Every week the antiquated record industry trumpets its sales figures and the even more ancient media industry repeats them. And to say they're unimpressive is to say you took the family goat to prom.Lefstz points to Imagine Dragons, a band selling about a paltry 25,000 records a week, putting it in Billboard's top ten:
Have people just given up listening to music?Bingo. Sweetheart deals between remnants of the once-mighty music industrial complex are absolutely not the answer. The idea that you can get 850 Clear Channel radio stations nobody gives a damn about anymore to drive anything -- streams on iHeart Radio, downloads, CD sales, whatever -- is absolutely absurd. Warner and the rest of the industry should tell Clear Channel to "share" its "revenue" with the entities that carry its debt. Then they should embrace Spotify, Pandora and the rest of the Internet radio pioneers, not desperate knock-offs like the one Pittman hastily conceived at Clear Channel. In a sentence and a closing paragraph, Lefsetz puts it all too rest:
No! It's just that the industry keeps pointing people to lame metrics.
On Spotify, the supposedly rip-off system with no traction, Imagine Dragons' "Radioactive" has been spun 122,988,750 times. Put that number in the paper, it'll wow people! It's almost unfathomable -- it's got too many commas for most people to be able to interpret. And the band has another track at over 50 million and two in the 30 million play range.
These numbers are spectacular!
It's not whether someone buys it but whether they play it.Follow @rocco_thestreet -- Written by Rocco Pendola in Santa Monica, Calif.
... Right now, these Spotify numbers are real. And important. And as soon as we stop vilifying these streaming services and start trumpeting their metrics, the sooner the rest of the world will take music seriously, the sooner artists will realize that there's a ton of money in music and it's worth it to take the risk as opposed to play the game because you can go straight to your audience and people are hungry for something new and different.