June 10th, 2010 
Cliff Riseborough 
Thom Yorke, front man for Radiohead, believes that the major music labels are on a collision course with an iceberg named collapse. Not exactly surprising in itself, except perhaps for his time frame.
He says, "It will be only a matter of time – months rather than years – before the music business establishment completely folds. (It will be) no great loss to the world."
Yorke warns upcoming musical artists against signing traditional recording deals on the dotted line, as doing so would “tie them to a sinking ship”.
Radiohead broke away from their label in 2007, and have been independent ever since. They actually started the ‘pay what you want’ online release model for music with the initial digital release of their In Rainbows album.
I don’t necessarily agree with Mr. Yorke on his ‘doom within a year’ target, but if the music labels don’t change the way they’re doing things in the digital age, their long term existence does seem to be very much in question.
(Thanks to contactmusic)
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I have my doubts concerning a music industry collapse. I’m sure most of us would cheer the notion on, however there’s still way too much money to keep it afloat for (probably) decades to come.
Sure, Radiohead’s, former label, EMI is in a bind, but were there’s a vacuum, it is soon replaced by another label. Universal being one, who recently obtained the Queen catalog, which brings with it a 300 million unit seller.
I’m a fan of Queen, but I hardly see signing a band that’s essentially been finished for 2 decades as a major business move that will cement a record company for years to come.
The biggest mistake that the labels made was two fold. First, taking too long to get in to digital music. By the time they took it seriously, they were in a position of having to beg other companies to let them in…for example, iTunes. Who’s wearing the pants in THAT business relationship? Secondly, they put so much emphasis on the hit single that they put a bullet in the head of long term artist sales. How many acts that have a hit song are ever heard from again? Sure, there have always been one hit wonders, but that’s all that seems to exist in the popular music spectrum these days. And if all you have are one hit wonders, there’s no long term sales and stability left.
Queen was an example of saying ‘even the old acts can make money’, kind of thing. Plus the reason they pump out one-hit-wonder is because the sell; by the millions.
If people didn’t by the junk that’s out there nowadays, the industry wouldn’t offer it. But it does, unfortunately as there’s no accounting for taste, not to mention an overwhelming populous of tin ears.
As far as the digital market, I’m not sure. People still like their compact discs, transfer to other formats, etc. You know it’s messed up when Barbie’s Greatest Hits sells more than say a new Rush album.
And as long as older acts such as Beatles, Stones, Queen, and so on keep selling, it’s not a bad move, since it’s the icing on the cake.