Private equity and the music business

[Brad Little]

From the NYT.
Same Old Song: Private Equity is Destroying our Music Ecosystem.

 

[mavuser]

A lot of things destroyed the music ecosytem. Greed is at the helm of it all, but that tree has many, many, roots. I'll stop there as this is a non-political forum.

 

[Cougar]

From the article: "Buying up rights to a proven hit, dusting it off and dressing it up as a movie may impress at a shareholder conference, but it does little to add to a sustainable and vibrant music ecosystem."

Well, the owner of the "proven hit" is certainly making money -- pretty big money -- the article talks a lot about billions of dollars. So, this "does little to add to a sustainable and vibrant music ecosystem"? OK. But does it hurt the "music ecosystem"? I'm not sure I get the rant in the article....

 

[Teleguy61]

"Private equity" has a job in this world, and it is to monetize absolutely everything.

 

[Midnight Toker]

Not sure any of it is worthy of a gripe. I’m all for the artists getting paid and this is probably the last known way to get paid for rights to recorded music. The entire business is upside down from what it used to be. From the 50’s to the early 90’s, artists would break even (if they were lucky) busting their ass touring to promote record sales. Today they basically give the music away for free to promote a tour so they can even have an income.

Only way I see out is if artists band together and negotiate a much better deal on streaming/download royalties because the pennies they are being paid now is outright offensive. We are well past the time where iTunes can say,”well we created the platform that makes your music sales even possible!” And to top it off, when you click “purchase” on an album from a 3rd party service, you still don’t even “own” the album as it’s on a time limited lease agreement w/ the record company. (Same w/ streaming movies!) If that agreement dissolves, what you “purchased” will no longer available to you to stream/download. If you really want to support artists, only buy physical media! (While you still can!)

 

[tonepoet]

If you really want to support artists, only buy physical media! (While you still can!)

+1 on that @Midnight Toker.

I was 13 in 1969, so as a teen in the 1970s, it was all about vinyl records for me (I still have a 700+ album collection). I always enjoyed having the album cover in my hands as I listened to the music, to look at the artwork and read lyrics and liner notes. Cassette tapes and 8-Track tapes lacked that and CDs had everything in miniature. Streaming I've never done, so I can't say much about what's offered. However, I do hear that streaming is a lousy deal for artists.

 

[lungimsam]

So on vinyl and cassettes pre-1980, did we own those or was that stuff just licensed to us and we just didn't know it?

 

[Rocky]

So on vinyl and cassettes pre-1980, did we own those or was that stuff just licensed to us and we just didn't know it?

Technically, yes. You had a license to listen to it, but not copy it, and I guess the record company might have had a right to revoke that and repossess it, but good luck with that.

As for digital media, like CDs, I was always told that you should always have off-site backup copies of all your data. I was volunteering to do that for my local public library for a while.

 

[lungimsam]

Veer - I like old time radio shows. There’s a whole rabbit hole of copyright stuff for that, with the most extreme position (iirc) being that ALL shows recorded by and at the studios were never intended to fall into the hands of the public but were supposed to be destroyed. Meaning all OTR shows in existence today are in violation, according to this school of thought.
Then there is the other interpretation of the 75 year law. Also (and I find this really stretching the limits) if I legally own the copyright to, let’s say, the I love a Mystery show, (calling it the “Lungimsam’s I love a Mystery” production) well then Jim-Bob can record it then sell copies of his version, calling it his “production” because it is in his different cd presentation and packaging of the program, or something like that, even though I technically own the copyright of the “original”. It’s very nebulous and complicated. Seemingly unfathomable what the law about it really is.

 

[Midnight Toker]

Technically, yes. You had a license to listen to it, but not copy it, and I guess the record company might have had a right to revoke that and repossess it, but good luck with that.

As for digital media, like CDs, I was always told that you should always have off-site backup copies of all your data. I was volunteering to do that for my local public library for a while.

There has been legal precedent when it comes to books. (On the grounds that physical books were traditionally shared or passed down, ebooks are now, by law, allowed to be shared 5 times per purchase. There are numerous online ebook legal sharing sites. The same can be argued for the untold millions of blank cassettes once used to copy records to share w/ others. Same w/ blank cd's. People weren't buying high end open reel and cassette recorders to listen to crappy store bought tapes, that's for sure!

 

[jp]

This morning I read a somewhat related article about how technology and greed has led to a decline of the value of music as an artistic medium--sad but true.

