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The Album Again... More Thoughts
June 4, 2010
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"But at the end of the day, most artists I know -- pretty well all the artists that I know -- their dream, their oil painting, is an album."
-- (Then) EMI Music North America CEO, David Munns, in an interview on Cnet.com in November 2006Some facts:
- Digital song downloads are selling big numbers
- Ringtones are providing a respectable ancillary revenue stream (A few billion dollars globally)
- Many albums debut in the Top 20 on Billboard's 'Top 200 Album Chart' and then fall out fast, week after week
- The Top 10 albums in the country sold less than 400,000 units in combined sales this week
- People buy the 'Now That's What I Call Music' collections in bigger quantity than many artists' albums
- People buy "Glee" soundtracks more than many they buy the original music from most of the original artists who created it (Nothing wrong with selling the soundtracks, but think about it)
- Concert ticket sales are expected to be off significantly this summer, except for those few artists (like Lady GaGa) who sell lots of albums
Back in February 2004 in the newsletter I wrote, "The type of artists who sing real songs, create lasting melodies, and create the types of albums people will buy long after they're off the radio, are the same artists that people still talk about today and who many still buy music from. One need only look at the "Top Pop Catalog Albums" in Billboard to see exactly those qualities inherent on the albums listed there regardless of how old they are. Does anyone really believe that in a few years we'll see "Top Pop Catalog" albums by 95% of the artists we see today on MTV or hear on radio? Trends are okay and have always been a part of the entertainment business, but when the industry makes trends the business model and doesn't pay attention to the long-term, they risk losing audience."
I think the above facts are evidence much of the industry's problems are related to: a) a lack of great artists making great albums; b) a lack of great artists who can make great album after great album.
Yeah, I know. It's not that easy for an artist to consistently produce a great album every time out. Then again, all one need do is look at those artists who did and were able to produce REAL catalogs: The Beatles; Rolling Stones; The Eagles; Bob Dylan; Billy Joel; Elton John; Michael Jackson; Bruce Springsteen; Pink Floyd; Fleetwood Mac; Bob Seger; Tom Petty; Paul Simon; Stevie Wonder; etc.
Sure, "it was a different time." If just half the number of those types of artists were making albums today, the Billboard Top 20 wouldn't have titles bouncing in and out like rubber balls every week. (Then again, with all the late-night talk shows on-the-air, what would they put on for their "hottest new musical guest"?)
When artists do make those great albums (Taylor Swift, Lady GaGa, Lady Antebellum, Zac Brown Band, Beyonce, Carrie Underwood, Alicia Keys, etc.), they usually end up selling multi-platinum and their concerts are usually sold out.
So, the old adage "garbage in equals garbage out" seems to be holding true for a whole lot of music out there today. Don't get me wrong; there's nothing wrong from selling and making money on garbage. But garbage is meant to be thrown away, and that's what consumers do with a lot of the tracks they buy. On their iPods today, gone tomorrow for the next flavor-of-the-month. Consumers have clearly voted for buying tracks/singles over albums because the great majority of albums released are not worth spending $10 on when they only have one or two good songs on them. But many more still steal those one or two songs and don't pay for them. So, it's also significant to point out that albums that do sell multi-platinum, are doing so in a time when illegal file-sharing/downloading is still rampant.
Different times or not, all the biggest album events helped shape the music industry. They were created by people who took risks, who were committed in their beliefs that the public would buy and listen to and buy great albums in great quantities if they were exposed to them.
Different times or not, the consumers have spoken with their dollars at retail. They ARE buying albums in big quantities. Good albums.
One multi-Platinum album for any label in these times is good news and adds significant revenues to the bottom line.
One multi-Platinum album by a new and exciting artist like Taylor Swift or Lady Gaga gets people back into the habit of BUYING music.
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THE 'A-SIDE' - TRACK 2
THE INTERNET BUMPS TRADE PUBLICATIONS
According to the recent Starch Information Sources Study, sponsored by The Canadian Business Press to measure the effectiveness of specialized business publications versus other information sources, the Internet has become the disrupter among the major trade publications in virtually every industry sector. And, recognizing that Canada is generally a microcosm of the U.S. marketplace, it is hoped that the data developed in this study bear a relationship to trends in the U.S. to assist in market and media planning.
