THIS IS NOT THE ‘RECORD’ BUSINESS.
Once upon a time, the music business was simple: the conﬁnes of the old record label system behind
talent + record label + plastic discs = dollars. and eagerly experimenting with new business
models and revenue strategies.
Over the past decade, however, digital and social
technology have exploded that formula. As the From some of the world's biggest performing acts
media landscape has fragmented, CD sales have to small indie bands, music creators are realizing
fallen off precipitously, and the backbone of the more than ever the future of their business hinges
record business—the ability to charge consumers on the relationship they have with their fans. In a
for access to music—has crumbled before our very Music 2.0 world, fans are not just consumers;
eyes. they are producers, participants, members,
promoters, and more. They—not any kind of discs
—are the lifeblood of the music industry.
Sheer copyright enforcement is no longer the path
to ﬁnancial success and professional longevity.
These days, artists all across the board are leaving Music, after all, is a social business.
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