Wednesday, September 05, 2007
The naked truth
Well, eventually someone from the recording industry, had the guts to admit a reality revelead on blogs since months: the recording business model is done.
Rick Rubin, the new co-chairman of Columbia Records, is the first man from the industry to face the reality.
His solution is to transform the way to purchase music: instead of buying a cd or download an mp3 and pay money for each purchase, the new model is based on a monthly subscription that allow to download a free number of tracks.
Apparently Columbia new model could look for additional revenue from live venues and merchandise.
Read on Cnet and on NYTimes
Sorry if I quote myself but I could have tell this to Columbia for definitely a smaller amount of money and few months ago.
Still the approach is questionable.
The real issue is that Recording industry must shift to Music industry.
Today a Recoding company launch an artist an get revenue from CDs and legal download, period.
Tomorrow, the Music company should sign an artist for his/her entire artistic life: CDs, Download, live venues, merchandising.
Until that day, Recording companies will be in the dark ages.