Back in 2003, we lamented the industry’s missed opportunity to Coopt Napster into a viable industry business model. The Grokster decision represents another chance at our proposed cooption.
Wanna know how smart the recording industry is? Don’t answer, just watch how they respond to the MGM v Grokster.
If industry insiders had any savvy, they would revisit our past Napster Cooption Business Model. Use the technology as a promotional tool. Turn it into a modern, on-demand, web-based radio. Put out low-fi mp3s (96k or so) as way to expose new artists, promote special releases, rarities, etc. whet people’s appetites for more content which history teaches us they are willing to pay for.
Jiu Jitsu the concept of piracy into a terrific tool for the industry to track, more precisely than anything else before, what artists and songs are attracting which listeners, and where. Custom tailor tours around it, marketing and advertising campaigns, etc.
Create the holy grail of algorithms: Use it to roll out new music, artists and content via our clever algorithm that can tell, based upon what you have already downloaded, what you may like, will like and will definitely fall in love with.
Turn the recording industry from an asteroid doomed dinosaur to a warm blooded furry mammal. Coopt the technology. Embrace people’s love of digital music. Be smarter business people.
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<sigh> Or not . . .
Barry Ritholtz on the Supreme Court’s File Sharing Decisions
As soon at the Supreme Court rulings came out, I knew where to look for some good commentary. Barry Ritholtz has repeatedly exposed the incompetence and lack of foresight of music executives. Now he’s got several interesting pieces on the…
Barry Ritholtz on the Supreme Court’s File Sharing Decisions
As soon at the Supreme Court rulings came out, I knew where to look for some good commentary. Barry Ritholtz has repeatedly exposed the incompetence and lack of foresight of music executives. Now he’s got several interesting pieces on the…
This sums up nicely what would make me spend a lot of money on music again. When Napster was free and I was a thieving juvenile, I spent more money on music than at any other time. I bought it because I wanted the liner notes and a nice clean rip at a higher bit rate. I buy very little comparatively now. Your idea won’t happen however until revenues are more seriously impacted at these companies.
You may be correct — unless someone else comes along and teaches these folks how to do it right . . .
BTW, I never spent as much on CDs as I did during the golden age of Napster.