The study included combined unduplicated circulation of the 58 major individual publications serving the seven industry sectors of Manufacturing, Retail, Automotive & Trucking, Information Technology, Resources & Construction, Agriculture and Travel/Tourism. The research shows that the B2B industry is still ranked in the top two of information sources, falling just behind the internet in five of the seven sectors.
You can read the report here: http://tinyurl.com/242g3ch
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THE 'A-SIDE' - TRACK 3
THE RECORD: CONTEMPORARY ART & VINYL
From Duke University's Nasher Museum of Art comes their exhibition "The Record."
From their website: "'The Record' explores the intersection between visual art and music, considering the vinyl record as a lens through which to view the world. Powerfully marked with nostalgia, linked to the search for musical and cultural authenticity, and valued for its listening quality and cover visuals, the record has long been both a significant source of inspiration and material for artistic production. Indeed, for many contemporary artists, the specter of the vinyl record looms large, taking on a power and significance that moves well beyond the medium's traditional use, and thoroughly into a space of innovative artistic production. The exhibition will explore the impact of the medium on both art and popular culture and the ways in which the record has been manipulated, preserved and transformed through art."
The exhibition will run September 2nd, 2010-February 6th, 2011. Check it out here: http://tinyurl.com/26d98yh
And Now For Some News ...
Apple Has Sold 2 Million iPads To Date
CNN/CNETApple has sold more than two million iPads since they first went on sale on April 3rd.
Read more about it by clicking here.
SoundExchange And AFTRA Team To Get Members Owed Royalties
CNN/CNETSoundExchange, the entity set up by the recording industry to collect and distribute royalties from music webcasting services, announced on Wednesday a project with the American Federation of Television and Radio Artists (AFTRA) to identify some 6,000 artists owed royalty payments.
Read more about it by clicking here.
Big Media Has Trouble Collecting Pirate Bay Fines
TorrentFeakDue to several verdicts against them, The Pirate Bay team was ordered to pay the entertainment industries $6 million in fines. As predicted, actually getting hold of the money is not going to be an easy job for them. Thus far, the debt collecting agency has only seized $30,000 of the total sum.
In response to the fines handed down at the main trial, former Pirate Bay spokesman and defendant Peter Sunde earlier noted: "We can't pay and we wouldn't pay if we could. If I would have money I would rather burn everything I owned."
A year later and the total sum of money owed adds up to a massive $6 million. According to the agency that is tasked with collecting the money, the entertainment industries have only seen a fraction of it so far. It turns out that Peter's prediction may have been right.
Read more about it by clicking here.
Web, Mobile Radio Listening to Grow 15% This Year
AccusStreamResearchListening to online and mobile music services is expected to grow by 15% this year, to 8.3 billion hours, and are forecast to expand another 22% in 2011, according to a report from market research firm AccuStream Research.
Read more about it by clicking here.
The IRS Is Eyeballing E-Commerce: Meet the 1099-K
Washington PostPart of the allure of DIY e-commerce sites such as eBay and Craigslist is that, like garage sales and flee markets, they seem to operate under the radar of government scrutiny. Bursting that bubble, the IRS is reportedly cracking down on frequent and/or big-time sellers, reports The Washington Post.
Furthermore, "As online commerce grows, it is drawing increased attention from tax collectors," the paper write. "Beginning next year, a new law 'requires the gross amount of payment card and third-party network transactions to be reported annually to participating merchants and the IRS,' according to an IRS summary." For their 2011 tax returns, taxpayers who annually sell more than $20,000 worth of goods and have more than 200 electronic transactions will receive a new IRS form, known as 1099-K, reporting the proceeds, a spokesman for H&R Block says.
Read more about it by clicking here.
Metro Lyrics Debuts A $2.99 App
MetroLyrics.com, a site that offers searchable, licensed song lyrics, has launched a new $2.99 iPhone application, providing access to lyrics to more than one million songs, along with a range of social features.
Read more about it by clicking here.
Concert Ticket Prices Drop For Summer
RollingStoneLive Nation Entertainment announced "no-service-fee June" Monday at its 50 U.S. amphitheatres, covering 700 shows by 110 artists, including the Dave Matthews Band, Tom Petty and the Heartbreakers, Green Day, Kings of Leon, Phish and Rihanna. "A fan in every seat is our mission this summer," Michael Rapino, Live Nation's chief executive, says in a statement. "We know that's tough in this economy, so it's our job to find a way to make concerts more affordable."