It actually chronicles factors that led to the decline of Pitchfork, the online music magazine, but the writer points out key factors like file sharing and music streaming platforms.

 

[Midnight Toker]

Just heard rocks biggest sellouts just sold out one last time!

Kiss just sold their catelog, logo, likeness rights, (costumes/makeup) everything…..for 9 figures!! .

I would imagine only a handful of tunes have any buying power, and that astronomical figure is based more on merch and having hired gun musicians continue to tour in Kiss makeup/costumes under the name Kiss. They were always more of a brand than a band imo. They never got a single penny of mine.

 

[walrus]

Totally agree - from the start they were a "brand", and in all seriousness, they did that very well...

Kiss gets in the groove by selling its music catalog and brand for over $300 million

Although Kiss is no longer touring, Swedish entertainment company says it has big plans for the band, including avatar concerts.

www.cbsnews.com

 

[tonepoet]

I recall back in the 1970s sitting on the sofa with my Dad seeing KISS on TV.

I said to my Dad, "I don't get what people see in them"
My Dad said "They're Rock 'n' Roll Bozos"
"What do you mean?" I said
He said "Look at the audience. It's mostly young teens and pre-teens. This is a version of Bozo the Clown with Rock 'n' Roll music. You kids watched Bozo, these kids watch KISS."

I think he had a point there.

 

[tonepoet]

I would imagine only a handful of tunes have any buying power, and that astronomical figure is based more on merch and having hired gun musicians continue to tour in Kiss makeup/costumes under the name Kiss. They were always more of a brand than a band imo. They never got a single penny of mine.

I'm going to speculate that it will be like a "Blue Man Group" sort of thing where they can put anyone with musical chops in blue makeup and have Blue Man concerts happening all over the world simultaneously. I'm guessing this company will start auditioning musicians with KISS chops and put them in the makeup and have a Las Vegas show and shows in Europe etc., simultaneously.

 

[bobouz]

Sorry for the veer, but: I hated LPs (dropped or slid the needle & ruined albums trying to get to favorite songs) as well as cassettes (poorly recorded & self-destructing), but absolutely love CDs. My rant is that our new car has no option for a CD player, and the infotainment center is pure non-intuitive crap! Thankfully, I was able to rig up a portable CD unit into the car’s radio & speakers, but it’s certainly not ideal. Btw, the first LP I ruined in 1965 was the very first one I purchased (had only bought 45s up to that point): Beatles ‘65.

 

[Boneman]

I happen to like KISS and am not ashamed to say so. KISS is a very underated band, and I'm guesing most people that dislike them see the makeup and think gimmick, can't have talent.

You don't last 50 years in the business if you're not talented, just saying.

 

[walrus]

I saw them in '77 at the height of their early fame. The "Destroyer" tour. I was 17. As a fan of comic books, I thought the show was a blast! And yes, I liked the music, too! I bought "Kiss Alive" and "Destroyer" and played them loud...

I think I eventually outgrew their music, and/or my tastes simply changed. Never bought an album after "Destroyer". But if I hear "Detroit Rock City" or "God of Thunder" on the radio, I will definitely turn it up!

The make-up, characters, etc., was/is marketing genius. Period. As @Boneman said they would not have lasted this long without talent, but the whole marketing "universe" they created around the characters, etc., was a brilliant business strategy. They took the whole Beatlemania merchandise phenomenon and multiplied it times 10. And it is paying off for them once again.

 

[mavuser]

I happen to like KISS and am not ashamed to say so. KISS is a very underated band, and I'm guesing most people that dislike them see the makeup and think gimmick, can't have talent.

You don't last 50 years in the business if you're not talented, just saying.

they were/are talented, but their intentions were clear, and candid. They had a target market, and they hit the bullseye. I am jealous of anyone that was alive and in their prime to enjoy the 70's, regardless of tastes (I am born 77)

 

[Midnight Toker]

I'm going to speculate that it will be like a "Blue Man Group" sort of thing where they can put anyone with musical chops in blue makeup and have Blue Man concerts happening all over the world simultaneously. I'm guessing this company will start auditioning musicians with KISS chops and put them in the makeup and have a Las Vegas show and shows in Europe etc., simultaneously.

Well put it this way...one of the founders of the group that just bought all things Kiss is also one of the members of ABBA, who already was the one who spearheaded their hologram tour not long ago. You can see where this is going.