Music & The State Of The Economy
The music industry has been hit with a double whammy. Sales continue their decline and the global economy is in the midst of the the deepest recession since World War II. Layoffs, consolidation and much less venture funding are just a few of the obvious signs. But from adversity can also come opportunity. Waste is trimmed. New companies emerge where market leaders falter. In addition to our regular coverage and commentary, this week Hypebot will explore how this dual downturn is effecting the music industry. Today the series starts from the artist's point of view: one who lives and sings about it and another who sees her fan's troubles and is making a small gesture in return.
- The Reverend Peyton's Big Damn Band: This Band Plays Rough Music For Rough Times
- Lucinda Williams: High Tickets Fees And Tough Times Don't Mix
Plus we want to hear from you. What effect is the economy having on you and your business? What opportunties do you see? Some Hypebot readers got the discussion going here. Leave your stories and comments there or anywhere you see a Music & The State Of The Economy story. We'll share some of them in a full post later this week.
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I’m paying very close attention to the economy and how it is impacting all discretionary spending. I have to assume that music-related spending is vulnerable.
It’s hard, though, to gauge sentiment by talking to people in music because some will tell you how bad it is and others will say it’s looking good.
Those who have been doing it for a long time can tell you how this year compares to past years. And I think many of them are seeing less money coming in.
On the other hand, those who are new to music and those who are launching new projects may be upbeat because going from zero income to some income might look good. It’s only after they have been in it awhile do they evaluate whether or not what they are bringing and are likely to bring in is sufficient.