That's the conclusion of Author and Singer-Songwriter Nathan Harden who writes that whilst
many people are familiar with the financial woes of the music industry. What isn't well understood, however, is how the economic misfortunes of the music business are transforming popular music itself,
The problem he sees is that record companies can no longer invest time and money in nurturing new talent
if a band's first album is not a hit, more often than not, that band is dropped from the label. No second chances. Most artists never turn a profit.
But more importantly whereas the digital revolution was supposed to empower musicians
hundreds of thousands of other musicians are competing for attention online. Winning new fans and staying connected to them requires tremendous marketing sophistication.
Interesting as people are claiming the I-PAD is the new I-pod will the publishing industry go the same way?