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Industry Scoop

Industry Scoop: 10 Truths About the Modern Recording Industry

I’ve recently had several conversations with both artists and industry professionals about the usefulness of searching for a record deal in this current music climate. As of recent there has been a huge wave of artists choosing to remain independent while many successful indie artist are joining labels. What I believe is the determining factor is what situation bests understands the changing tide of the industry and how consumers choose and buy music.

A friend of mine said to me just yesterday, “I don’t like artists anymore I just like singles.”
Kyle Bylin over at HypeBot Wrote a Great Piece on the 10 Truths About the Modern Recording Industry
….what do you think?

1. The CD-Release Complex Is Dead.

The record industry built a huge economic engine around an idea of this system, and now it’s going away. The backbone of the record industry was that fans discovered music through the same mediums that major labels promoted new music. There are no specific delivery mechanisms for music and the symbiotic relationship between the audience and the record industry is now dead. The mediums that fans rely on for music aren’t ones that major labels can’t control.

2. The Music Consumption Is Broken.

The current music consumption system is optimized for a different era than the one we are living in today. The Internet has promoted ranges of social behavior the young and the digital which are incompatible not only with the old system, but with the assumptions that the record industry currently operates under.

In the digital age, there will be many different consumption systems, promoting evermore complex and different ranges of social behavior. The system has broken, for good.  And, by treating it as if still defines how fans consume music, we are only denying ourselves access to the ongoing redesign of the system.

3. The Barriers To Consumption Have Fallen.

In the span of about ten years, the proliferation of the personal computer; the shift from Dial-Up to high-speed Internet; the increased processing power and hard drive space in computers; the falling cost of media storage; the widespread use of CD burners; the social phenomenon of the iPod and iTunes; and the epidemic of file-sharing occurred.  And, with these societal and technological shifts, all of the barriers that defined music experiences of previous generations and the act of collecting it fell. Those who attempt to rebuild that barriers to music likely will fail.

4. Too Much Choice Decreases Satisfaction.

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