If you are not a regular reader of The Lefsetz Letter or are unfamiliar with who Bob Lefstetz is, take a second to bookmark his blog. He’s been publishing his rants/insights for 25 years and has a keen eye for what’s happened and continuing to happen to the music business today. His opinions are unfiltered, authentic and right on the money more often than not. While his blog tends to carry the emotional tone of a guy longing for the glory days, he also has the chops to dive deep into the business side of the game and shell out some A+ analysis.
In the following link, Bob cites an article from the OC Weekly online (read here) that highlights how old records (AKA catalog) are outselling new records. The OC Weekly article gives some juicy stats if you’re a numbers nerd like me and want to really get the whole scope of what Lefsetz draws out, but the important bit is at the end of Lefsetz’s post. Spoiler alert: you’re on your own. The major label money that used to be there to promote and foster the up and coming Artists is now chasing what’s left of the old copyrights that will be worth something for the next 20 years.
Digital is amazing for unfettered independent distribution, but who’s minding the gate? How many times did your tracks get spun today and where? Are you sure? The article leads to some interesting questions about how indie Artists will make money going forward, but I’ve always believed the industry was bloated at the top and needed to be trimmed anyway. Go get some butts in chairs so you can pay rent this month – and in the meantime, check out his post.