Sunday Sep 02, 2007

MySpace is over; Facebook ... might not last much longer

Front Cover of NYTimes Magazine

The NY Times Magazine sometimes has very interesting articles. This week it included The Music Man, a piece on Rick Rubin, a very influential music producer that was named co-head of Columbia Records earlier this year. The music industry is in trouble and Rubin's charter is to rejuvenate it.

Some excerpts from the article...

Reporting on some focus groups with some college students

... a) no one listens to the radio anymore, b) they mostly steal music, but they don't consider it stealing, and c) they get most of their music from iTunes on their iPod. They told us that MySpace is over, it's just not cool anymore; Facebook is still cool, but that it might not last much longer; and the biggest thing in their life is word of mouth

On priorites...

The most important thing we have to do now is to get the art right...

On the challenges facing the music industry and Columbia...

... we will have the best record company in the industry, but ... we might have the best dinosaur.... until the paradigm shifts, it's going to be a declining business...

Other bits from the article worth mentioning: he started a "word of mouth" department, is a fan of The Beatles (like everybody else?), and I learned about Paul Potts ([YouTube], [WebSite]).

Overall, an article worth reading. Some of the comments about the music industry remind me a bit about the software industry (but there are a number of key differences), and some of the visionary in Rick reminds me of Jonathan :-)

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