Wednesday, 5 August 2009

There's more to the music industry than the record industry

Image representing RIAA, Recording Industry As...Image via CrunchBase

As bands are proving time and again, the future of the MUSIC industry can be forged without the RECORD industry.

Of course this must scare the living daylights out the RIAA who must know their paycheque is a few months away from being an historical footnote. I guess that's why they're suing so many people.

The NY Times recently ran an op-ed piece by Charlie Blow (you couldn't make some of these names up) which talks about the death throws of the music industry. However, as TechDirt rightly point out however, it's the obit on the recording industry that needs to be written, not the music industry. For the music industry, the evolution is only continuing.

Sales for the recording industry may be down due to piracy, access vs ownership and single track purchase vs albums, but bands are thriving, finding new and amazing ways to make money. From live albums available moments after the gig, to "pay what you like" payment models, to harnessing the money making power of Twitter, the symbiotic relationship of technology and music has never been closer.

While the RIAA is suing fans out of existence, the rest of the music world seems to be moving on. When they've blown the smoke from their lawsuit guns, ready for the next victim, the RIAA may find that not only has the last person left the room, but they've also turned out the lights.

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