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Friday, 29 July 2016

The digital revolution is rewriting the rules for the music industry

We’re not sure what’s being pumped through Hana’s headphones, but she’s diving deep into the music industry this weekend with “The music industry and the digital revolution” by Economist Films (run time 18:21). Yes, it covers the standard ground: How changing business models disrupted labels; artists looking for recording deals that allow them to retain the rights to their music. Forget about how labels are trying to “find the next superstar … trying to find your wedding song … the songs that will make the soundtrack to your lives.” No, it’s about — God help us — the power of social media. Witness, the Economist says, 18-year-old American singer-songwriterJacob Whitesides, who has 1.5 mn followers on Facebook and 1.2 mn on Instagram. Having a fan base independent of a label have him more freedom — not creatively, but in business. He managed to sign a contract with BMG where he owns all the creative rights to his music.

(Oh, and while we’re on music: Odds are good your tween-age daughter is watching videos on (and posting to) Musica.ly, an app that allows you to create 15-second videos of yourself lipsyncing a popular song. Predictably, some of the kids here have mns of followers — and are doing real-world business deals. Read “90 mn tweens, a free app, one goal: Fame,” in Elle magazine, which helpfully sends shivers down parental spines by noting: “In the future, everyone will be famous for 15 minutes…by ninth grade. And the platform for that tween infamy is Musical.ly.”)

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