Record business undervalues music - Tess Taylor of NARIP

LOS ANGELES (NARIP) - "The record industry is taking its lead from merchants who use music to sell other things like computers, advertising, soda and iPods. Music has been denigrated to the cheap lure of promotional value," said Tess Taylor, President of the National Association of Record Industry Professionals (NARIP), addressing some of the current challenges facing the record business at a recent Future of Music event hosted by the Digital Coast Roundtable.

Prices for downloads from online music services also came under fire. "What is affecting the record industry the most is the undervaluing of music itself" by charging too little for each song, which "is destroying an entire industry," Taylor said. "These price points acquiesce to the demands of bootlegging and to outright theft."

Positives outweighed negatives in Taylor's presentation. "One of the finest inventions of mankind, the music that civilization has created over centuries is all there to delight, amaze, entertain and satisfy listeners," Taylor said. "It's an art form with high and enduring value." And "there is still much opportunity, intelligence and good judgment in the record industry, and reasons to believe that the challenges we face can be overcome."
"The common theme among students and artists in the U.S. and abroad is a desire to get into the music business," she added, "and the American music business specifically is still one of the most desirable places to be."

Following Taylor's speech was a panel discussion on the new business models emerging from technological advancements affecting music and marketing. Panelists included Loudeye CEO JEFF CAVINS, MusiKube CEO ASHLEY HEATHER, Universal eLabs president LARRY KENSWIL and Sony Connect general manager JAY SAMIT.
The Digital Coast Roundtable event was part of its "What's Next?" series held at the Peninsula Hotel in Beverly Hills.
READ THE COMPLETE TESS TAYLOR SPEECH: The full text of Tess Taylor's speech is available at https://www.narip.com. The National Association of Record Industry Professionals promotes career advancement, continued education and good will among record executives. Tel: (818) 769-7007.