Commentary
The Future of the Music Industry Is Now
- by Cory Treffiletti , Featured Contributor, February 11, 2009
This struck me while watching the Grammys this year. The award for Best Rap Album went to Lil Wayne. Wayne had the top-selling album of 2008, selling 2.88 million copies of "Tha Carter III," followed by Coldplay with 2.15 million. This is amazing in two distinct ways; first, because Lil Wayne built his reputation by giving away hundreds of hours of music through mix tapes and other online methods in order to establish a fan base, and followed it up with a whimsical array of beats and rhymes on a legitimate label release, netting the biggest, most ubiquitous album of the year. It's also amazing that for the very first time since tracking album sales started under the current model in 1991, the number-one album didn't clear 3 million copies.
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The biggest single first week album sales record goes to 'N Sync (don't laugh), as they sold 2.4 million copies of "No Strings Attached" during its first week in 2000, but since then the numbers have fallen across the board. All that being said, way back in 2000 the music business was just plain different. When you bought an album, you were more than likely buying it for one single song -- or maybe a couple -- and the rest was filler. Nowadays, with iTunes leading the way for digital downloads, most artists are happy enough to sell singles. Artists like Smashing Pumpkins have been releasing single songs rather than albums, and in some cases they're giving them away (much like Hyundai's recent giveaway of the Smashing Pumpkins song in its TV spot during the Super Bowl).
What has finally happened is that some artists, if not their labels, are waking up to the idea that the Web can be used to hone their craft, build a fan base and promote their music. Lil Wayne gave away hours and hours of material for free, proving his own prolific status as a maniacal musician and allowing anyone who wanted to hear him to get a taste of his style. In doing so, he also perfected his craft and became a better artist by weeding through the process in public and inviting his fans to come along for the ride! By the time he was ready to put out another proper release, he'd become the self-proclaimed "best rapper alive" -- a title than can certainly be argued, but at least he makes a case for it.
Other artists focus on standard Web sites like MySpace music or their own official sites to get out their music. If you're established enough, you can do it, but it takes time and it takes effort and it takes a lot of arguing with the suits that still represent the labels. Artists like Pearl Jam (I couldn't go an entire article on music without mentioning them) are talking about emulating Radiohead and releasing their own music through their own sites. These levels of artists don't need a label anymore. The fan base is large and they have the wherewithal to get it done, so why not go this route?
This leaves the labels and the industry itself flailing a bit and testing out every new model under the sun (which is a good thing). They are testing paid downloads, subscription services, ad-supported streaming, ad-supported and ad-integrated P2P download services -- and in so doing, they're rewriting the rules for the future.
The rules for the future of the music industry are astonishingly simple:
If the industry pays attention, it will survive, albeit in a slimmer, more efficient model than the fat-cat days of the 80s and early 90s. I'm pulling for it and so, probably, are you! Now go buy a song and stimulate the economy!
You make some excellent points. I think the record label industry will always be around in some form of another, as there will always be people who want to buy an entire album and see if they can discover new music. However, it's clear that the digital revolution has really changed the entire spin of the field. It seems as if the flux the industry has been in for the past few years isn't going to settle down anytime soon, and I wonder if eventually we'll emerge with one or two main sources of music for buyers, or will it continue to be spread out between CD, mp3, web, streaming, self-distribution, record labels, mix tapes, etc.? I will miss my CD booklets, though!
So close to leaving Pearl Jam out. Three paragraphs in and I thought you were home free.
Excellent points as usual. I'd only add one point - "The Industry" seems to be in denial that there will have to be a break up of "THE" industry into separate entities. There will be a "Music Industry" but the "Record Industry" is sounding the death rattle. If the labels didn't also own/run the old-school distribution channels, they'd be in a lot better shape today and wouldn't be fighting digital distribution with the same zeal.
Labels will still help develop artists. They'll still scout talent, front the costs to bring them into the studio, and market the output. But they'd be smart to focus on selling "music" in all of its forms and not shipping albums to stores.
Now about Ticketmaster and Live Nation..........
Corey alluded to this...
All I have to say about music (the industry of it anyway) this week is for the love of music please do not let artist management own venues. Block Ticketmaster Live Nation!
Pearl Jam are still sort of cool, they take chances. I think the coolest thing they've ever done was to release live albums of their whole tour. That was cool and daring. Most bands aren't good enough to do that because the quality of their show fluctuates night to night so I give PJ credit for that. Their fight against Ticketmaster was pretty cool too. Their music isn't what it used to be but their singles are still pretty strong.
For anyone looking for something a little more left of center might I recommend a podcast to ya'll: http://livingears.blogspot.com
We have over 20 Artists/Bands that have signed up with RealTVfilms to supply great music on our Pre and Post Productions. Great exposure for the musicians and please take a look at these case studies --
Matt Sorum ( Velvet Revolver Drummer )
http://www.realtvfilms.com/blog/?p=1078
Music by VAJA -- VAJA is now connected with Matt Sorum for life -- Not only does Matt like the interview but every fan on Facebook / MySpace / multiple distribution sites get the "VAJA" Brand-
#2 - Billy Bob Thornton
http://www.realtvfilms.com/blog/?p=1179
We all know Billy Bob Thornton as the Famous Actor -- And now this Interview is about his Music and featuring his band "The Boxmasters" on the Pre and Post -
Enjoy
Gordon@RealTVfilms.com
Agreed --the web as a distribution channel is actually back to the future in several important ways.
The first is the accent on singles. Since the advent of FM radio, it's been about the album. Once even further back, it wasn't. The idea was to release a single, see how it did. If it did well, release another single, building on the first. Finally, when a fanbase had been established and a style evolved, an album release followed.
The second is the record industry has always, and will continue to, advance on the basis of good content. Good content, that is, defined not just by musicianship and craft, but by having something interesting, or God forbid, important to say. We haven't had that in a while and the music industry sales have certainly reflected it. However, with more musicians than ever before taking control of the writing and production of their work, some glimmers of light may be starting to appear the end of that tunnel.
The third is something with which I heartily agree, and has been obvious since music became an industry. Shaping artists takes time. There is a reason Michelangelo wasn't held to a deadline of two months. Unfortunately, there is a tendency for digital production and online distribution to accelerate the desire to make music faster. On the other hand, most artists eventually come the realization that just mindlessly spinning off tune after tune doesn't work.
Releasing a tune, seeing how it is received, getting feedback, building ties with audience and industry folks alike, then going back and putting what has been learned into the next effort is what produces results. Just like it did back in the day when singles ruled, songs were more than American Idolized fluff and the future did, indeed, look more like now than anything else.