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Topic: Newsweek Article: The Value of Music

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  1. #1

    Newsweek Article: The Value of Music

    Sat at the dentist yesterday reading an article in Newsweek on the vaule of music. Apparently the band Radiohead put their latest album out on their website with the caveat of "pay us if you want to". Apparently, quite a few people paid. THe average was around 5 bucks if I remember correctly. Still quite a few took it for free.

    The article went on to say that a lot of people do not feel they should pay for music and that, as we have experienced, the record industry is not the same as it once was. When Itunes started, Jobs insisted that songs be sold for under 1 dollar. One of the competitors, (Rhapsody I think), who also sold songs for a buck, had a 50% sale one month and their volume increased 6 fold. The writer of the article said that this proved that 1 dollar a song is still perceived as too high for the majority if people. Especially if you can find it for free two mouse clicks away.

    Kid Rock was having issues with the recording industry at one time and threatened to give away his album for free on the internet. This is an easy threat from a rich man who has "made it". I wonder if he'd be so quick to give his stuff away if he was a poor struggling musican trying to get a break.

    Years ago bands like Led Zepplin lost money touring but made up for it on record sales. This seems to be reversing now and I wonder if the days of royalties are slowly coming to an end? If people don't want to pay for music then is it valued as worthless?

    Any thoughts?

    Darren
    www.darrenpasdernick.com
    "Every time you play a wrong note God kills a kitten."

  2. #2

    Re: Newsweek Article: The Value of Music

    Music is only truly valueable when it is a ringtone.

    And that is the state we are in today. ;-)

  3. #3

    Re: Newsweek Article: The Value of Music

    Net providers, iPod and others hardware business people make a ton of money on the back of the creators. And still, stupid musicians and software makers should carry on their shoulders that huge economic activity without any protection.

    Who need 5 disk drives, ADSL connection, a 80 Gigs iPod, a Quad Core computer if not to play with the latest software game or stack thousands of songs ?

    People think music must be free because they already paid a lot for devices and services. On the other side the dealers are not responsible for the use of their devices.

    and the hack is right there. On both sides they can enjoy for free the sweatshop goodies.

    SergeD

  4. #4

    Re: Newsweek Article: The Value of Music

    IMO it simply comes down to understanding. Kids today (which is the entertainment industries primary market) do not understand the value of intellectual property, as they have grown up getting it for free; radio, TV, internet, etc. We need to educate them about the process of creating intellectual property, the costs involved, and the simple fact that without getting paid for their creations, people are not be able to create professionally.

  5. #5

    Re: Newsweek Article: The Value of Music

    Music has very little value today because there is too much access to supply and very little demand to pay. With one click, people can download thousands of songs. They are overdosed with music.

    The kids do not have to understand the value of intellectual property. People of all ages are downloading illegally. It is in our nature to take what we can. Only with strict laws (to create fear) and new technologies can we lower the illegal supply to increase the value. Trying to convince people that it is wrong to download music is a waste of time.

  6. #6

    Re: Newsweek Article: The Value of Music

    Quote Originally Posted by Serge
    Net providers, iPod and others hardware business people make a ton of money on the back of the creators. And still, stupid musicians and software makers should carry on their shoulders that huge economic activity without any protection.
    I'm going to disagree with you on part of that. One of the other trends that's happened in the music industry is that outlets like iTunes have allowed independent artists to flourish and actually make a living by selling music downloads. So, rather than get the $.09 per download (mechanical to be divvied up among all writers on a single song) that their label would hand out to them, if they own the rights to their music, they can walk away with as much as $.70 per .99 download, or $7.70 per 9.99 album download. I think that's pretty amazing! And the independent artist trend has also bled over into television and movies: because publishers and labels have charged near-extortion-like master and sync fees for so long, broadcasters aren't going to the heavy-hitters as often as they used to. Instead, they're turning to independent artists -- composers, songwriters, bands -- who can turn around a quick "yes" and who will charge a reasonable fee. Places like iTunes allow the discovery of those independents by music supervisors, directors and producers, and that starts a whole chain reaction of licensing opportunities. Careers can be built on that.

    So before you start to feel reaaaally bad for the record industry, ask yourself this question: how many times have you ever heard a major artist say, "I love my label. They do so much for me."

    Thanks for introducing such a great topic -- I'm going to look for that Newsweek article!

    Kerry
    Mr. Kerry Muzzey

  7. #7

    Re: Newsweek Article: The Value of Music

    Quote Originally Posted by dpasdernick
    If people don't want to pay for music then is it valued as worthless?

    Any thoughts?

    Darren
    If music is valued as worthless - then people dont want to pay for it.

    The market speaketh.

    To put it another way - there is a truth reflected in aggregate thought that you wont often discern in individual thought. A new generation of individuals may think that ringtone downloads are 'where its at' - but they're not passionate about it enough, at the market level, to bother handing over much cash for it.

  8. #8
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    Re: Newsweek Article: The Value of Music

    As I am in the preparation phase of launching a website where I want to sell some (project-specific) songs as downloads - this discussion is highly interesting for me. Actually I have not found the ideal solution of marketing my music online yet. But I believe that the CD is about to die and and I also believe that you do not need a publisher and a record label to sell a lot of downloads... As it was said before - the margins are much higher if you sell downloads and care for everything by yourself.

    I did not think about itunes as a channel to the customer before as I did not assume that they would list small independent acts (as I would call myself right now) but this is something I will consider now! - Does someone know what the prerequisites and important conditions are to get listed there?

    And on top - Do you have some good information at hand that could help me prevent falling onto my nose?

  9. #9
    Senior Member
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    Re: Newsweek Article: The Value of Music

    Music is undervalued because it is immaterial now. When it could be attached to a tape, record, or CD, and before the days when consumers had access to devices that can easily copy these forms of media, the materialism of the masses is what sold the physical media, so the artists could thrive.

    Now that the physical media is the chain of song->recording->digital data->web->computer->iPod->etc, the product itself is no longer considered a valuable commodity. The money is made on the media, and everyone thinks because the song is floating around the internet that they have the right to take it.

    On a related note, this is true of live performace as well. Any gigging musician know that in most cases, they are expected to damn near give it away. Often refusal will prompt the hiring of another act that will become party to the perpetuation of this horrid condition. Worse still, the venue, client etc, simply decides on a pirated mp3 playlist in lieu of live entertainment.

    What needs to happen is for music to completely disappear from the planet for just one day. If that could happen, people would learn it's value in just those 24 hours, I'm sure of it.

    As for a realistic solution, I'm kinda stuck. At least for one that has any air of positivity...

    Belbin

  10. #10

    Re: Newsweek Article: The Value of Music

    Quote Originally Posted by belbin

    What needs to happen is for music to completely disappear from the planet for just one day. If that could happen, people would learn it's value in just those 24 hours, I'm sure of it.

    Belbin
    Stop music for one year and the social life will collapse.

    Kerry,

    I don't point out specifically iTunes. My next Cd and Mp3 music will be offered on CdBaby site and it's a wonderful aspect of technology for music makers like us.

    And there is a part of solution somewhere. Mail has filters against spams. So why net providers could not have filters against warez sites activities?

    SergeD

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