Sunday, April 13, 2008

Innovation in a turbulent music industry

The future of entertainment is murky at best. Declining sales in music and increasing piracy a la P to P networks have disrupted the traditional business models. The entire entertainment industry is going through another growth spurt as companies struggle to determine how to leverage new technologies and paradigms.

History teaches us that established institutions react with fear and resistance as these new technologies take root and grow. Before they take root and grow, a lot of various business models will be thrown against the wall as the industry starts to filter the wheat from the chaff.

This creates an amazing and constantly changing landscape for consumers. Take Radiohead and Nine-In-Nails. Their innovation promotion strategies have elicited the buzz with their fans reaping the benefits. Wired.com compares the escalation of innovation between Reznor and Radiohead.

No comments: