Frank Rose, contributing editor of Wired interviews David Pakman, eMusic’s CEO answers what’s a label going to be in the future? Great marketing companies. Perhaps more like an ad agency. Focus on certain market segments. Major labels good at creating celebrities.
Indies have had a better model in place for longer. 360 deals good for small-medium labels, but he sees larger, more dramatic changes ahead for the majors.
Music industry has embraced consumer desire for digital singles. His point: You have to let the customer buy what and how they want.
Rose: Recommendation engines, music discovery.
Pakman: This is the best possible time in music. You can hear anything you want, anytime you want. eMusic focuses on selling the long tail. Last.fm, imeem.
They outsell iTunes in classical, Jazz and Blues. Their customer base doesn’t buy Jay-Z.
Frustrated by debate over access vs. ownership