Music goes Kabooooooomb

Radiohead release their new album online for free and ask you to decide its value. I like it. I am going to invoice some bands for my money back!!!!

Since reporting Monday that Nine Inch Nails had dumped its record label and was to offer future albums direct to the public, Oasis and Jamiroquai have also joined the move away from the record industry, but the biggest announcement of all is news today that Madonna has dumped 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.

Via techcrunch the orginal source

Andy Thompson commented

I worked for Live Nation at its “birth” and up until this summer, and can vouch for the fact that it definately is a concert promotion company with record label motivations. It already is the worlds largest concert promoter (don’t forget that the real dollars are made on artist’s live performances) and any other piece of the pie that the company can get ads a rediculous amount of value. Radiohead’s situation is different in that they now have the final decision in terms of record release, promotion, etc. Madonna is already a powerhouse, and now she will in all likelyhood earn a bigger share of the revenue than she would at a typical label, but all that changes is a different side of the business can earn make a bigger cut off of her success. Maybe this is the future: the touring/live promotion companies own the artist, and they earn their keep solely on dwindling album sales…

So again we are in the Starship Enterprise going boldly where no man has gine before, charting, navigating and mapping the new digital universe. But in a world of ubiquity, the most valuable asset is something other than the recorded content.

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