Is Music A Good Investment? Whyte vs. Resnikoff
At Monday’s ABA Forum on the Entertainment and Sports Industries in Los Angeles during the panel discussion "Dumb Money vs. Smart Money", Robert K. Whyte, the managing director of investment bank Mosaic Capital, declared music "a win-win situation for both artists and investors".
Many investors have moved away from music because of the tangled web of permissions demanded by rightsholders. In an essay that seems particularly negative from a publisher who has profited from the ads of the many startups he’s championed, Digital Music News‘ Paul Resnikoff cites "a trail of under performing startups and lots of lost cash…make no mistake, very few are actually making money in this space."
Whyte, however, sees opportunity in the growing group of artists that have chosen to work outside of the major label system. "The recent evolution of the music industry creates a win-win situation
for both artists and investors," said Whyte. "Bands and independent
artists now have the tools and ability to promote themselves and their
albums. They can drive and track their success, without contracts. New
media makes this possible, and investment in those new endeavors reaps
the benefits once found in royalties and copyrights."
What is your view of the current state of music industry investments?
Tomorrow: A Third Path Forward
Thats an interesting article by Resnikoff. However it seems like he and Robert Whyte are talking about different aspects of the business. While the Resnikoff article primarily discusses old industry models it only touches a lightly on newer revenue sources. It seems like Whyte is focusing on artists becoming successful and going independent without the old guard.
Bottom line, I think they’re both right. Resnikoff is correct about the old model hemorrhaging money and Whyte is correct about artists being able to make a living without having to follow the “old path”.
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Myspace Playlist
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