Have Music Labels Adapted to the Digital Age?

Today, hip-hop and the music business in its entirety, has undergone a transformation of sorts. For every blog, weekly mixtape, and EP, the consumer’s accessibility to music has reached an all-time high. However, along with the ability to hear your favorite artist wherever and whenever, the value of these pieces of work has substantially deteriorated. No longer is the audience willing to wait for complete and concise bodies of work, instead they demand that artists churn out more and more quality material frequently. Along with this dilemma artists face, record labels are finding it increasingly difficult to leverage revenue in the digital age.

Record sales, which have traditionally served as a reliable source of revenue for record labels, have been on the decline for the last decade. In response, these labels have struggled with how to market their artists to grass roots blogs and internet taste makers. While labels have began to make adjustments to their business model, they are still adjusting to the reality that music can be consumed free of charge. Once the masters of marketing that could push almost any marginally talented artist, record labels are no longer the same reliable “machine” that artists long to sign to.

Now, more than ever, artists with the internal infrastructure have incentive to work independently and keep a greater portion of the revenue they make through record sales, merchandise and tour dates. This change in approach reflects the fact that artists have a better understanding of their fan bases than labels do. Moving forward, it’ll be interesting to see how many artists decide to cut out the middle man and connect with their fans directly. This personal relationship is something new and established artists should embrace and expand upon since Twitter, Facebook and Instagram prove that this business model can work if properly implemented. It’s time for the industry to build upon bold ideas that will ensure the future of quality music is bright.