I just read this longer NY Times article online about Rick Rubin and his position over at Columbia Records. It was indeed a long reading, but very interesting.
About half-way in the article he finally talked about his solution how to solve the problem with today’s big labels that are indeed totally out of sync with business realities. And that is to provide a subscription service where all music is available, so the end user could just pick up anything he or she likes.
The record companies are indeed worried about this solution, as they can’t really control the outcome of such a big change in their business models. But as he said himself, if this won’t happen by the companies, their stock prices will go down, and then someone else will pick up the companies for cheap and launch this idea.
We who work with smaller labels, we have very little to say about this, but I don’t see anything else than good appearing from such a business paradigm shift.
Rick Rubin, by the way, is quite a fascinating character, if you read the whole article. I must salute to him, as he was one of the key players, the owner of Def Jam, to get hip-hop out to the big world.
I also liked his views about music production, where his key focus is good songs, or tracks, timeless pieces. So true.