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Monday, June 23, 2008

The Music Business is Alive and Well at Bonnaroo

In a wonderful article in todays New York Times musicians discuss how the concert business is booming despite the purported troubles of the music industry.

Many of these performers describe how they drive audiences to their concerts using social networking and mp3 downloads.

Essentially, they succeed by leveraging the new rules of the digital economy: use the abundant goods (digital files) to drive a market for the scarce goods (performances, merchandise, personal interaction with the band).

As Joel Cummins of Umphreys McGee puts it:

“If we can break even on a recording, then the rest of the business will take care of itself. I think that the Internet gives us a way of getting connected with our fans. We get to make the kind of music we like — it’s definitely a little more complicated than just three chords and the truth — and use a long-tail business model to find and play for people who want to see what we can do live.”

This is no surprise: in a culture awash in music, more people than ever are interested in hearing if played live. If this trend continues, a difficult time for the “music industry” may turn out to be a great time for musicians.

posted by Digital Freedom Campaign # 2:32 PM

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Digital technologies allow everyone the freedom to be artists, innovators, producers and creators, and to listen, watch, and participate wherever, whenever and however they choose. That freedom must be protected and nurtured.