With the advent of torrent sites, P2P sharing and legal streaming sites such as Spotify, Last fm and Pandora, the labels simply aren’t making money anymore.
In the ‘olden days’, when fans were happy to part with cash money for records, the labels had enough revenue to nurture new bands, spend a bit of time in the studio, develop talent for a long term career – think Bowie, Rolling Stones, U2. It is a ridiculous system, but in an industry that is at the mercy of fickle music lovers alongside vast production costs, it seems an unavoidable one. It has been said that about 8 out of 10 albums lose money, so it is the 2 out of 10 that hit the jackpot who have to bail out the losses of the other 8. The business model of a record label is a funny one. The thoughts of Rachel : Friend, erstwhile Music PR Bod, current Ukulele maestro and regular contributer to The Independent and The 405.
0 kommentar(er)
