Has music lost it’s value?
If Video Killed the Radio Star, have today’s DJs and portable music players killing music?
Not really, music is like a photograph, with a timestamp in time, it evokes memories and it is linked to many moments in time just like a photograph, and mankind cannot live without music, in good times or bad times, music is a comforter, therefore if you link it to it’s economic value, it will fluctuate with the times, but really, music has never lost it’s value, it is as precious as memories throughout time. If you understand this logic, you will understand the value of music, musicians are just as creative as economists and scientists, and will never lose it’s value.
The music industry is not doing well today because of too rigid copyright laws like IP laws, where it does not provide the greatest reach to use your works, creating economies of scale. Imagine if your contract specifies that whoever use your works to create new works, you are entitled to a smaller percentage of the margin, and if 1000 people use your works and these 1000 in turn triple, can you calculate the income? With the Internet I can easily sell my songs for less than $1, and those who use my works I only charge a few hundred, can you calculate the numbers? This also apply to inventions where the inventor charges such a high royalty that it does not reach the widest audience, where the knowledge of the extend of the markets is very important to prevent killing his own invention instead, if you can get numbers, and your numbers get numbers, I can easily concentrate on what I do best and never worry about income again.
P/S : This is my reply dedicated to Richard Marx.
– Contributed by Oogle