Industry looks to the past, not the future
Music may have been the first media format to be upended by digital, but it remains deeply challenged even as video, publishing and gaming continue their path forward (however modestly). If the industry hopes to restore growth and fix the problems with today's streaming models, it needs to confront its evolution: how have ecosystem revenues – from albums sales to concerts, radio plays, digital downloads and streams – changed and been redistributed? What is the underlying value of music? Did streaming erode this value or correct it? What's the logic behind streaming royalty models and where are its flaws and decencies? How can it be improved? After 15 years of declining consumer spend, it's time to stop focusing on what was or “should” be. Industries don't rebuild themselves.