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Can big record labels survive the new digital age ?
Transcript of Can big record labels survive the new digital age ?
Internet as a platform for emerging independent artists
“Decreased barriers to entry on
the Internet allow consumers access
to more music than ever before"
- Brian Day
How music labels are still relevant and a significant part of the music industry
"Labels provide expertise in determining which songs and artist will appeal to specific groups of consumers and invest significantly to market and promote those selections."
- Brian Day
Music labels in the digital age
- Music sales peak in 1999
- 19% less music bought/downloaded in 2008 than in 2007
- CD sales decreased of 26%
- Digital purchase declined of 13%
- 2002-2006: decline of the major labels' revenue (11%)
- Richard Warr, Mark M.H. Goode, Is the music industry stuck between rock and a hard place? The role of the Internet and three possible scenarios, Journal of Retailing and Consumer Services, Volume 18, Issue 2, March 2011, Pages 126-131, ISSN 0969-6989, http://dx.doi.org/10.1016/j.jretconser.2010.12.008. (http://www.sciencedirect.com/science/article/pii/S0969698910001256)
- Sen, A. (2010). Music in the Digital Age: Musicians and Fans Around the World "Come Together" on the Net. Global Media Journal: American Edition, 9(16), 1-25. Retrieved on November 21, 2012 from www.web.ebscohost.com
- The Washington Post, "A Success to the Tune of $4 Million", July 12, 2009 from http://articles.washingtonpost.com/2009-07-12/news/36781081_1_smith-smiles-record-label-corey-smith
- Hammond, Robert G. (2013), “Prot Leak? Pre-Release File Sharing and the Music Industry”, from http://www4.ncsu.edu/~rghammon/Hammond_File_Sharing_Leak.pdf
- Vanessa Grigoriadis (2010), “Growing up Gaga”, New York Magazine, from http://nymag.com/arts/popmusic/features/65127/
- Anderson, Nate, “A brave new world: the music biz at the dawn of 2008” : http://arstechnica.com/features/2008/01/state-of-digital-music-2007/
“The biggest problem a band has is getting its music heard…”
- Greg Kot, music critic
What a label does :
- providing large funding
- living expenses
- recording budget
- tour support
- music video funding
- 1,5 million to promote a pop band
- 1 million to market a new rock act
Major labels are not fading away...
“Advances in Internet technology have made record labels more relevant than ever. It is doubtful that America’s musical heritage would have ever become fully available online – in a high-quality, mastered form at least – without labels hard work and investment."
- Brian Day
VS. RECORD LABELS
“The idea of an independent or indie artist is changing from the little guy to the maker of the market” - Abhijit Sen
- Do you think music labels are still relevant in this digital age or do you feel we could live without them as many critics have suggested?
- Because piracy and file sharing has become an uncontrollable
force, can you think of actions that can be taken
to minimize this issue?
- Stefani Germanotta -