Listen to the Music

The music business seems a far call from writing, but it actually isn't. And that's why you should pay attention to some developments in that industry. After ten years, London group Radiohead walked away from a normal label release of its latest album and sold it over the Internet only for whatever price people wanted to pay. According to the BBC:

BBC Radio 1's head of music, George Ergatoudis, says there is "real pressure" on record labels to keep up with the changing times.

"They need to change how they run their business. The future is definitely more competitive than it has ever been," he says.

The band is currently refusing to say how many orders it has received or how much people are paying, according to Gigwise.com. But the action alone has been enough to start major interest among some musicians in dropping major labels. Nine Inch Nails just dumped its label, according to the London Telegraph, and Madonna - never known for being a business dope - just dumped Warner Music Group to sign a ten-year, $120 million deal with concert promotion company Live Nation.

The Wall Street Journal points out that the deal may be financial stupdity on the part of Live Nation, but forget even that for a moment. The lesson is that no industry is so entrenched that writers, musicians, photographers, and artists are forced into indentured servitude. A way out may be risky, but so is staying in place. Now is the time to experiment - perhaps on the side to start - and see what new business models might be possible, if you want to remain in business in the future.