The album is dead. Touring is on the fade. File-sharing is killing download profits. Adieu, music biz? Not so fast, reports The Wrap, which offers five fixes:
- Drop the price. Ninety-nine cents for a song? Try 10. "Lower the price point, and you undercut the very foundation of illegal downloading."
- Make like Jack White. He has three bands, opens his own stores, and feeds "a ravenous low-fi appetite among an ever growing legion of fans." Others need to march to their own drum. Like him.
- Duck major labels. Or use them only for distribution. The less corporate America gets involved, the faster music gets on iPods, with "a greater sense of personal connection" and more profit for musicians.
- Get into video games. Rock Band and Guitar Hero are obviously huge. Did you know the latter boosted Aerosmith catalogue sales by 40%?
For the fifth fix, click on the link below.