Recording industry couldn't adapt to the internet because >90% of their revenue was artificially inflated. $15 albums online won't kill Napster. iTunes/Spotify may, but that is almost as bad. Lesson: Bezos-style thin margins mean your rev model can't be used against you
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Regarding the music industry fixing prices: > Between 1995 and 2000 music companies ... artificially inflated prices of compact discs. ... It is estimated customers were overcharged by nearly $500 million and up to $5 per album https://en.wikipedia.org/wiki/CD_price_fixing …
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If you think the music industry was disrupted b/c didn't understand tech, you're wrong. They had 2 choices: • Try to kill small companies that facilitated unprecedented amounts of theft. Surely they won't get away with it, right? • Embrace tech; best case lose 80% of revenue
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i never see anyone saying this... but the albums aren't just some the record industry plot to make more money. musicians want to create albums like writers want to create novels. maybe some chapters are better received than others, but that doesn't negate the point of the novel
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Yeah that is true and that is how it started, but it was copy paste applied as a template for every artist for revenue reasons. Rap is a good example of it often being forced. Even if artists did all want to work this way, it still wasn't a good match for what consumers wantedpic.twitter.com/SmjVZET2O6
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This is still interesting too though if we take albums as an art form at face value. The music industry did embrace artistic taste/tradition a lot at the expense of listening to what people want. A similar example is talent scouts vs. analyzing demandpic.twitter.com/OTUi3XHZe0
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What book is that from?
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Where are you getting all of this?
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Jk. Just followed the thread and saw. Stoked to order this.
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Some screenshots are from a book, but I’ve just been diving deep on the music industry and file sharing for a month or so. So, a lot of sources then consolidating my takeaways
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Is that book a good read or just good information wise?
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How Music got Free is an awesome read. I bought it for the info and was blown away by the prose pretty quickly. See:https://twitter.com/backus/status/1006958023321870337 …
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This whole thread is gold. I remember the 95-00 scene like it was yesterday. Thanks for sharing!
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As a musician, I have given up on anything traditional in terms of the industry where you have two choices: be selfish and obsurd or have a hobby until you figure out business. I'm leaning towards curation markets/crowdfunding. Musicians shouldn't focus on business.
Thanks. Twitter will use this to make your timeline better. UndoUndo
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