The start of the end for the Record Industry

According to reports, Madonna has signed a $120million deal with L.A. based concert promotion firm Live Nation to distribute three studio albums, promote concert tours, sell merchandise and license Madonna’s name.

Whilst the deal differs from Nine Inch Nails in that Madonna is not offering direct-to-public albums, Live Nation isn’t a record company. The deal shows that even for a world famous act, a record company is no longer required in the days of digital downloads and P2P music sharing.

The only real question now is how fast will the music industry model come tumbling down. When Radiohead led the way in offering their music directly to fans many predicted that the move was the beginning of the end; Madonna may well be the tipping point from where we will now see a flood of recording artists dumping record labels and where todays model will shortly become a footnote in Wikipedia.

Great news for the consumer, I wonder what it’ll mean for the RIAA when they have no record industry to ‘protect’. I think this is all very interesting and great to see people listening to what consumers want. with iTunes and Amazon selling DRM music I’m sure music will become more popular as a result and there will be money to be made for sure, but in a fair and just way for all, the consumer and the artist.

Jamie Thomas isn’t the reason why CD sales have slumped, let’s be real about this.

The rest of the story is here

2 thoughts on “The start of the end for the Record Industry

  1. Pingback: Modeling » The start of the end for the Record Industry

  2. the end of the record industry means that there is no one left to promote what is ‘cool.’ mtv relies on companies like atlantic and capitol to tell them what to market, but now it looks like it’ll go back to how it used to be; the best bands will be the ones who get attention.

    i don’t think it’ll be harder for bands to break through without the record industry. a lot of artists sign with independant labels, and we’ve all seen how myspace has helped launched the careers of several bands. it’s a very interesting time, for sure.

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