Welcome to Ric’s regular musings looking at the current music industry, its challenges and overall why and how Daft Springer’s web3 platform works so well for the independent music industry. Written by Daft Springer Chairman, Ric Yerbury.
To be clear, I was in the Blur camp when the industry constructed a wonderful campaign based on a supposed enmity between Albarn and the Gallagher brothers. Which was weird considering I loved both those bands in equal measure. Anyway, I could have titled this article: “Starting From the Wrong Place”. Essentially two sides of the same discourse. I have always thought that many arguments and outbursts of anger come from starting from the wrong place. This presupposes that arguments can be based on reasonable terms, whereas we all know that this is not always the case. So to the case in point, the plight of the new artist in the music industry. It can be argued that for many of us it is a case of looking back in anger about what amounts to poor decisions and poor service. My previous article which touched on Raye’s recent split from her record label did reflect a little on the inappropriateness of the long term record deal. For me it is a far simpler diagnosis, the world has changed and failure to recognise this has resulted in many within the industry starting from the wrong place. What actually does an artist need? Is this the same as an artist 50 years ago? Possibly, but unlikely. Elements remain the same but in terms of commercial engagement, definitely not. The artist can potentially generate revenue from a myriad of sources directly and indirectly related to the music they create. The artist is a business as well as a creative force. Much of their output is consumed digitally with the potential to have a direct relationship with the consumer. Given all of this, how do we answer these questions?
- Why are we starting the relationship with the artist with the movement of the copyrights related to the content they put out?
- Why are we starting with a silo approach to the copyrights and the revenues generated?
- Why do we insist on long term commitments in terms of future products created beyond simply a share of future revenues?
- Recording- studio/producer/engineer/mastering
- Distribution – digital/physical
- Marketing – PR/digital/advertising
- Professional – accounting/legal