On August 1, 1981 MTV was launched and with it came a massive shift within the music industry, particularly on the sales and marketing front. Music Videos were now the central focus and method by which Record Labels would sell music to the ever consuming public. Revolution or evolution, a debatable subject, since music videos did exist prior to MTV’s inception but, to some point, were much more low key.
In 1997,
Radiohead’s ground breaking album,
“OK Computer” was launched. Its subject matter involved a world dehumanised by the rapid and constant growth of technology. Fast forward a decade later and isn’t this the world we live in today?
Mobile Phones, The Internet, iPods/MP3 players, Facebook, Myspace etc. Where once we all communicated, to some point verbally, today we seem to isolate ourselves, shielded by this form of technology and this very technology is responsible for the current huge paradigm shift within the music industry. Digital Music and the easy accessibility to it, via a portal called The Internet, has resulted in quick and easy access to music that can be downloaded and played on a MP3 player within minutes, so much more convenient and cheaper than going down to the local CD shop. This has also led to a monumental increase in record piracy, as not all of these music downloads are actually paid for. This poses many problems, the two most important being Musical Artists losing revenue and the record labels becoming obsolete or at very best expendable.
So what to do? Well, many of you would be aware of
Radiohead’s retaliation to this by releasing there latest album on the Internet and exclusively available on the bands Website, at a nominal fee, based on what the fan was prepared to pay. There have been many bands to follow this method, amazingly at the begrudging criticism of some artists like
KISS and
Moby…jealously or ignorance?, you be the judge.
So, what of the Record Labels, well they are also adapting, recently Myspace MkII was launched, a huge revamp on its old format where Record Labels such as Sony/BMG, Universal and Warner are actually investing in Myspace's new venture. With this new agreement, revenue generated from music downloads is divided up between Record Labels and their respective bands and artists. This format is by no means the only one currently evaluated, there are other online revenue based schemes out there but as
Prince said this is a ‘
Sign ‘O The Times’.
I think it's all early days yet but there is no doubt that record Labels and Artists alike, are taking this seriously and are doing what is required to ensure their ultimate survival…..Watch this space …..