Reznor’s experimental, web-only release of the new NIN album is so far
a success, scoring the band over $750,000 in just under three days —
and this is without the help of a record label.
Reznor has embraced new technologies and systems as opposed to fighting
them like the RIAA has tried this decade. This is perhaps the RIAA’s
greatest fear: artists discovering that a computer, a server, a
web-site, file-sharing, and some concerts makes the record label
obsolete.
>> bLORGE.COM
Gotshrimp>> Again this is a very interesting case, but will this still fly when all 50k releases a week are being distributed and packaged like this? The press coverage for this action is huge, but will declinbe the moment all artists will do it like this and will the numbers be as good? What it is teaching me is that record companies need to rethink their position in the market place and adapt to the new reality with a sound value proposition? We at IIP are talking about this all the time and come to the following conclusion:
1. Record companies need to become more service focussed, helping artists and bands to get their music and other productions out;
2. Record companies have a position in the eco system as filters, they filter the crab stuff out;
3. Record companies need to focus more on their ability to find talent, develop it and productize;
4. Record companies need to focus on marketing and promotion 'the new way' (what ever that may be ;-);
5. 360 models will only work if a record company can actually deliver.
It's all very interesting and who knows how the cookie will crumble in time, one thing is for sure the world is ready for a change.
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