There have been some interesting announcements this week in the trades on two different initiatives, both of which reflect the changes in the current music business. No surprise to any of us, festivals have become the new way to listen to your favorite bands as well as create great revenue for the artists. Ten years ago Coachella was just a fun idea, and today Coachella, Bonaroo, and others are big businesses and bands without radio play are still making a lot of money. Touring and performing in front of live audiences is more important than ever, and here at Fieldhouse we feel that is a great readjustment. Digital delivery is good, but it does not take the place of honest live performances.
On another note, Shazam announced this week that they have attracted significant investments from many of the major record labels. Again, I applaud this development, as Shazam is a great way to recognize who you are listening to on the radio and is now an easy way to buy it as well. To me, these are both great improvements in the musical business with new ways for artists to monetize all their hard work!
Until next time,