Is It A Cold Day In Hell? Not Yet

Music Industry and Podcasting in the Wall Street JournalI’m not sure I’d say ‘the tide has turned’, but the music industry has finally started to take a small step into the world of podcasting according to yesterday’s Wall Street Journal.

The contention from the music brainiacs thus far has been that without a DRM, and no way to monetize podcasts which are essentially free to everyone, why should they even consider giving it away.

The reality is – what good does it do the music industry to keep tunes on the shelf other than to keep a legal department busy. I like what the EMI guy said.. basically admitting that the music industry’s strategy has failed young artists. I mean imagine the impact that a band’s music could have if given away in a podcast.

Looking at the ‘steps’ described in the WSJ, this seems like a ‘one-off’ to a degree. The music industry is still making a nice chunk of change by letting high profile advertisers spend their big, brand bucks for a couple of podcasts. Most podcasters can’t afford the same bill.

It seems to me that with the web, podcasting, 2.0, 3.0 etc… the world of copyright infringement and the way you monetize music is changing. Artists will need to find other ways to monetize their content.. I don’t know if it’s a Pay Pal “Donate Here” button or what, but music fans that love any group’s music will reward their favorite bands one way or another. Perhaps Creative Commons can show the way.

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January 3rd, 2007

Entry Filed under: Technology



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