Power to the people, power to the people right on" - John Lennon
With all this talk about the music industry dying a slow and horrible death I wanted to put forward another view. I think that the music industry is actually evolving into an industry where people rule not record labels.
The music industry to me is not dying but evolving, and we (as either indie musicians and/or consumers) have the power to shape the end result of this evolutionary process.
I was watching a documentary today about the rise of Wal-Mart and how it had effectively changed the relationship between manufacturers and retailers. I found it very interesting and relevent.
It used to be that the manufacturer would determine what gets made and it was the retailers job to 'push' the item onto the consumer but now it is the retailer who are calling the shots, telling manufacturers what products are to be sold and 'pulling' them onto the shelves.
I see a parallel between the manufacturer/retailer relationship and the record label/consumer relationship.
Today the balance of power is with the people not with the record labels and the sales figures for CD's is a prime example of the effect that shift in power is having on their (the labels) bottom line.
I am an avid blog reader and one of the best blogs around that outlines this is Gerd Leonhard's "The Future Of Music" blog. I am wanting to get his book of the same title very soon.
One post that really caught my eye a post called "New Artist Model". It describes the future of indie music and the power that indie will have in the music business landscape by outlining what will be happening and what artists are going to be doing within that framework.
It outlines things such as:
- How anybody can now make and distribute a recording.
- How songs and recorded product are becoming less valuable (not in an artistic sense but in a consumerable sense).
- How personal connections with your fanbase will become more important than ever.
- The importance of street teams
- How new technologies are changing the way that the music business is approached
- Where the big money is coming from.
- The importance of an indie music artist or band to diversify their income
What does this mean for the indie music industry? One huge opportunity to embrace the changes and not fight against the inevitable.
Indie music is taking market share away from the mainstream everyday and the best thing is that it is we, the people that is enacting that powershift.
You can read the article "New Artist Model" here
Until next time,
Corey Stewart
Singer/Songwriter/Indie Musician
www.coreystewartonline.com
www.soultradermusic.com
www.theliarsbench.com
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