Jupiter PlugIN: Saving The Music Industry

(Panel agenda and bios) Jim Griffin, CEO, Cherry Lane Digital: Creating the pool of money, who gets what, is the most important part…carving it up between artists and labels and others will happen eventually.

Ken Hertz, Partner, Goldring, Hertz, Lichtenstein & Haft: The music industry is in great shape; the record industry is in the toilet. The travails of record companies has made people more interested in music…

Ted Cohen, Senior VP, Digital Development & Distribution, EMI Recorded Music: There is not one model that will solve the problem. We as labels need to enable all those models.

Joshua Matthew Dern, Vice President of New Media, Atlantic Records: relationships will have to be modified…we just have to find the right way to speak our consumers.

Ann Chaitovitz, National Director of Sound Recordings, AFTRA: It is important for the labels that the artists will have to be compensated…we believe we will continue to have labels as they are…they will just be the marketing arms. They gave up A&R a decade ago anyway….

Ted: The last six months have been amazing: I have seen more movement in the last six months…it is ready for prime time now…when artists see what the advantages are, and when they see how they will be compensated, things will take off…

Jim: The pull versus push…users will now pull the music they want–as opposed to the push model recording industry has been doing till now–and that will ultimately benefit the artists…

Jim: The anarchy is the model…it is not about 5 companies controlling the business..it is a very normal course of affairs for technology to remove barriers, and it is up to us monetize this anarchy…we ought to let go..it is about freedom of expression…it is a much better lesson we learned going through the 60s…everytime we crave control, we lose; everytime we let go, we profit…

Ken: If record companies recognize that people refer to their records as “record collections”, they want to own them and collect them, while building other parts of music affinity business…packaging will be an important part…

Ann: Satellite radio has a great future..it has a great diversity, steady stream of revenue, and there is an income stream which goes directly to artists…

The conference coverage is sponsored by Entriq.

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