Looking at this survey from The Nielson Company of global music consumption habits I think not. Digital music sales are flat, music consumption habits are changing and so are the demographics and desires of music fans themselves. So why is there no innovation in music product to cater to these new habits and consumers? Why aren’t the labels listening? Why aren’t they cooperating and creating appropriate licensing models that will spur new product innovation and….revenue?
Clearly the old model of buy and listen isn’t winning the popular vote anymore. When the labels had control over music supply it was a very viable and lucrative model. But guess what, they don’t have control over the supply anymore, whether they like it or not. Consumers have a choice and try as they might to squelch piracy with their iron fists of legislation, at the end of the day they’re losing…and making everyone suffer along the way. It’s a slippery slope of defense with an inevitable ending. The reality is right there in this chart. This isn’t the music consumer of yore. It’s a YouTube generation filled with a new kind of music fan that wants to experience music and share it. So let’s put this lame horse known as the old music industry out of it’s misery, make some glue, and build new product strategies that support both the artists and consumers. Goddamnit.