Music 1.0 is dead

[Jitway]

Five hundred top members of the music business gathered today in New York to hear that "music 1.0 is dead." Ted Cohen, a former EMI exec who used the phrase, opened the Digital Music Forum East by pleading with the industry to be wildly creative with new business models but not to "be desperate" during this transitional period. But what is music transitioning to? No one seemed quite sure, except to say that it won't look much like the music business of the last several decades.

 

Consider the statements that were made today without controversy:

 

* DRM on purchased music is dead

* A utility pricing model or flat-rate fee for music might be the way to go

* Ad-supported streaming music sites like iMeem are legitimate players

* Indie music accounts for upwards of 30 percent of music sales

* Napster isn't losing $70 million per quarter (and is breaking even)

* The music business is a bastion of creativity and experimentation

 

Only a few years ago, none of those statements would have been true, but perhaps none is more striking than the last. Panelists from every sector of the digital media marketplace were in agreement that the major labels, under the pressure of eroding profits, have been forced to become experimental in their business dealings and to do deals that would have been deemed too risky only months before.

 

Greg Scholl, boss of indie label The Orchard, pointed out that the music business is not just four companies, and that indie music's market share is now approaching one-third... and it's growing. Indies have also been more open, historically, to experiments such as selling music without DRM.

 

 

I found this very interesting in the fact that indie labels are now 30 percent of sales.

 

 

Read it HERE

[Robert]

I have no idea what Indie is.

[Jitway]

I have no idea what Indie is.

Robert Indie music means anything that is not a major label product. They are small independent labels. Usually privately owned by music groups themselves.

[Robert]

Ah, I thought it must have been another type of music, like hiphop or something.

[TempesT]

It may as well be, since most indie rock is, by definition, much better than any mainstream rock, or music in general.

[Inky]

indie labels have made up nearly 100% of my music purchases since the mid to late 90's. which is right around $0.00

 

I give my money to artists through merch and ticket sales. period.

[JKKDARK]

It may as well be, since most indie rock is, by definition, much better than any mainstream rock, or music in general.

But there are many Rock genres being played by indie Rock groups.

[Wizard]

It may as well be, since most indie rock is, by definition, much better than any mainstream rock, or music in general.

But there are many Rock genres being played by indie Rock groups.

It's like you saying "Alternative Rock" means one and the same, when theres many forms and varations on it.

[Lucandrake]

Finaly, some balls! Let's get crap rolling good again !

[Tynvar]

I think the whole corporation thing will be dead. A fat guy in Siberia with good music and internet access can take a big chunk of the business if it's creative enough. I believe the world should open to everyone's ideas and creativity. Not just big bucks.