Few Answers at Digital Music Panel
ETC Editorial
A panel of music and tech experts gathered today at a Tech Policy Central event entitled, “Digital Music in the Digital Age: What Works, What Doesn’t Work, and Where Do We Go?”
There were several areas of consensus: while musicians must handle their own business affairs now more than ever, there is enormous potential for creative approaches. From Amanda Palmer’s famous Twitter following to services like TuneCore, there now exist unprecedented and myriad ways by which artists can promote their careers and manage their music. Second, forms of curation and tastemaking are more important than ever. Mixtapes, playlists, and trusted recommendation systems (think Facebook apps) will be a big part of the future.
It wasn’t all roses. Panelist Samantha Murphy lamented that large rights organizations like SoundExchange and Harry Fox don’t serve small artists, which Colin Rushing of SX disputed. He reported that SX pays out an average of $2,800 per artist and $14,000 per rightsholder annually, and pays over 10,000 different entities each quarter. While it’s unclear just how many artists can make a living combining new online business models with traditional revenue streams like SX, it’s clear that more artists are doing that today than ever before.
Several panelists argued with passion that giving music out for free actually functions to stimulate sales: “Free is the New Black,” declared Martin Atkins of TourSmart.
Sadly, the one thing on everyone’s mind is as unclear as ever: when will the subscription service Spotify make it to America? The excitement about Spotify is palpable. One panelist indicated that, in Sweden, Spotify now brings in more revenue for Sony and Universal than iTunes. Nevertheless, it’s not clear when this Holy Grail of subscription services will arrive – if ever.
