Prince gives away new album, scorns record industry

Prince gives away new album, scorns record industry#94947

By El Scorcho - June 29th, 2007, 6:50 pm

- June 29th, 2007, 6:50 pm #94947

Full story here: http://business.guardian.co.uk/story/0,,2114557,00.html

Basically, he's giving away the new album for free in a Sunday paper in the UK. Why? Because the artists know the only people making money on albums are the record companies. If you have enough money to record your own album and put together a tour, you don't need a record label. The only thing they're good for is a cash advance, promotion and distribution. The Internet has taken care of the promotion and distribution aspects (not to mention stunts like giving it away in the Sunday paper), so why not just skip straight to touring? That's where the money is and bands are finally starting to figure it out.

Down with the RIAA!

"With the threat of hell hanging over my head like a halo..."

#94955

By Sly Fox - June 29th, 2007, 7:14 pm

- June 29th, 2007, 7:14 pm #94955

Its been a ridiculous business plan since the dawning of the industry. Truth be told, record labels aren't raking it in anymore either. Its further evidence of the evolving of e-commerce.

#95062

By mrmacphisto - June 30th, 2007, 12:45 am

- June 30th, 2007, 12:45 am #95062

The only thing record labels seem to do is sit back and rake in a portion of the artists' profits. The artists are the ones doing the hard work, selling CDs and concert tickets, etc. Labels really don't do a whole lot for the artist anymore. If they support anyone besides themselves, it's the non-artists churning out the type of garbage that gives pop a bad name, e.g. Britney, Hilary, Parisand American Idol alumni.