Sounds like an enormous loss, doesn't it? It almost makes you feel guilty for downloading that song you heard on that radio or accepting a copy of that CD from your friend. However, before you consider confessing your sins, there are a few things you should be thinking about. For example, who ever said that corporations had a fundamental right to succeed using the same methods they have used in the past? The rise of the internet revolutionized so many other industries, what caused the music industry to believe that they would be the exception? I am not saying that piracy is wrong or right; however, I do wholeheartedly believe that the music industry business model, that was once successful, is now outdated.
Nowadays, everyone can download music at almost no cost. Using legislation to fight piracy is like dumping loads of money from a helicopter, while flying above busy streets with a sign that says, "Don't catch the money." Without doubt, most of the people on the ground will take it, especially if everyone else is doing so without apparent consequences. Downloading songs illegally may not be right but it is widely available and it is easy to do.
Rather than changing the consumer environment, I believe it would be a lot wiser for the music industry to reconsider its business model. In fact, I believe the music industry would benefit greatly from the book "Who Moved My Cheese?" Its simple story reveals profound truths on change. Below I have outlined its lesson and how they have applied to the revolution in the music industry thus far:
Lesson #1: Change happens.
Long ago, artists spent loads of money recording albums and then made loads of money selling those albums to a wide variety of customers. However, that is no longer the case.
Lesson two: Anticipate change.
The internet came about. Perhaps the utility of the internet was not as clear during its initial stages as it is now; however, through the times many useful innovations came about, such as YouTube and Facebook, and revolutionized our lives and the way we do business.
Lesson three: Monitor change.
While technology quickly progressed, some artists believed that they could satisfactorily sit on their pile of money, without keeping an eye on Napster, LimeWire and YouTube.
Lesson four: Adapt to change quickly.
Some of the folks in the music industry began to realize that the days of making money off record sales were ending, and began to adapt to the change by focusing much more on live performances than ever before.
Lesson five and six: Change and enjoy the change.
Wise artists began to focus most of their time and energy on image and brand development. It happened with the phonautograph; it happened with the cassette; it happened with the CD; and it is now happening with digital media. The landscape is continuously changing and so must the artists.
In short, piracy has not killed the artist but rather it has challenged the methods that have been used in the past to make a profit. Those who wish to remain in the industry must learn to adapt, and those who wish to enter must be ready for more changes in the future. It’s going to keep happening. Behaviors that prove successful in the past are not necessarily successful techniques for the future.
My fellow music industry friends, fighting digital media and piracy will only cause you to stay behind while others successfully adapt to the changing times. I recommend you pick up a copy of this book and apply it to your business today.
