How to fix the Music Industry

The movie industry has bounced back after a dip in the past few years. I think this is largely because studio executives have paid more attention to what people want. This is not a conversation of quality as I think there are still plenty of horrible films being made. But with numerous 80's inspired movies been made recently (think Transformers and comic book adaptations) I think we are seeing a closer parallel to the type film many people want to watch (the biggest movies goers are guys 18 - 35 i.e. which includes people who grew up in the 1980s).

Video piracy, as bad as the media has reported, has in fact not hit the movie industry as hard as suggested. I think this is becuase the theatrical experience of watching film is just that, an experience. Engaging with the event of watching a film, whether a movie theater or at home is an experience - popcorn, getting the best seats, watch trailers. This experience is coupled with a pricing structure that makes sense (most of the time).

The music industry on the other hand has reduced itself to a through-away experience where people place little value on the process on requiring new music. There is so much more new music every week than new films that rallying around just a few big releases is not going to work. Films go from theaters to DVD to TV. There are different windows of opportunity to experiences it. Music on the other hand goes from internet, radio to music stores without the experience fundamentally changing.

There is just way too much choice when its comes to music. I think fixing the music industry comes down to the process of getting music to become as compelling as wanting to listen to the music itself. Until the perceived value of acquiring music increases, piracy will be rampant as there is really very little missed as far as the experience goes from buying a CD to coping music from your friends iTunes.