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In Reply to: RE: Another look at consumer spending on recorded music posted by Chris from Lafayette on July 27, 2015 at 12:25:02
There are several problems with trying to analyze the current situation. I can think of many.
One, the contortions they go through to compare albums to tracks just doesn't apply to all music. It works better, perhaps, for pop/rock music, but not at all for classical, which can really only be thought of as complete works involving multiple tracks. I mean, who streams random single movements of classical music? Classical music sales are affected more by the deadening repetition of the recorded repertoire. How many CDs featuring the same work does one need, really?
Second, how much of the devaluation of music is due to the transition to downloading and streaming, versus the complete collapse of quality into vapid wasteland of over-produced, over-engineered muzak for the masses? A good indication of this is the constant repackaging and re-releases of music from the 60s and 70s, which still rack up plenty of sales.
Finally, and related to the second point, the methodology looks only at sales of newly released physical media. But there is a booming market in sale of used CDs and LPs. In fact, the number of sales of newly pressed LPs is dwarfed by the used market. So there remains a strong market for physical music media, but that market is not being met by the musical product being issued today.
Of course, that's just my opinion and YMMV.
"Life without music is a mistake" (Nietzsche)
Follow Ups:
"Second, how much of the devaluation of music is due to the transition to downloading and streaming, versus the complete collapse of quality into vapid wasteland of over-produced, over-engineered muzak for the masses?"
The vast majority of it, to a smaller degree with downloading (iTunes, Amazon) and a larger extent with streaming. A new release will generally generate between ten and one hundred times the revenue from a sales site than from a streaming site. That's only digital, remember a single CD sale is equivalent to thousands and thousands of streams in terms of revenue.
Dave
Always one more is a good rule of thumb. :)
"A lie is half-way around the world before the truth can get its boots on."
-Mark Twain
Good point, but who streams/purchases or for that matter purchased classical music at all even back in the day?
N O B O D Y !
Well, almost nobody.
But fear not, music ain't going away, just a few people will make less money for a while.
What everyone forgets is how few people made those big bucks back in the 'heyday' of the music industry.
Well, I would disagree with you about that. Classical music was a major market for many years, all through the vinyl era and into the early CD era. Even now, small labels turn out lots of CDs of lesser known classical composers/works, which sell well enough to turn profits for the labels. And a very big chunk of the used vinyl sales is classical.There is still a market for LPs and CDs of classical, but it s not being met by the major labels, which just turn out more recordings of the same warhorses. Is it a huge market compared to Gaga Bieber? No. It's a niche, as is the jazz market. Major labels just aren't interested in the niche market.
"Life without music is a mistake" (Nietzsche)
Edits: 07/28/15
Klaus Heymann, the C.E.O. of Naxos, currently the world's largest classical music label, gave a sobering and distressing interview in a recent issue of Stereophile, where he confirmed that his label is not making any money off of physical media. They are in fact losing money on physical media. He also said the company would abandon physical media within five years and go to a business model that was 100% streaming and media on demand (downloads or physical media on demand).
I was shocked to hear the world's biggest classical music label admit that they were giving up on physical media and would pull the plug within five years. If Naxos goes this way, it won't be long until all the remaining Classical Independants (many of whom Naxos currently distribute) do the same.
The writing is on the wall.
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