Here’s an interesting article titled “Music Industry Inches Forward into Reality” which runs through how the Music Industry is slowly coming to terms with the inevitable market shifts and ever increasing popularity of online music. Lately, we’ve seen quite a surge in the number of innovative, social driven, music distribution companies supported by ads and sponsorships such as Guvera (the Che reference is revolutionary!) and RCRDLBL. There are also the monthly fee models such as Mog. Even Apple is trying to get a piece of the action with their recent acquisition of streaming music service LALA.
All in all good news for us EDMers. These market shifts are great for artists and really anyone involved in the creation of gigs. As more fans can access free music, the fan base inevitably grows which increases the demand for live shows and performances. Not to mention, these social based distribution services are giving fans an easy way to find new artists and expand their musical tastes.
In my opinion, the Electronic Dance Music industry is especially well positioned to be an innovation leader with the major focus on gigs and using the coolest technology to advance the music. What do you think?
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Tags: electronic dance music, Electronic Music, guvera, mog, music industry future, rcrdlbl
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[...] more promotional tools than ever before and navigating this sea of websites, social networks, music distribution channels, blogs and podcasts is simply overwhelming, at least for me it is. There’s no question [...]
nemo:
I find it so amusing that so many are pushing performances as the method for indie artists to make money. This is spoken by people that have never performed as indie artists. Clubowners are WORSE than labels. If they pay at all, they pay miserable amounts and generally do everything possible to lie their way out of paying bands. I have seen it again and again – clubowners just use bands as a way to drive traffic to the bar and make money off of them. Bands used to sell CDs, but “music should be free.” The internet community has decided that music is valueless and is just a “business card” to get people to shows, but again, who the hell other than Dave Matthews and the Eagles are making money at shows? And they also say, “Well they should sell merchandise to support themselves.” Well look at the MSI comment board on MySpace – tons of their “fans” hate them now because they sell merchandise, and say “Sell out albums, don’t sell out!!!” So basically, music is an unwinnable career. Cheers!
Cisco:
Nemo – Thanks for your insightful comment. We love to hear from our readers. As a response, I think that in general the internet has made a lot of industries struggle as their classic revenue models have been made obsolete. What I admire about the Music Industry is that it’s starting to come to terms with this and is now willing to adapt and look for alternative revenue models. I agree that live gigs may not be the solution for everyone but in my opinion it’s a step in the right direction. With all the talented, smart and passionate people that make up this industry, it’s inevitable that this industry will make it out alive and kicking.
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[...] a pretty good year for the music biz. We’ve covered some of the more recent trends such as an increased focus on the gig as new revenue stream, but a recent Nielsen SoundScan music trend report shows that digital music [...]
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[...] few weeks ago we blogged about the future of the music industry and the shift away from music sales as the main revenue source given the inevitable changes to the [...]
The Ticketmaster - Live Nation merger | GigLog - Gigsby Blog for Electronic Music Industry Professionals:
[...] cannot help but agree with some of their assertions: We also believe that the music industry is transforming and in some ways, it is going back to its performance-focused roots. For several decades, the [...]