There's Still Money to Be Made in News and Music. Seriously.
Categories: Krist Novoselic: Contention & Conscious
All Beer Is Free For A Demanding Pomeranian
The Seattle Post-Intelligencer is up for sale and many say there will be no buyers. CD sales are in a tailspin and major labels have all but been proclaimed dead. But, despite the dire state of the industry, through a mix of technology and law, music as digital content is adapting to the Internet. A similar effort may provide news reporting a sustainable business model as well. Why am I so optimistic? It's simple: with such an overwhelming demand for media such as news and music, there will always be money to be made. There just might not be as much, and it's certainly going to be made differently.Our hunger for knowledge, entertainment and connectivity with others drives the initiative for better tools to obtain these things. The prospect of wealth has propelled the growth of Internet technology from the start. Ever heard the line, "Don't you wish you bought Google stock early on?" Of course I do, but I didn't, and regardless, many benefit from their search product.
Technological progress will accommodate the need to compensate content producers for the same reason - there's money to be made.
Did you ever hear the story about the band called FREE BEER? The idea was to have posters promoting shows that read - FREE BEER - and that pronouncement / promise would pull people to the show. (Of course, there would be no free beer and some potential patrons would turn away in anger at being duped.)
The idea of the free beer lure is analogous of the music file sharing controversy. For-profit companies like Napster wanted to be the portal for massive free music swapping. Imagine patrons at a tavern bringing beers in to swap with each other. But what happens when the bottles run dry? Would the patrons leave and return with more free brew? And where did they get it from: the miracle beer spring frothing with tasty suds? No, beer costs money and takes effort to produce!
Music, news and images are intellectual property. And like any property, there are laws that protect ownership. In the on-going file sharing controversy, the course of law has followed the rights of the property owner. (Blame the judges and not the bass player for this reality!)
This has resulted in mix of technological and statutory measures that hold tighter reigns on content. For example, the music industry is working with ISPs to keep control of content transmitted over the web. Once an unauthorized file-sharer is identified on a network, they're given a cease and desist warning that could lead to a lawsuit. As this technology / practice develops, it could control more information than just music - news content providers take notice.
The spark of creativity ignites attention. Writers, musicians, artists and other independents with something compelling to offer can also benefit as they control their own information. They can also join collective efforts to make sure they're compensated.
Venture capital is synonymous with the information revolution. It's only a matter of time until someone invents a way for journalists to get paid for quality reporting and institutions like the Seattle Post-Intelligencer survive.
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