Study Shows End Of “Hit” Music Era
Wired Editor Chris Anderson coined the term "The Long Tail" to describe how the net is causing the end of the mass mega-hits in all media and the opportunities for long term monetization that digital distribution create. Andreson suggests that it’s time for record labels and other media companies to look at new long term strategies for finding profits rather than the quick hits of yesteryear.
To prove his point that the hit era is ending Anderson analyzed RIAA data for gold and platinum album sales awards ad came up with this these revealing charts that show the dramatic decline in mega-sales awards in recent years..
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There are still going to be hits…but the definition of a “hit” is going to change. It *should* reflect the many ways the music of an artist can be purchased — album, single, ringtone, video, etc. While the album is hardly a dead format, it’s definitely old fashioned. Believe me, labels are looking beyond the album. Change in this industry is a long process. The problem is the album is still everybody’s bread and butter. It’s hard to be less attached to the format that keeps you in business and pays the bills.
Also, I believe the top graph counts the same album multiple times. Maybe not, and I hope not. For example, an album that in a single calendar year sold more than two million units would be counted three times (gold, platinum, multi-platinum).
I think the definition of “hit” will always be the same to the major labels . It’s how much money a particular ‘unit’ of recording item gives them.
I am pretty sure by now, the biggest hit, if we are talking any type of music, is not those ‘CD album’, probably it’s some midi, or freebie phone ringer, or some other free media on the net. Who can count those stuff?
One tech, I think will absolutely kill record company if they decide to fight war against it. Voip handheld. Those little critter is very powerfull and going to change thing forever.