Fred Wilson’s VC blog talks about Rick Rubin being made a co-President of Columbia.
The big old music labels are still doomed to irrelevance because they just won’t adapt, and their marketing practices are still hostile to music buyers. Also, nobody likes music subscriptions.
This was my comment on VC blog:
The only subscription I don’t mind is Netflix because it has pretty much everything, the website is useful, and not having to drive back and forth to Blockbuster rocks. Plus, who needs to own a DVD unless you watch it every week?
Music wants to be owned. You want to be able to listen to it forever on any device, at any time. You want to be able to create your own mixes to play at parties. You want to be able to make a mix CD, or even send a friend some MP3s so they can get into a new band you love. Some of these uses are “piracy”, but so what? Home taping not only didn’t kill the music industry, it stoked interest in music for a generation of teenagers.
Today, all music stores and services (including iTunes) suck because they have catalog gaps and bizarre rules about what can and can’t be sold as singles. This is not iTunes’ fault. It’s the fault of impenetrable music industry deals, but it still sucks for consumers.
The major record labels absolutely refuse to learn or change. Look at the latest Smashing Pumpkins album Zeitgeist. Different retailers like iTunes and Target got CDs with different bonus tracks. If you wanted the full album, including the TITLE TRACK, you’d have to go to 4 different stores. How can a crummy model like that compete with piracy?
One Comment
I thought the same thing when I read that NY Times article on Rick Rubin. The only subscription service that will work is one that lets you download (as well as stream) all you want without restrictions. I’ve seen it in action and it works. The trick is, you have to constantly release new, quality content. It also doesn’t hurt to package in related services and discounts on physical products with that subscription.