Word: record
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Dates: during 2000-2000
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...they might also be one of the last. The Fisher deal is a vindication of the Internet's starmaking power, but it is also a sign that the recording industry is getting hip to the techie start-ups it once feared. So far the labels have been slow to respond to the challenges presented by companies like MP3.com which have flourished because of their immense selection of songs and tech expertise that old-media record labels can't match. Now even bigger threats are coming from the second generation of MP3 sites, like the 10-month-old Napster.com founded...
...this, finally, the moment every independent band in the world has waited for--heartening proof that in the age of digital music and the Internet, tyrannical major record labels have become as last year as Ricky Martin? Not quite. "There isn't an artist anywhere who, if they could get a good contract, wouldn't take it," Wasserman says. Indeed, last month they inked a deal with Jimmy and Doug's Farm Club, a new subsidiary of Universal Music named after Interscope co-chairman Jimmy Iovine and Universal head Doug Morris. Wasserman hasn't made an album on the label...
Some established artists are raising their Web profiles to escape the shackles of record contracts; others do it to pander to fans. Last year the artist currently known as The Artist negotiated a record deal that allows him to sell his CD from his own website. Aimee Mann bought back her master tapes from Geffen and is selling her new disc through the e-commerce site artistdirect.com Grateful Dead successors Phish put up free MP3s of some live performances, causing dramatic drop-offs in worker productivity in the San Francisco Bay Area...
...even in a digital world in which music is given away and traded free, record companies won't go away. Dick Wingate, senior vice president of Liquid Audio, a digital-music company that works with the major labels to distribute music in a copy-protected digital format, says that "there's too much noise out there. You have to find a way to let people know it's there, and that costs money. Record companies have the money...
Indeed, far from killing record companies, the Internet is spawning even more of them. "I don't believe that having 30,000 songs by any number of unknown artists is what the average consumer is excited about," says Al Teller, the former head of CBS Records and MCA Music Entertainment Group. Last year Teller founded an Internet record label based in Santa Monica, Calif., called Atomic Pop, which has released albums by Chuck D and Ice-T; they can be purchased from Atomic Pop's website in the form of a CD or a downloaded file. The musicians keep half...