The current edition of Business & Economy (apparently “India’s most influential business and economy magazine”) features a piece on “Global music industry: is this the end or a new beginning? A musical paradox”. The upshot is that declining sales of albums and slowing digital downloads mean that it must embrace innovative business models or go under, and I’m quoted offering solutions on what these innovative business models might be…
Johnny Ryan, Senior Researcher at The Institute of International and European Affairs (IIEA) offers some ideas on how the industry can buoy up sales of music. He tells B&E that “the lesson for the music industry lies in the gaming industry. Computer game sales have risen as the music industry’s have fallen, and a part of the former’s success is a result of its approach to piracy and community”. The most successful computer games offer players online communal experiences that allow them to compete against each other, and to leverage the community and social strengths of the internet. At the same time, they also require players to connect via online subscription services that make software piracy impossible. Transferring this concept to the music industry might actually be a good approach.
Dr Johnny Ryan FRHistS 