Can artists make money in a file sharing world?
The bane of music industry, file sharing has probably caused more controversy over the last 10 years than anything else on the web. With the RIAA suing everybody they can, companies incorporating DRM technologies and some music artists being very public about the issue, it is refreshing to see some artists that artists understand the climate.
Take 50 Cent for example. In an interview with TorrentFreak, he claims
“What is important for the music industry to understand is that this really doesn’t hurt the artists.”
and
“The concerts are crowded and the industry must understand that they have to manage all the 360 degrees around an artist. They, (the industry), have to maximize their income from concerts and merchandise. It is the only way they can get their marketing money back.”
If the old guard of the music industry would get off their 30+ year old business models and accept change, they might just make some money along the way. Same can be said for the artists and writers. The primary revenue stream of selling just the music isn’t going to cut it and those that understand that will survive.
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