http://blogs.chron.com/celebritybuzz/2010/06/radiohead_frontman_music_indus.html
I've been saying for a long time I think the big labels are irrelevant in today's "do it yourself" music market. I mean, why do you need them?
To pay for expensive recording studios? Nope. Artists can record their own material affordably these days.
The expense of producing CD's? Really? Does anybody even press CD's any more? I don't think I've walked into a "record store" and bought a CD in the last five years. Even for gifts, I send people electronic gift certificates to iTunes or Amazon.
To handle distribution? Hardly. Anybody can distribute his own material on the two biggest online markets, Amazon.com and iTunes, through services like TuneCore.
Here's the relevant portion of the article:
In an interview for a new high school textbook called The Rax Active Citizen Toolkit, which aims to inspire youngsters to become more politically literate, Yorke claims the music industry is on the verge of a major crisis and could collapse completely within "months".
He says, "It will be only a matter of time - months rather than years - before the music business establishment completely folds. (It will be) no great loss to the world."
Do I believe the labels and record companies will be out of business by Christmas? No, but I do think their time is short, and I blame them for their own demise, for refusing to see and adapt to the changing market. And now arguably, it's too late. They're headed straight for the iceberg.
They're sinking, that much is certain. The only question is how long they've got.
Bets, anyone?
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