Where is the music industry going?
I’ve been hinting at a big venture I’ve been involved in and working hard on with my partner Roshena Huang for some time now, even though haven’t said much lately, but i’m ready to start talking more about it. It’s the relaunch of my record label, Pro Soul as a totally reinvented company… more on that later. First though, why exactly did we have to reinvent the company? Because the music industry is drastically changing as is more than evident these days.
So where is it going? Well, no one can really predict the future, so we can really only guess. As Andrew Dubber has said, Anyone who says that they know where the music industry is going is either a liar or a fool. Either way, ignore them.
We DO know what the future of the music industry WON’T be. The future will not be the past.
That means if you’re doing what you were doing ten or even five years ago, you are simply not relevant in the music business! If you are not undergoing an aggressive period of radical change, completely redesigning your business from scratch in this industry right now considering where things are going, then your in trouble, just like the big guys.
So that is what were doing with Pro Soul Alliance – aggressive, radical change and complete redesign. And it’s a lot of work, but it’s also very exciting and different, stay tuned!
Tags: Andrew Dubber, change, Linkedin, music business, music industry, Pro Soul, record label
October 22nd, 2008 at 12:57 am
Hmmm.
I don’t think I can answer where the music industry is going, but I could tell you what I want as a consumer.
I want it all. I want ALL MUSIC ONLINE accessible all the time. I want to feel I support the artists I like, and the artists I listen too.
I want to share music with my friends, artists, playlists, stories. without the guilt.
Some music I will pay for excitedly. Some out of duty. Most I don’t care, but happy if they are paid royalties for my listens. I want to be connected to my favourite artists, but not overwhelmed.
I might be interested in connecting my music consumption with a loyalty program like air miles. but don’t make it too complicated. Actually make it transparent to me.
After I listen to a royalty paying stream a bunch of times, I want to be able to download a copy for free if I like it.
October 23rd, 2008 at 1:43 am
Exactly, and many music consumers share your ideas about how they want to listen to and get music, but the majority of the traditional industry doesn’t seem to be listening, even 10 years after researchers have proven this is what consumers want.
In any industry, this would prove to be a fatal mistake. It’s even worse when you blame your customers for it and sue them! This is why things need to change in a massive way, from the ground up.
October 23rd, 2008 at 10:09 am
This is so exciting… let’s get the show on the road!
October 28th, 2008 at 10:25 am
Very true… the mood is certainly CHANGE these days, and that certainly applies to the music industry. I think every person involved in music should be thinking about how they’re changing their game… labels flip their business model, songwriters find new inspiration sources, working artists / bands embrace new ways to promote their music, successful bands find new ways of delivering their music to fans, fans obtain and listen to music in new ways….