Read more about it by clicking here.
Facebook's Zuckerberg Had A "Nixon Moment" Says Market Watch
MarketWatchDrawing perhaps the least flattering comparison possible, MarketWatch Says Facebook founder/CEO Mark Zuckerberg just had "a Richard Nixon moment under the grilling of two of the hosts of the All Things D D8 Conference." Thinks got so bad that Zuckerberg "literally squirmed in his seat," and was forced to take off his "famous" hoodie sweatshirt.
"When I was 18 or 19 years old, I did a lot of stupid things," Zuckerberg told D8 co-host and BoomTown blogger Kara Swisher when asked if recent unflattering stories of the early days of Facebook accurately portrayed him. "I don't want to make an excuse for that ... I'm really sorry that I did them."
Faced with more tough questions, "sweat literally dripped from his face," according to MarketWatch. "Zuckerberg also dodged questions about how the backlash stemming from another recent privacy uproar affected him personally." Recounting how he took Facebook from a dorm room experiment to the world's most popular meeting place, Zuckerberg said somewhat cryptically: "A lot of stuff happened along the way."
Read more about it by clicking here.
Apple & Google Will Fight For Future Of TV
Los Angeles TimesA battle is brewing between Apple Inc. and Google Inc., and this time it may come into your living room. Nearly 40% of consumers said they wanted to connect their computers to their televisions to watch online video, according to a recent survey by Frank N. Magid Associates. One week after Google announced its bid for the hearts and eyes of America's TV viewers with Internet-based Google TV, its Silicon Valley rival is reportedly poised to overhaul its own offering, Apple TV, reports the Los Angeles Times.
The stakes are high. Whoever wins could play a leading role in one of the great technological transformations of recent memory by piping limitless video and other content from the Internet and television to the small screen. Americans spend several hours a day in front of their televisions, creating what some analysts estimate to be a $150-billion advertising market.
Apple TV will focus all of its attention on cloud-based storage, reports the Miami New Times, with an option to use a Time Capsule as an external storage component, though the gadget's main task will be all about streaming. The new Apple TV will no longer have its current OS-X lite operating system, and will run through an almost exact replica of the iPhone OS model. And of course, it's kind of a given that you'll also be able to stream Netflix, music and then some. But we're not about stating the obvious, here. This platform seems the ideal choice for game enthusiasts. So the real question: Will Apps and the App store join in on all of the fun and turn the Apple TV into an ultimate gaming platform?
Read more about it by clicking here.
The Music Industry Past, Present & Future, And The Internet
I answer questions on EconTalkI did an interview about the industry and the Internet at EconTalk with host Russ Roberts. Russ is also a professor of economics at George Mason University, blogs at Cafe Hayek, and has written three novels that teach economics. He's also the co-creator of the Keynes-Hayek rap video. (And if your understanding of the economic meltdown that occurred needs to be enlightened, this video will do it)
In the interview we talk about the evolution of the music industry, the impact of the digital revolution, and I give my reasons for believing in the virtues and potential of the Internet in enhancing the music industry. I point out, as I have many times here in the newsletter, that the internet allows numerous artists to make money from their music and it can enhance revenues from live performances by expanding an artist's base. We also discuss the challenges facing record companies and I suggest that the full potential of the Internet as a distribution channel has yet to be fully exploited. There's a lot of ground covered, but based on the comments already posted of those who have tuned in, they've enjoyed it.
Read more about it by clicking here.
AEROSMITH ON THE ROAD AGAIN:
Aerosmith have announced they'll return to North America with their Cocked, Locked, Ready to Rock tour starting July 23rd with a concert in Oakland, CA. Their summer schedule includes a sold-out homecoming show on August 14th at Fenway with J. Geils Band. Tickets for the Cocked, Locked U.S. leg begin going on sale this Friday, June 4th. Sammy Hagar and the Wabos will open the majority of the dates.
OUTSIDE LANDS, LANDS KINGS OF LEON:
Kings of Leon, Phil Lesh and Bob Weir's Furthur, the Strokes and My Morning Jacket are booked to headline San Francisco's scenic Golden Gate Park this August 14th and 15th at the third annual Outside Lands Festival.
KEYS ENGAGED AND PREGNANT:
Alicia Keys' reps confirmed via a pair of big announcements: the 29-year-old singer is engaged to her boyfriend, producer Swizz Beatz, and is also expecting her first child, according to US. The news comes after months of speculation that the singer was pregnant.
