Re: The credit crunch + the internet and its effect on traditional media
Posted by: Cato Alumni ()
Date: April 18, 2009 02:18AM

"I agree to an extent. But you also have many, many people losing jobs because of it."

Loss of jobs come with change. It doesn't make sense to have people working in jobs that are obsolete. If the whole system becomes more efficient as a result, on net, more jobs will be created than lost in society. There's really two forces at work here: Technology has produced an efficient change in how the market operates; pirating has been an overall negative influence on efficiency.

"The attitude that certain things 'should' be free is what is the problem. And the internet has made people think certain things should be and are free because of the ease of access."

The 'net would have radically changed the industry regardless of pirating, because distribution and marketing would have been revolutionized. Technology has also dramatically cut down on recording costs. So these industries would likely been streamlined any way you look at it. However, pirating has undermined private property rights, and in that respect, have been a major drag on societal wealth.

"Music industry execs have always been scum bags looking to make more money than the person creating the product, but using that person as a means to an end."

I think this is a pretty negative view of people who, for all intents and purposes, have aided in delivering music to the masses -- to enable you to find out about a certain group and then enjoy the music. You take it for granted that an artist, left to his own devices, could produce and distribute his music to fans all over the world. In reality, they cannot do this. Execs only profit because they are doing consumers a service. They are nothing more than middle-men, facilitating trade between individuals.

Whether you think they were overpaid for this service is a matter of opinion, and not really an objective way of looking at economic organization. [Movie stars and most mainstream artists make a ton of money too, but somehow they seem to more likeable on this board.] Could you do what a music exec does any better or cheaper? I highly doubt it. At the end of the day, consumers "vote" with their wallet. Consumers forked over a lot of money for a long time because they felt, all things considered, buying a record for $15 was a good deal.

This whole notion that music quality suffered under the major labels, or that cds only had one good song, is a total canard. Industry profits were still incredibly strong leading into Napster and piracy. Talk of pushing "bad music" or "bad cds" doesn't really hold water -- people still bought records in droves. If music was really that bad, they would be buying it! It was only until people could illegally download and circulate stuff cheaply (basically free) did this whole paradigm change.. and in a big way. People then turned around and defended their illegal behavior by saying a cd isn't worth $15.

"Now, without those scum bags ponying up big promotional and marketing dollars, some product is of lesser quality and DEFINITELY less likely to be heard than before. It's a catch 22. Record execs deserve to be shot.."

I'm not sure why it's a catch 22. Execs and the music industry were efficient, for as long as it's lasted. They screened (so you weren't flooded with amateur music), marketed (so you know what to buy), distributed (so you could get what you liked), and supported emerging bands all to the benefit of consumers. And as a result, execs made a lot of money in doing this. This is not to say they always made the right choices, but it's hard to argue they didn't give what people wanted, or that anyone could do it better. They'd go out of business if they did not.

Now today they may be in trouble, but it has less to do with artist "exploitation" or failing to push music that consumers want, than it does with failing to adjust quickly to changing technology. Most major industries are guilty of that at one time or another.

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SubjectViewsWritten ByPosted
The credit crunch + the internet and its effect on traditional media 178 Russ 04/17/2009 02:14PM
Re: The credit crunch + the internet and its effect on traditional media 108 Burg 04/17/2009 03:19PM
Re: The credit crunch + the internet and its effect on traditional media 69 ARfm Studio 04/17/2009 04:15PM
Re: The credit crunch + the internet and its effect on traditional media 84 Boris Hollywood 04/17/2009 05:56PM
Re: The credit crunch + the internet and its effect on traditional media 77 Russ 04/17/2009 06:07PM
Re: The credit crunch + the internet and its effect on traditional media 74 Walk In The Shadows 04/17/2009 06:12PM
Re: The credit crunch + the internet and its effect on traditional media93 Cato Alumni 04/18/2009 02:18AM
Re: The credit crunch + the internet and its effect on traditional media 99 Walk In The Shadows 04/18/2009 12:41PM
Re: The credit crunch + the internet and its effect on traditional media 75 Goddess 04/20/2009 04:52AM
Re: The credit crunch + the internet and its effect on traditional media 85 Boris Hollywood 04/20/2009 05:08AM
Re: The credit crunch + the internet and its effect on traditional media 88 Walk In The Shadows 04/20/2009 08:59AM
Re: The credit crunch + the internet and its effect on traditional media 90 Goddess 04/20/2009 12:14PM
Re: The credit crunch + the internet and its effect on traditional media 85 Walk In The Shadows 04/20/2009 03:54PM
Re: The credit crunch + the internet and its effect on traditional media 79 Boris Hollywood 04/21/2009 07:15AM
Re: The credit crunch + the internet and its effect on traditional media 87 Walk In The Shadows 04/22/2009 10:46AM
Not only greed 95 Snake65 04/18/2009 07:59AM
Re: The credit crunch + the internet and its effect on traditional media 96 Bizz 04/17/2009 06:47PM
Re: The credit crunch + the internet and its effect on traditional media 94 Nick 04/18/2009 02:29AM
Re: The credit crunch + the internet and its effect on traditional media 71 Addyeddy 04/18/2009 02:54AM
Re: The credit crunch + the internet and its effect on traditional media 76 Boris Hollywood 04/18/2009 04:54AM
Re: The credit crunch + the internet and its effect on traditional media 107 Britny 04/18/2009 04:53AM
Britny 85 Snake65 04/18/2009 10:37AM
Re: Britny 83 Britny 04/18/2009 11:06AM
Re: Britny 76 Snake65 04/18/2009 12:58PM
Re: The credit crunch + the internet and its effect on traditional media 63 Peter M. Bietenholz 04/18/2009 07:16AM
Re: The credit crunch + the internet and its effect on traditional media 76 Russ 04/18/2009 08:57AM
Re: The credit crunch + the internet and its effect on traditional media 100 MICK THOMPSON 04/18/2009 11:00AM
Killed the manufacturing business 72 The Carl 04/18/2009 12:42PM
Re: The credit crunch + the internet and its effect on traditional media 87 Surfpunk 04/18/2009 07:34PM
Re: The credit crunch + the internet and its effect on traditional media 88 adguy 04/18/2009 09:35PM


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