Spotted on: Yahoo
2007 was an interesting year for the music business.? Music sales were up, and almost all of that boost came from digital downloads.? Physical sales took a whopping turn for the worse.? The AP asked a couple of industry-types what their take was, and here are some of the highlights:
“Big” Jon Platt, EMI: “…the problem, is that everyone is trying to fix the old model, and that’s obviously not working, so we need to build on a new model… The business itself has to get back into artist development…We just have to be creative in thinking of ways to grow an artist.”
50 Cent, Rap Superstar: “The actual record sales may be changing but people are actually getting the material the best way they can and coming out to see the show…When you have a record that doesn’t connect right away, if the company doesn’t have a passion behind an actual artist and feel like this kid is an actual star and support it, it’s just going to whither away.”
Michael McDonald, ATO Records: “The bottom line is if anyone had a simple answer, it would be in motion already…I do think music is as relevant and there’s more music out there than ever before…Everyone is looking for a solution, but the solution does not look like the music business has looked for the last 30 years.”
Mark Cuban, Sports Team Owner: “They sell music and they need to be everywhere and anywhere music generates revenue…their ultimate solution may be in reducing the price of CDs to under $5 across the board and building artists in order to monetize everywhere else.”
Bottom Line:? Even successful music business people are completely lost to what’s next.
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