03/06

Seth Godin on the future of the Music Business

SethgodinHere’s Seth Godin’s dynamite take on what the music industry needs to do to heal itself.

I recommend you read this for yourself because it’s rather long, but what Seth is essentially saying is the salvation of the music business is in becoming a different business altogether, since the “business” of music has been completely transformed by the Internet.

If you read between the lines, what Seth’s also saying is that if the music industry doesn’t step up to transform itself then various other entities from outside the music business will – entities with more techno-savvy and a dramatically greater tolerance for risk and innovation.

The music industry should become managers of tribes, says Seth.

Hmmm. Can you think of a different industry that caters to tribes of music interest delineated by artists and genres?

That wouldn’t be radio, would it?

Granted, the radio industry probably lacks the gumption to become the “new music business.” But broadcasters would be wise to read this single sentence from Seth’s talk, which I will happily remove from its context:

“I think the Internet is the new radio.”

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  • George

    “I think the Internet is the new radio.”
    I think the cell phone is the new radio.
    Esecially one that can pick up the internet.
    But the device itself is becoming as ubiquitous as the radio. The problem is the cell companies are stupider than radio and records together.

  • http://www.masonvoice.com Dave Mason

    The internet changed the music business when Napster arrived. Now it’s Limewire, Bittorrant and all of the other FREE services chewing up the business. There are too many moles in this lawn to be eradicated -so Mr. Music Businessman, quit fighting them. JOIN ‘EM. Once EMI and the like start selling ad space on their free download sites, they’ll see. And the music business (with all of it’s intelligence) would be the best positioned to find the “tribes” with similar music interests to program their OWN “stations” that would appeal to the consumer. I won’t download a song I don’t know. I’ll LISTEN to something with new music that’s similar to what I KNOW I like. . . but it’s still the familiar that works. There will always be tribes. The smart people will start finding the largest, and be the most successful.

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