"User-generated content is one of the media and entertainment industry's
biggest threats according to a survey - a signal that some established
businesses are struggling to cope with some of the web 2.0 trends."

Well at least they've realised that DRM isn't the panacea they hoped it would be. I suspect that they will still make money, however. How? By controlling media advertising. Actually the more forward thinking execs are probably laughing all the way to the bank. After all, with Web2.0 they don't have to finance artists or pay for the costly manufacturing and distribution. They don't even have to step out of the office and go to a gig. They can just surf myspace and youtube and all the other self promotion sites, find the most downloaded material and sign the act up. Then just move the content to iTunes, apply the bare minimum of marketing budgets and hoover up the profit.

Anyone who hoped that Web2.0 would make the mainstream more accessible to individual artists is probably going to be largely disappointed. The artists that do make it to the mainstream will probably find they have shorter shelf lives and make less money, though the higher artist turnover will perhaps spread a little more evenly what little cash does make its way
out of the music industry (and we all know by now how industry treats
the actual workers) into the artists' pockets. What Web2.0 does do is allow the rest of us to create and share ideas and ultimately it's ideas that can change the world. The fifteen minutes of fame Warhol promised could help things along, but in the future that might be all anyone gets.

Powered by ScribeFire.