The Music Industry

It's something I've been paying attention to a lot recently. Most people that follow music even in the slightest know that record sales have declined massively since the advent of Napster (And a few could argue that the quality of what we're buying has gone down as well as originality - but that's for another time) and some artists are choosing to go independent of labels and release their music online, before you can even buy a physical copy in stores.

I can think of three bands that have done this so far:

*Radiohead - Their album "In Rainbows" was released with a "Pay Any Price" option for the album -from $0 to millions, if so you chose.

* Nine Inch Nails - "Ghosts I-IV" had the option of letting you download the first 9 tracks out of 36 for free, then had a myriad of options for purchasing the album in different formats and packaging. Then, in May, Reznor released "The Slip" as a completely free download - meaning you could get every song without any strings attached.

* Girl Talk - Released the album "Feed The Animals" with the same tactic as Radiohead - pay what you want. If you chose $0, you were asked to select from a list of options why you decided not to pay.

With the major record labels losing money faster than ever, it leaves me wondering what they will try next in order to keep their bank accounts from hitting zero. With so many new methods of cheaper and more efficient methods of distribution, will they resort to jacking up concert ticket prices? Or will they do what The Eagles did with "Long Road Out of Eden", and sign exclusive deals with large chain stores so that the music can only be purchased at those locations?

Releasing music for free through the internet can also offer up a benefit to more local, small-time bands and musicians. With the extra attention they get for going the free or pay any price route, there we always be people that are not fans but will download the music because of it's "price". The band is now reaching a wider audience, and is likely to gain more fans through curiosity. Of course, this is only an option for these bands and musicians if they feel they have a big enough fan base so that they can still make enough money from touring to continue recording and booking arenas.

Musicians make more money from touring than actual record sales, anyway. Source Considering that after the label gets their cut from a CD, and after packaging, promotion, and whatnot, there's not a whole lot left to be split between the actual performers, so obviously if you're paying $50 for a concert over $12 for a CD, you're definitely supporting the artist more than a CD. (Not that the extra revenue is bad)

All I can say for sure that I'm liking the future of the industry. The days where paying for music is mandatory seem to be coming to a close, and music will soon be more accessible to the masses than ever before.