Telegraphers required great skill to do their job, but their profession became obsolete with the invention of the telephone. Record companies faced a similar situation when the internet was invented. However, record companies sold the need for their existence by saying that they support the musicians by spreading their art and funding them. Today, the free exchange of music online can do the same thing. Musicians make most of their money on performances and make very little on music sold to the public through record companies. Many even claim that the record companies enslave musicians. The record companies used their large amounts of money to work the court system to their advantage. Record companies should be a thing of the past. Society no longer needs them, and the internet can do the job that record companies claim to do.
Interesting point about killing off record companies. I am left wondering if they actually do anything worthwhile because many artists are still signing with them. I found this article that talks about some actual benefits of signing with a record company you might find interesting. It is kind of long though.
ReplyDeletehttp://www.theguardian.com/music/musicblog/2012/feb/02/behind-music-record-labels
My favorite part is the analogy of an artist going to a bank and asking for $100,000 to pay his living expenses for the next 4 years while he writes music. He assures the bank they MIGHT make it all back from royalties. The bank will send him packing but record companies actually give them the money every day.