innovation, music business, music industry is dead

Innovate or Perish

[RANT] I am sick and tired of reading articles and blogposts that scream out

“… doomsday – the sky is falling, the music industry is dead – it was killed by the internet. Blah, blah, frikkin’ blah!”

Enough already!  It’s just so much crap!  The music industry isn’t dead.  IT’S CHANGED!  What’s dead are the companies that refused to change with it.  And I am just so over the reporters and bloggers who are much more interested in talking about doom and gloom.  What’s failed, dead, dying.  Instead of looking at what’s actually working now.

In The Recession-Proof Business: Lessons from the Greatest Recession Success Stories of All Time, Victor Cheng gives us specific guidance about how to create a successful business in the midst of great upheaval and change.

And I think we can all agree that the last 15 years has been a time of great upheaval and change for the Music Industry.  The last 6 years have been a time of great upheaval and change for all industries.  This is old news.

So what’s my point?  We can whine and moan about what’s past and gone.  We can doom and gloom about how HARD its going to be for you to create your successful business given the challenges of the time.

innovation, music business, music industry is deadBut I say – To HELL WITH THAT!  What does that give you?  It certainly doesn’t help you move forward towards your goals and dreams.  Instead of focusing on all of the obstacles and challenges:

  • Look at who is making their business work for them.
  • Look at who your specific target market is and what their needs are.
  • And look at where your fans are currently spending their money.

“Forget the overall macro economy numbers; look for where the money is flowing to and position your business to piggyback off it.” Victor Cheng

And then innovate.  How can you uniquely solve their problems?

Apply your creativity to creating a promise that will not only solve your target market’s problems, but shows them how deeply and clearly you see them, understand them and serve them.

In my class “Internet Marketing & Social Media – a Complete Waste of Time or the Key to Your Success“, I use Jonathan Coulton and Amanda Palmer as case studies of 2 artists who did exactly that.  They saw the opportunity of the internet and social media and put themselves in front of that wave.  There are companies and artists who are making a fine living in this world.  I say find them, study them and then apply their lessons to your unique voice.

You can either ride the wave of the future or be wiped out by it.  What will you choose?

 

Save

Save

  • Now, I like this. This is a positive rant, mostly I’d say Do Not Rant at your followers, it puts people off, but then I’m talking about indie artists who whine: why does no one buy my music or Why does no one read my news letters?

    Music industry won’t die, there may be those who hope it will cause the industry does not give us the time of day – but hey – in that case we are to blame, not the industry.

    Fine article, thanks Debra!

    • Agreed – this wasn’t a whine 🙂