Over the last decade or so, the talk about the changing of the music industry, the fall of the record label, and the rise of independent music has been well-documented. There is such a plethora of music in the world these days — almost all of which is available with a particular click of a mouse — that it’s hard to find clear, tangible evidence of these shifts outside of the abstract statement “the music industry is changing.”
This week, Billboard released its 2012 edition of their “Power 100″ within the music industry. While a list is nothing more than an educated opinion, when you look at the various forces at work within the list, you see the tangible results of the change in the industry.
Fifty years ago, I would imagine that record label producers, talent buyers, etc. would hold a heavy presence in a list such as the “Power 100.” Here in 2012, only 21 of the 100 were filled with record label executives. While many of the shifts in the industry –going digital, increase in resources for “indie” musicians, economic hardships — have weakened the influence of the record label, it’s creating a different structure– one that’s focused on touring.
Those in management and the touring business populated 23 slots of Billboard’s list. It’s not to say that record labels are suddenly losing their influence because they’re worthless, it’s more to the fact that the current culture has many new (and therefore, more) methods of distributing music to the masses. When we look at the remainder of the list, it speaks to that ever-growing diversity.
Other than the six artists present on the list (Jay-Z and Beyonce [couple], Jon Bon Jovi, Taylor Swift, U2, Lady Gaga), “there are 10 executives in television or movies (who either book artists or curate music for their productions); nine radio-industry executives and seven music-publishing executives.” Additionally, “the list also includes executives from six digital service providers, from webcasters like Pandora to digital download stores like iTunes; five companies that use music for branding purposes and provide tour and artist sponsorship opportunities.” It doesn’t stop there. There are more.
It’s not that these labels are losing influence simply because people don’t like them, it’s just that musicians have more options with where to take their music. Additionally, there are other avenues for distribution (digital, advertisers, etc.) that fall outside the realm of the record label’s power.
With more music than ever at our fingertips, it makes it harder on everyone to get heard. Thus, I would imagine it’s getting harder to control what music makes it into the limelight. Consequently, record labels are a weakening beast. Who knows, maybe the touring beast is next.
Brian is an active musician and songwriter with the band Something With Trees and spends a lot of his time perusing around the music world in one form or another.
Sources
Billboard’s Power 100