There was a great series on engadget recently about the rise of iTunes and its impact on the music industry.
The 3rd (and final) article in the series contrasted the record company marketing machine/big fancy studios/long term contracts/relatively few artists given the backing needed to be heard by a wide audience model that was in play for decades, vs. now, where, as one poster noted, THERE ARE SO MANY GREAT BANDS! Oy. Like 55 trillion billion of them at last count, because the barriers to getting your music out there for public consumption have been lowered to where almost anyone with a computer can do it. The result? IMO, a un-navigable sea of mediocrity, with an endless stream of here-today-forgotten-tomorrow bands and musicians. The irony is that, in spite of the lowered barriers, music, in the sense of it being a long-term, viable career path, is as difficult to attain as ever.
I've often thought that Pearl Jam was/is the last great rock band. The digital revolution has shut the door on the idea of the larger-than-life, multi-album, long-career band.
From the article:
So it's the promised land for musicians, right? Not exactly. For many creators whose careers span the before-and-after of digital music, there is a crushing sense that the grass isn't greener after all.
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Easy distribution into digital channels creates a cacophony of music noise, making it harder for any artist or band to be heard.
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Technology companies have made music more democratic, without question. From a distance, it looks like the hallowed "level playing field" that new media is famous for. But close up, the level field might seem like an arid desert where musicians can trudge forever without getting anywhere.
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Today's economics assign a far lower value to a stream than to a download or CD sale. Krukowski calculated that for one of his records, it would take 312,000 Pandora plays to earn one album sale.
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"When audience becomes artist, the result is shit," Keen said. "New enabling technology destroys both art and art commerce. Consumers lose."