zentronix: dubwise & hiphopcentric

Monday, January 13, 2003

Good portrait of the music industry in crisis here in the New York Times today.

I can't say I agree with the Wall Street suits, though. One way to understand the problems of the industry is as part of a backlash against some of the trends wrought by massive consolidation. Some of the symptoms, correctly pointed out here, are:

-high CD prices
-ridiculous marketing budgets
-fewer artists signed

Lowering CD prices make absolute sense, esp. in light of DVD and the fact that anyone can get CD blanks for less than a quarter a piece. Folks rightfully wonder how record companies can add $18 of value to that.

But, interestingly, the Wall Streeters are arguing for further consolidation--three major labels instead of five, even fewer artist signings. That's crazy. These things would have the effect of further cutting off avenues for new music. Indies--where every major movement in pop music has begun--already cannot sell more than 100,000 copies of their best records because the five labels own all the distribution. It would be like pouring concrete into the corpse.

The music industry has always survived cyclical downturns through musical and technological innovation. See most recently: punk in 1977, hip-hop in 1981 and 1993, the advent of CDs in the late 80s. In fact, they get punished when they go the other way. The music industry, such as it is, needs more flexibility, not less.

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