Record labels lose, fans and artists win

In a second article by Jason Feinberg on the future of the music industry he reports on some of the reactions of other industry insiders. They all agree there are fundamental problems and that a complete restructure of the music industry is happening with power moving from the labels to fans and artists. Fast Media Magazine will feature a number of articles on the music industry and possible business models over the coming weeks. There are clear similarities to other media industries.  In Fast Media Terms the title means: Movers loose, owners and users win. When content owners and users connect directly there is no room for movers of the media content.

Larry Weintraub, CEO of Fanscape writes:

Music is free. And they realize this. If people are willing to pay, they may do so. But the music is the gateway to the live show, the T-shirt, the licensing for a movie trailer.

The chances for becoming a star are slim. But they always have been. Now the artist is in control. They are not indebted to a major company that doesn’t really care about them. It’s up to the artist to make things happen

via MediaShift . Record Labels Are Losing Power to Fans, Artists | PBS.