Last night I saw Ringo Starr on the Late Show, playing the lead song to his new album Liverpool 8.
Here’s what’s different. The album is a 2GB Flash Drive embedded into a rubber bracelet, of course the name of the album is on the bracelet and the price is around the same as any new album. $20 from memory. As well as the album the contents include a music video, interviews, photos and more.
If you buy the album, you will probably want to wear it because it is novel and this being the first time it has been done (to my knowledge) it will become a colectors item. This could become the ultimate fashion wear for 2008. What are you listening to? Check it out on my wrist. The only drawback is that you can’t plug it into your car stereo or your iPod, but that will no doubt come if the concept takes off.
Storing multiple albums could be a bit of a problem, but I’m sure there will be appropriate refinements.
About 8 years ago I tried to get the local media to publish a story I wrote, saying that if the music industry doesn’t take care of their music buying public and take advantage of the capabilities of new media such as adding video, interviews, photos etc to albums, they will have a hard time competing with downloads. But if they add so much material (that they have anyway and don’t generally sell) so that it isn’t worth the hassle or cost of downloading everything, they will be in trouble.
The media didn’t want my story because it was controversial and probably because a lot of there advertising revenue came from the record companies. Hey guess what, yeah I was right. Now I’m not super clever, I’m just being logical. I think the record companies were arrogant and had the attitude of some Japanese manufacturers of a decade ago, who said to their customers, we will tell you what features you want on your products and how to use them, but that’s another story.
The point is, we are in the world of new media. Consumers have loads of choices. BUT, they are prepared to pay for value. EMI, Sony etc. if you want to keep your market, you need to give value. If you don’t you may just find that you aren’t needed or wanted any more. It’s not too late, but you need to understand, its not just about the media you print your music on, it’s about being innovative, listening to your customers and being innovative, fun, inspiring, sticky and giving value for money.
Instead of sacking your staff, sacking your entertainers and making them do their own promotion, how about talking to them. There’s a novel idea. Here’s the question. It’s 2010 and the music industry as we knew it has collapsed. It has taken with it major printing companies, media companies, wholesalers and retailers and increased unemployment noticeably. If you were able to go back to 2008, what would you do differently?