ARCADE FIRE ON THE ROAD AGAIN:
Fresh off announcing their new album "The Suburbs," Arcade Fire have revealed the first 13 dates of their first North American tour in three years.
YOU CAN CHECK IT OUT, BUT YOU CAN'T RENT IT:
The London apartment Jimi Hendrix once called "my first real home of my own" will be put on exhibit for the first time this summer to mark the 40th anniversary of the guitarist's death.
PRODUCED BEHIND BARS?
Phil Spector has used his Wall of Sound recording technique in the studio, but the legendary producer is getting back to work, even as he serves jail time for 2003 murder of actress Lana Clarkson. Spector is listed as producer and arranger for his wife Rachelle's debut album, "Out of My Chelle".
SIMON SEZ GO BACK:
Paul Simon is moving his entire solo catalog back to Sony Music after three decades with Warner Music
YOU TUBE RULES VIDEO ONLINE:
Thirty billion people watched video on the Internet in April, according to comScore, with Google sites, including YouTube, attracting 13 billion or 43.2% of them.
Quotes of the week
"I can tell you as one of the largest sellers of content on the Internet to date -- price it aggressively and go for volume. I think people are willing to pay for content. I believe it for music and video, and I believe it for the media."
-- Steve Jobs, during a lengthy question-and-answer session Wednesday at the D8 Conference"You know how much you can earn off touring, right? Big artists can make anywhere from $40 million for one cycle of two years' touring. Giant artists make upwards of $100 million. Make music -- then tour. It's just the way it is today. I hate big acts that just throw an album out against the wall, like, 'Buy it! F**k you!' It's mean to fans. You should go out and tour it to your fans in India, Japan, the U.K. I don't believe in how the music industry is today. I believe in how it was in 1982. I don't understand bands who say they'll tour for one year, then record the next. I make music every day!"
-- Lady GaGa in the UK's Times Online (Read the full article here: http://tinyurl.com/2e98rby )"Listen, I'm running out of organs. But at least that organ's still good."
-- Despite having major health problems, Bret Michaels tells EW that one thing STILL works."Our whole rhythm just got thrown off over the last three or four years. We ended up touring without new albums a couple of times and it just didn't work out. It felt off-kilter and the tension was pretty high. Now Steven is singing better than I've heard in a long time and the shows have just gotten better and better. It feels like 1971 again. We've had a lot of ups and downs in the past, and we're up-ing right now."
-- Joe Perry, talking in Roling Stone about Aerosmith finally playing together again"He didn't remember any of the conversation, which is a shame because he promised me his car and various other valuables, a few paintings."
-- The Edge, talking about his first conversation with Bono after the U2 frontman had emergency back surgery
The B-Side - 'Blips'
THE ONION (www.theonion.com) STORY OF THE WEEK:
Not Very Good Album Takes A Little While To Get Into
BROOKLYN, NY-After a number of close listenings, local resident Brian Mott was finally able to get into a music album that is really not very good at all, sources reported Tuesday.
Read the rest here and laugh: http://tinyurl.com/374jo7g.
THE RADIO INTERVIEW on 'THE AMERICAN PERSPECTIVE' - From newsblaze.com
"Steve Meyer is on the front line of global music sales and distribution which he expects will soar to pocket-bursting levels. What's more, he shares his insight and ingenuity with us. Steve gives us both historical perspective and futuristic vision as he chats with Judy about the love of his work, trends of the business and his personal points of view about success, happiness and blending life with the lust for life. Steve joins Judy and helps us discover the thrill of having it all with a sense of balance and purpose. "
You can listen to an interview I did with Judy Piazza of 'The American Perspective' by clicking here: (It runs about 15 minutes)
http://www.thesop.org/index.php?id=10306.
The Blogs
Check out Jerry Del Colliano's (the founder of INSIDE RADIO) daily blog, by clicking here: http://www.insidemusicmedia.blogspot.comWebsite
Check out attorney Ray Beckerman's website at: http://recordingindustryvspeople.blogspot.com where he prints news about the RIAA's ongoing activities
TinyURL
Check out www.tinyurl.com where you can make a smaller URL that will work for any webpage you wish to link to or reference. (As you can see, I'm using it in my news stories above!)
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