Friday, June 15, 2007

The Music Industry Also Debates Its Future

Newsday had an interesting tidbit on Thursday.

The music industry is holding the first New York "In the City" music conference at which there were to be panel discussions about the industry's future.

Tom Silverman, the chief executive of Tommy Boy Records and the conference's keynote speaker, ditched his notes for his opening address and instead asked the question: "Why aren't there more bold, innovative new artists?"

Silverman's question prompted the rest of the day's panels to brainstorm possible reasons. "There were discussions dedicated to how digital downloads had turned the music industry back into a singles-focused business." There were also discussions about how ringtones and touring is expected to replace revenue lost by the "plummeting album sales."

Seymour Stein, founder of Sire Records and the impresario who discovered Madonna and Talking Heads, had his own opinion as to why there aren't more innovative music acts.

"We got lazy."

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