What are record companies doing right/wrong?

[TheVoiceless]

I was wondering what TB's take was on the record industry as it stands in 2010. I hear the horror story's. But is that because the industry is getting weaker or is it because the BIG WIGS are making bad decisions?

If you could would you start a label? And if you do own an indie label, do you think that something can be done to correct the downward spiral of the music industry/major labels?

How do you think this effects the music that is being produced? I always hear people say that they can't find a new band they like. Is that because the major outlets wont allow emerging artists to get heard or bands are not as good as the once were?

What do you like or dislike about the recording industry these days?

[Pilgrim]

A relevant work: Dirty Little Secrets of the Record Business: Why So Much Music You Hear Sucks, by my friend Hank Bordowitz.

http://www.amazon.com/Dirty-Little-S...6965935&sr=8-3

Record companies have turned music into a formulaic commodity - made it cheap and concentrated on nothing but volume sales. Their persecution of file-sharing is making their reputation much worse. They have dragged their feet and fought every effort to find new ways to market music - so musicians are going around them.

It's hard to think of what they are doing RIGHT.

[P. Aaron]

Originally Posted by Pilgrim

A relevant work: Dirty Little Secrets of the Record Business: Why So Much Music You Hear Sucks, by my friend Hank Bordowitz.

http://www.amazon.com/Dirty-Little-S...6965935&sr=8-3

Record companies have turned music into a formulaic commodity - made it cheap and concentrated on nothing but volume sales. Their persecution of file-sharing is making their reputation much worse. They have dragged their feet and fought every effort to find new ways to market music - so musicians are going around them.

It's hard to think of what they are doing RIGHT.

Record companies act like exclusive galleries...in which only certain acts are displayed. Radio has also experienced the same kind of devolution...which I think has reduced the numer of styles that we used to hear. With the rise in quality of home recording, many talented bands have been able to side-step the corporate labels, and that has chipped away at Big Recording Studio's bottom line. With more radio stations than ever...we have less and less diversity of styles.

I also agree that the incessant trendspotting by the labels trying to 'clone' other successful acts over & over again results in additional dullness. It's 2% milk in similar jugs with different labels.

Would Steely Dan have a chance these days? Dunno.

[StyleOverShow]

Expanding the discussion a bit, the internet has fragmented the market into such small units that Steely Dan might never attain its current market share.

I almost sprayed my windshield with coffee from the inside when the morning drive DJ's speaking of the relative success of Steely Dan's last album claimed that the sales reflected their audience, the 50 year olds, lack of understanding about downloading for free.

-richard

[Pilgrim]

Originally Posted by StyleOverShow

I almost sprayed my windshield with coffee from the inside when the morning drive DJ's speaking of the relative success of Steely Dan's last album claimed that the sales reflected their audience, the 50 year olds, lack of understanding about downloading for free.

-richard

That's definitely one of the snottiest things I have heard recently (age 59 here).

Of course, other than oldies stations and NPR, all radio stations basically ignore anyone over 35 or so.

[baalroo]

record label's biggest mistake has been fighting the new internet based paradigm that finding and listening to music is now based on.

a much more intelligent way at this point to run a label would be to create an amazing website with lots of great information about the sort of music that you and your label promote.

they would create communities similar to the one here at talkbass, but instead of revolving around bass guitars (obviously), they would revolve around the music and cultures that the bands they choose to represent identify closest with.

next they would simply give away ALL their bands music catalogs for free. I KNOW, that sounds crazy. here's the thing, it's already free. like it or not, it's free. if you create a product that can be easily reproduced PERFECTLY by any single person within your target demographic FOR FREE, then obviously whether you like it or not, you do not have a good product. If you intend to make money from that product, you HAVE CHOSEN A TERRIBLE PRODUCT.

here's the thing though, people pay for this sort of product all the time, take WATER for example. Why do people PAY for bottled water even though it's basically free, abundant, and readily available at all times? because it's a symbol of status and taste.

SO, since you've created a site centered around the symbols of status, style, and taste of your target demographic, and then made it EASIER and more interesting to download the bands music straight from your own site than it is to get it from what, demonoid, oink, waffles, megaupload, rapidshare, etc, etc, etc, you are now in prime position to SELL THEM items that represent and become symbolic of that status and lifestyle that they are looking for.

so, basically, OUT INTERNET THE INTERNET, or IOW, if you can't beat 'em, join 'em.

In the end the record label should be paying for all the things they used to pay for, but not on the scale they used to pay. you no longer have to spend 4 million dollars to make a hit track, kids do that not in their basement on their laptops. So, pay decent money to talented people to make their niche music in order to create a recognizable brand (IE your label) and use the label brand as a vehicle for sales of merchandise RELATING to the music... y'know the old "merch" of tshirts, stickers, and special clear red vinyl records.

or something like that