Necessity Is the Mother of Invention!
"Necessity is the Mother of Invention!" Thus could one describe Michael Jackson's alternative path to RIAA lawsuits and threats of imprisonment from Congress. "I am speechless about the idea of putting music fans in jail for downloading music. It is wrong to illegally download, but the answer cannot be jail."
Clearly, the music industry faces enormous challenges as consumers and technology have rewritten the rules of the game. Thus the necessity to act tough and reign consumers back in through the law. But even were the industry successful in stemming the file sharing/CD burning phenomena, this is not likely to result in a commensurate rise in the music industry's fortunes. Remember that according to The NPD Group, the steepest decline in music purchases is not among file swapping teenagers but law-abiding consumers 36 in age and over, which constitute 45% of CD sales. This points to a more structural problem for which legislation will be insufficient.
In order for the music industry to join other entertainment sectors such as film and video games, they must learn, as those sectors did, to innovate in a manner to meet consumers changing expectations. Not only will radical innovation, as much at the business level as with technology, significantly expand the music industry's potential market, it will have the additional benefit of providing a true alternative to illicit file sharing. This is not to say that copyright owners should not protect and financially benefit from the value of their works, but it must be done intelligently. Consumers have shown that they have a far greater hunger for music than is reflected in Soundscan figures. Tapping into that underground market demands new ideas, new models and a new user experience, not more lawyers and technophobic legislation. As Michael reminds us: "It is the fans that drive the success of the music business; I wish this would not be forgotten."
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News Beat Directory
» [2017-11-21] Joint Statement By The Nordic Musicians' Unions And British Musicians' Union; Discussions On The Issue Of Gender Inequality, Sexism And Sexual Harassment, The Scale Of Which Had Been Highlighted By The Recent #metoo Campaign
» [2017-11-13] Women Make An Impact On The 2018 MPG Awards Shortlist; Nearly A Quarter Of Those Named This Year Are Female, Proving That Music Production Is No Longer A Bastion For The Boys
» [2017-11-13] The Nashville Musicians Sound Healthcare Plan Rolls Out; Sound Healthcare & Financial Announced The Formation Of A True Group Health Insurance Policy Plan For Musicians And Industry Professionals
» [2017-11-09] Streaming & Listening Diversity - Spotify Case Study; Will Artists Have An Easier Time Finding An Audience, Or Will Streaming Focus Global Attention On A Small Number Of Stars?
» [2017-11-09] Two-Sides Of Copyright Finance: Sound Royalties & Kobalt; Sound Royalties Unearths Millions In Undistributed Royalties While Kobalt Launches Fund To Invest In Music Copyright
» [2017-11-08] Career Moves: ROLI, Live Nation Sweden, Music Glue, BBR Music Group, Warner/Chappell Music Spain & Blue Night Soundscapes; ROLI Chief Creative Officer, Live Nation Sweden Managing Directors, Music Glue Global Head Of Business Development, BBR Music Group VP Of International, Warner/Chappell Music Spain Managing Director And Blue Night Director Of Music Clearance
» [2017-11-08] Europe's Digital Music Leaders Form Alliance; European Digital Music Companies Launch Of Digital Music Europe
» [2017-11-05] Pandora Subscriber Base Grows To Over 5 Million; Pandora Premium Paid Subscribers Cross The 1 Million Milestone In October 2017
» [2017-11-05] Hybrid Studios Announces Online Mastering Services; Engineers Billy Klein And Brian Frederick Spearhead New Online Mastering Effort Through OC Studio
» [2017-11-05] Music Industry Betting On VR & AR For New Revenue; The Music Industry Is Making An Early Bet On VR & AR To Create New Revenue Streams Across All Their Lines Of Business
» [2017-11-04] Sound Royalties Unearths Millions In Undistributed Royalties; Nearly $14 Million In Undistributed Royalties Has Been Found By Music-focused Finance Firm Sound Royalties
» [2017-11-02] MusicDish*China October China Label Music Releases And Charts; Several Tracks From October Releases Have Charted On Chinese Music Portal Kanjian ING Top 10 Weekly Chart
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