On the economics of new media…

Shane has a refreshingly non bloggy angle on what new media is doing to established business… 50 Cent takes up the story:

“The advances in technology impacts everyone, and we all must adapt. Most of all hip-hop, a style of music dependent upon a youthful audience. This market consists of individuals embracing innovations faster than the fans of classical and jazz music. What is important for the music industry to understand is that this really doesn’t hurt the artists.”

Even more to the point:

“The concerts are crowded and the industry must understand that they have to manage all the 360 degrees around an artist. They, [the industry], have to maximize their income from concerts and merchandise. It is the only way they can get their marketing money back.”

An industry that has for generations used recorded music to subsume the interests of recording artists to a superstructure of managers and gatekeepers is finally feeling the pain now that artists and audience can find each other without their help/sayso.