Napster Co-Founder Sean Parker Says Now Is The Time To Invest In Music
Sean Parker, the co-founder of Napster and Spotify investor, says that now is the time to invest in music. He's particularly interested in the record labels and publishing companies. “In the last 10 years we have presided over the greatest destruction in value in the history of the music industry,” Parker said during e-G8 conference this week Paris.
The $45 billion recorded music industry has been “brought to its knees” to today's value of $12 billion, according to Parker. “Assuming we can stabilize things and restore growth, it shouldn’t be that difficult to preside over the greatest increase in value in the history of the recorded music industry.”
Parker sees particular value in back catalog, which motivated his role in a recent unsuccessful bid for Warner Music. People are building playlists and on services like Spotify, in which Parker is an early stage investor, its catalog that is driving consumption.
“I think that there is a pretty dramatic change in the way music is monetised that is on the cusp of happening. Back catalogues of record labels are going to become extremely valuable,” he said adding that music publisher catalogues are increasing in value as well. “If you believe this transformation is occurring, if you believe the broken distribution systems are on the verge of being fixed, those recordings are dramatically undervalued.”
We also believe it time to recognize the value of US Made Music to the economic bottom line of the U.S. It important to getting the U.S. back to exporting Art not Bombs which will also improve our image and standing in the world.
@altavozdistroco Has considered using clicks to help sell to bricks over the last 16 years; And we welcome Sean’s growth in understanding that we have to all work together. When we do it’s not just Win Win it’s 4Wins… Let’s Listen Together.
http://BuyIndieSupportLocals.org
I really hope the “future” of the music business isn’t in “back” catalogues.
I hear you brother!
Worldwide Music will never recover until it improves.
The focus on such shows as X factor alone will bring the biz to its knees.
Whilst artists and their managers continue to use the same old tired writers amnd producers and release sub standard pop tracks such as Britney Spears “hold it against me” there seems little hope.
I also hope the “future”” is NOT in back catalogues.
Music biz !!!! Do some work for a change and get out there and LOOK for new and real artists !
Yeah i can see how he would think the future of music is in it’s back catalog…there is so much crap out there now that when you do listen to itunes radio or pandora..you are completely blown away by the songwriting/musicianship/production/sonic quality of the music….it almost make you cry or gives you goosebumps..i know it does to me….so when labels do not invest in artists making real music this is what happens my friends….technology has moved forward to take us backwards….put an album on a turntable and you’ll get the picture