on Nov 19th, 2007Is The Music Business Eating Itself Alive?
Much debate has risen over the years between music industry moguls and music connoisseurs about the decline in records sales and quality of music. On one side the music industry claims that downloading music has caused a decline in record sales. While music enthusiasts claim that it’s the continuous release of mediocre music that is losing the buying public. Who’s Right? Cases can be raised for both sides however it’s proven that in all businesses success is driven by product as it results in the trust of the consumer which leads to repeat business.
During the First Quarter of 2007 CD and DVD music sales were down 20%. Though music downloads contributed to some of the decline in sales most was caused by the consumer losing interest in a watered down industry. Most music fans insist that if they really like an artist or album they will buy it even if they can download it. But who wants to buy a CD for twenty bucks that has only one or two good songs? There was a time in music when an artist would release an album and from front to back it would be solid hit after potential hit. Think of the great Zeppelin records or the innovative sounds of Black Sabbath. These types of bands exist nowadays just not in the eyes of the mainstream public. Instead of good bands with musical integrity getting opportunities we are forced to live in an era of Reality TV and American Idol. These types of shows may be good for immediate PR and sales but long-term gains are virtually non-existent. Long-term success comes from giving the consumers what they truly want - value.
What a consumer wants a consumer gets as in the case of value. What’s more value than downloading music for free? It’s hard to understand the difference between copying music from friends before the internet era and downloading it for free nowadays. What’s all the fuss about? While the music business will take the ethical road and raise issues of copyrighting and stealing the true issue is control. Artists no longer need big labels to distribute and promote their music because they have myspace and social sites. Artists no longer need radio because they have Podcasts and Internet radio. Artists no longer need two hundred thousand dollars from labels to make records when they can buy their very own home studio for less then ten thousand. Perhaps that’s why big labels can only attract sub-par artists because good artists understand that they can do well on their own.
The on-going debate of music vs. the internet will probably carry forever as there will always be a point counter-point with copyright laws and human right issues. At the end of the day the music industry needs to stop pointing fingers. They control what they release, how they act and what they promote. The Music Business has become it’s own worst enemy and is eating itself alive.
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