An emailer tipped me off to a story published Wednesday afternoon in The Wall Street Journal titled Streaming Is the Future, Says Pink Floyd Drummer.
Here's a key excerpt:
He said Pink Floyd had never liked the idea of people "cherry-picking" music from full albums, but Mr. Mason said he now views streaming services like Spotify AB as the future of the music industry, and compact discs as a dying art. He also identified Apple Inc.'s iTunes as being on a "downward trend."
"Spotify for us was a success," he said. "A lot of people have been streaming our music, and importantly also a lot of people who weren't yet familiar with our music. Perhaps I would say something different if we were having this discussion a year and a half ago, but now it's becoming clear that streaming is not another form of piracy, and you can argue that more music is being listened to now than...in the past."
While I clearly don't think he's getting his talking points from me, Nick Mason (he's the drummer) goes on to explain that the larger conflict lies between labels and the artists they purport to advocate. Spot on.As I write this, it's been 24 hours since the WSJ published this piece. Maybe I missed it -- I can't catch everything -- but where are all of the media outlets who jump all over the Pandora played my song one million times and all I made was a dollar and Apple (AAPL) to crush Pandora stories with reckless abandon? Where are they? Now, I realize that maybe Mason is just splitting from the sentiment he and his bandmates expressed in June's well-publicized USA Today OpEd. Or maybe he's not. Maybe he and Pink Floyd loathe Pandora, but love Spotify. All I want to know is where's the media on this story? Where are the aggressive headlines? Where is the analysis of what many of us view as the real problem? A music industrial complex unable to adapt "to the new reality" digital has ushered into the business. That said, when Mason speaks of the exposure and other benefits streaming provides artists, I highly doubt he feels one way about Spotify and another way about Pandora. While the two companies go about it in slightly different ways, both represent the future Mason so perfectly outlines in an article few people -- present company excluded -- will dare to bring up at anything above a whisper, if that. Follow @rocco_thestreet --Written by Rocco Pendola in Santa Monica, Calif.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV