Turning the tables

Right now traditional record companies, labels and artists are somewhere between trying protect their traditional way of doing business and developing or embracing new ways to get paid.

It is interesting to see initiatives such as the iTunes music store and the PlayLouder MSP pulling the music rights holders to new business models.

Pushing them with fresh competition on the other hand are new media companies who start out with new business models and new talent. If some of that talent becomes competition for the artists that are managed by the traditional labels, this will turn the tables and the new players will have some good assets to negotiate with.

Traditional media such as radio and TV will have to deal with the newcomers and their terms to be able to play the new music!

For some example newbies, see: Tables Turned, the podsafe music network and Garageband.com.

I think this will make the transition to new business models much smoother: Podcasting is already happening, it has a big reach and new artists are already being 'made'. New companies are starting out with new business models and are demonstrating what works and how. Traditional companies don't have to design, develop and test new models anymore: they can just look around them and adopt what works. Or lose money.