Music Companies Missing Opportunity To Make Money With New Video iPod
He loved the image quality, liked the price and applauded the ease in downloading and playing content. But he still suggested waiting to jump on the bandwagon. The reason? The limited content available. Currently only 5 TV shows and about 2000 music videos are available at about $1.99 each via iTunes.
But since iPods and iTunes are rapidly becoming the music delivery system of choice, why aren’t record labels rushing to provide video clips for sale alongside the music. Can you imagine how many tens of thousands of hours of concert, music video, and interview footage lies gathering dust in record label and management vaults? And isn’t this a fabulous chance to finally make some money from this footage and feed the fan base with just a little bit of cheap editing to fit the new format?
But as is too often the case, labels appear slow to react rather than embracing a new way to monetize existing product. This is an opportunity that shouldn’t be missed.
Read the full a LA Times article here.