Seth Godin: Why The Record Industry Is Toast
“The record industry used to be perfect, perfect for a whole bunch of reasons. This is vinyl, if I love this record I listen to it a lot, i wear it out and have to buy a new one – it’s good for them.
If I loan this record to you then I don’t have it anymore, I have to buy a new one – that’s good for them. If I get in the car in 1974 and turn on the radio, all I hear is songs from records which are advertisements for me to go buy it. If I turn on the television when cable came out there’s mtv – nothing but commercials for records. If I go to the senior prom, it’s a celebration of music.
All of this works in their favour. Tower records, a store that exists to do nothing but sell music, they love the business. And then of course they made CDs and the whole thing fell apart. Music started to spread.
We don’t have a music shortage anymore, there is more music being listened to by more people than ever before, but the music industry is toast. Those people from the senior prom are now 60 years old, they’re not buying music anymore, the radio? Nobody really listens to it the way they used to anymore. All of these things conspire to make the music industry not very good, so what did they do? They sued us. That’s just not the right answer.”
Seth Godin at the NextGen Charity Conference
The ‘record industry’ – that old behemoth – may be dying, but music certainly isn’t. People are starting things to support new artists in a way the big guys aren’t, a new infrastructure is appearing – and it is damn exciting.
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