Over the course of time music has evolved from music genres to sub-genres. However, the methods and tactics to sell music have stayed the same over the years. The music industry has feared change and has blatantly disregarded change. If you don’t believe me, just this year alone IFPI wanted to change the global release day of music from Tuesday to Friday. Many people within the music industry thought the change would upset consumer buying habits and representatives from every region wanted to keep their own usual date. The up swing to the global release day is that most people get paid on Fridays; this alone may leave the consumer ready and willing to buy new releases. The Tuesday release day, which is statistically the most stressful workday of the week, maybe aiding in the declining sales of music. Does a stressed out Tuesday leave an absent-minded consumer? Frances Moore, head of IFPI, has stated, “The global release day would rekindle excitement around launching new music, allowing for truly global campaigns, bringing fans around the world closer than ever to their favorite artists.” Others say that it will fight piracy and cut down on music leaks, leaving consumers with no choice, but to buy music.
One sector of the music industry that is not afraid to adapt and change with the times is live music. Live music embraces technology and utilizes it to the fullest potential. In this weeks Billboard I read an article about RFID bracelets (radio-frequency identification) being used in place of cash at festivals. The fact that is technology was implemented, used, safeguarded and increased sales of concertgoers by 20%. This year Lollapalooza used the same technology and generated 33% of the revenue.
I believe that the music industry is not dead and that music does hold value. However, not everyone’s music has the same value. I feel that consumers are just bored with the spoon-fed ways of the music industry and their cookie cutter approaches. Consumers want to feel the excitement and hear quality music. They want exciting marketing campaigns and promotions, after all if labels aren’t excited about what they are doing how can they expect consumers to be excited.