NEW YORK ( TheStreet) -- As much as I love Billboard, I have to call them out for a worthless series, most obviously titled "World War P: The Battle Against Pandora ( P)." Talk about lazy journalism, focused on (an albeit decent job of) regurgitating and summarizing what we already know during a time when we desperately require somebody to move the Internet radio royalty conversation forward.We should all expect -- and demand -- more from institutions such as Billboard. But then, thankfully, there's this. An article that required a fraction of the time and space to produce that, in a perfect world, would go viral and have the impact it deserves. I want to apologize to Steve Knopper and Rolling Stone for doing something I typically do not do. I am going to provide them with a link to an excellent story they published Tuesday, however, I'm going to excerpt from it more than I usually would in this article. It's just that important, telling, constructive and, at the same time, so damn frustrating. First, reacting to news that U.S. album sales hit another record low in July, Knopper cuts to the heart of what's happening to the music industry:
The dismal sales strongly suggest growing streaming services such as Spotify, Pandora and YouTube have begun to cut into CDs and download sales.Knopper then quotes Daniel Glass of Glassnote Records. Glassnote reps some solid acts, most notably Mumford and Sons. Given the pressure the music industrial complex exerts, even if indirectly, to conform to the MusicFirst, David Lowery, Pink Floyd company line, it takes some balls for Glass to express his vision, which bravely goes against the grain:
We're in a transition. Streaming is up. The economic model is not there today, but it will be there.
I'm from the school of embracing the technology to find that wider audience. (Glassnote's) business is up. Ticket sales are great. Our groups are thriving. We can't afford to have a dying model.I have one more brother from another Mother. I could have used Glass's comments in one of the dozens of articles I have written over the last year or so articulating the very same position. And let's not forget an equally-as-worthy-of-repeating nugget from former Island Def Jam president Jim Caparro:
The record companies have to re-engineer themselvesI would extend that to include not only subscription services such as Spotify, but pure-play personalized Internet radio pioneer Pandora. While the models and prospects for success are distinct between the various players, the notion that the music industrial complex needs to "embrace technology" and "re-engineer" itself around Internet radio warrants broad appeal. And, make no mistake about it, that notion absolutely does have broad appeal. Here's why it does and why the media roundly ignores it ... on page two.
around subscription servicesto continue to be relevant and profitable.