NIN and the new music industry
Posted by Anna Volftsun
Trent Reznor of NIN gave an interesting Q&A session with Digg founder Kevin Rose. NIN is a great example of an artist who has managed to keep up with technological innovation and make a profit pursuing an alternate business model that doesn’t require a record contract. His take on the current music industry is that it is in serious flux as the recording label model becomes obsolete and a new dominant revenue model has yet to emerge. In the future he envisions more artists doing what he has done and embracing technological change in pursuing musical and financial success. While acknowledging that the business model NIN has developed won’t work for every artist, Trent remains convinced that online distribution is central to the future of the musical industry. The advice he gives to new artists who want to make music that will “change the world” is to take advantage of the distribution channels afforded by free online file sharing to build a fan base and earn a profit. There’s a lot of opportunity for change in the music industry that could be good for consumers like Joel and artists like Nine Inch Nails. We’re trying to push back on traditional notions of fair use and liability for music downloads, and we hope that more artists like Nine Inch Nails and Radiohead will encourage the labels to think innovatively.
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