'Music Industry Does Not Innovate'

LONDON, UK (MusicWorksUK Website) - At next week's MusicWorks conference (Thursday 31 - Saturday 2 November) it will be stated that the problems the music industry are facing are self-imposed.

Sholto Ramsay - (keynote speaker on Friday 1 November) and Futurologist with the Union Advertising Agency today stated:

'We all know the big music companies are suffering, but their diagnosis that it is simply their customers downloading MP3s that is to blame is incorrect. They are in their present situation because they stopped innovating twenty years ago. They have relied on the same tired business model since the 1960s, living off a set of mythologies and narratives well past their sell-by date.
Its time these companies take a good hard look at how consumers experience music and what those consumers really want. There is no problem with music: people listen to it more than ever before. Stop behaving like unreconstructed 1940s Hollywood studios executive executives buying and then selling talent and relying on the innovation at the periphery of the industry for your success.'

'The music industry is about ears, heads and hearts, not CDs, MP3s or the Internet. The big 5 are suffering because they have focused their business model on one product: CDs, and one way of selling that product. They lash out blaming others for their own problems. This is their problem: they no longer take interest in innovation, they serve the same meal in a million variants.
They think that they are privileged in someway.
Wrong.'