Record companies are like the Democrats, they refuse to innovate, they refuse to embrace new strategies, they refuse to live in the now, never mind the future.
WHAT?
If you follow the Street, which most musicians do not, you will learn that the stocks of record companies are moribund. Yet Spotify is flourishing. Why? Because of innovation. Analysts and stockholders believe there's upside with Spotify, and they don't see the same with the labels. They believe the labels are tied to the revenue of streamers, and a lot of the innovation at Spotify is not about music, but listening...i.e. audiobooks and more.
I want you to read this story from today's "New York Times."
I know, I know, you hate the "Times," but please overlook that.
"MeidasTouch Pops on Podcast Charts as Progressives Search for Answers - The company is a leader among numerous digital-first outlets that have been reshaping the progressive media landscape since President Trump took office."
Free link:
www.nytimes.com/2025/03/09/business/media/meidastouch-podcast-democrats.html?unlocked_article_code=1.3U4.khHV.kiVP2JIy3wzV&smid=url-share Here's the money quote:
"But perhaps no metric underscores the new attention to progressive media more than last month’s revelation that “The MeidasTouch Podcast” had usurped Joe Rogan’s show atop both Apple’s and Spotify’s rankings for downloads, a slot the show held for two weeks. (Mr. Rogan reclaimed the top spot this past week.)"
WHAT?
I know about Meidas because of my inbox, people have been telling me they listen to it.
But I had no idea they beat Rogan. This is flabbergasting.
However, the devil is in the details:
"Mr. Meiselas and his brothers, Brett and Jordy, post a dozen or more 10- to 20-minute-long news segments — nearly all featuring the search-engine-optimizing word 'Trump' in their title — on YouTube every day. That torrent is supplemented by other shows produced by MeidasTouch contributors."
THEY'RE FLOODING THE ZONE!
This is exactly what made Jesse Welles successful, along with the content of course. Instead of playing the usual streaming game, coming up with a track that people will hopefully listen to on a service, he went on social media with a plethora of tracks and the end result is even though his paid streaming numbers are anemic, he can sell out venues.
You can beat the system. Of course you need to be good as well as innovative, but...in a world where there's a tsunami of product, how do you get and keep people's attention?
You've got to be in front of their eyeballs each and every day. The influencers know this, how come the musicians do not?
This is why I laugh at authors. We hear for a year that they're writing the damn book, it sits at the publisher for half a year after that and it comes out and sells a few thousand copies. What a wank. A waste of money, time and effort when you can send an e-mail and reach many more people each and every day. Sure, you'll end up with a physical book that you can use to impress your mother, but in terms of impact? De minimis.
"That constant stream of bite-size content gives listeners more episodes to download, helping to lift the outlet’s ranking on podcast charts. In February, MeidasTouch had 57.5 million podcast downloads, according to Podscribe, a tracker, ranking it ahead of 'The Joe Rogan Experience' and Candace Owens’s podcast, even though they had significantly more listeners per episode."
There's more than one way to skin a cat. Rogan and Owens may still have more overall listeners, but Meidas made it to the top of the chart, which generates its own benefits. Medias is working the system, like labels used to do at radio and the charts.
But as antiquated as the labels are, the artists are worse. They want to make albums and bitch at Spotify, et al, that they're not getting paid. There is no innovation.
And, of course, distribution innovation only works if the product is worth consuming.
But if all the money is in touring, why is your focus solely on streaming?
Sure, everybody's trying to go viral on TikTok with their track, but Meidas illustrates you need many tracks. And that your hard core fans want more and more.
BUT THIS ISN'T THE WAY WE'VE ALWAYS DONE IT!
Enough with the "Spinal Tap" response. You can do it a new way.
The record labels tried to bolster their bottom lines by stealing from artists...with percentages of touring and merch while delivering nothing in return. They sign acts and wait for them to be streamed and to get paid. The execs are as brain dead as the ones who ceded the business to Napster.
Music is competing with YouTube, TikTok, video games...and what do we get in response? Overbaked tracks made by committee that slide off the backs of most people.
You need to check out Jesse Welles, he's new and different. You don't need to listen to the new Lady Gaga album.
I'll give Chappell Roan credit, there's some innovation there. Furthermore, the bounce came from, the tsunami started, on the road, not on streaming services.
But the rest of the acts?
People are drawn to innovation.
And right now that innovation is in spheres other than music. Podcasts, TikTok... But like the Democrats, the artists and labels can't question their beliefs, their structure, can't look to the people and what they want and adjust in return.
People like the new and different.
You dropped an album on Friday, WHO CARES!
You can't write a song every day?
Well, maybe if you learned how to, you'd become a star.
There's a lot going on here, but most people's heads are buried in the sand.
But not Meidas.
And hopefully not you.
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