your first idea. Music will NEVER be 10 cents. The statutory rate for a music publisher/songwriter is 9.1cents. That alone will make the record labels, and even iTunes lose more profit. Sine they have to share .9cents (not even a full penny). Do a little more research before saying, music should be 10cents. Maybe getting a reward for "promoting" or "selling" singles is a good idea, but not for 10 cents each.
nancybisno Says
I miss the vinlyler i grew up with the old records players