Part 2: Today, marketing guru, blogger, and author of the new book Tribes: We Need You To Lead Us. Seth Godin, talks about the old music business, it's messy future, the economic downtugn and what's on his iPod. (Read Part 1: Tribes Heretics & Music)
Q. Is it too late for the old music industry and what should new music industry tribes and their leaders focus on?
GODIN: It's not too late for music, no doubt about it. It's probably too late for the music 'industry'. Most of the religion of this industry is about paying for people who add precious little value to what's actually valued by the listeners. Once you remove radio, record stores and duplication from the equation, it's not clear to me what 80% of the people in the music industry actually do to add value.
Q. You caution, “Don’t panic when the new business model isn’t as clean as the old one.” Can you elaborate, perhaps by using artists and the music industry as examples?
GODIN: Well, it took twenty or more years before the record business got perfect, but it was perfect. Free promotion (radio), dedicated stores (Tower)...
non-copyable, degenerating medium (LPs) and most important, a
cultural touchstone and souvenir rolled into one (wow! a Seals &
Crofts LP from high school!).
The new business is messy in comparison. Free downloads. No friction in the spread of riffs. Money made from t-shirts and concerts and tv commercials. What do I do now? It's not clear what to do now. That's messy.
Q: Is the econmic downturn changing how you run your own business?
GODIN: This is the best time in history to start a new gig. If you keep your costs insanely low, you have the advantage of being too small to fail, of having little in the way of competition and having access to the best people to help you.
Q. You obviously love music. What’s on Seth Godin’s iPod?
GODIN: I have bought one or two CDs every week for the last twenty years. It adds up. My Sonos has thousands of titles on it, ranging from Jen Chapin to Christian McBride, from Sauce (an album I produced and published in SACD) to Rickie Lee Jones live stuff...
- Read Part 1: Tribes Heretics & Music
- The Tribes lense on Squidoo.
