The music industry is doomed. Like the newspaper industry, car companies, housing, etc. Except none are really doomed, they just need a reboot. The old ways of doing things is doomed.
So what about music? I still buy albums on iTunes but I also buy single songs. The problem with the music industry is that when you like a musician you usually get a new album once every two or three years. In a world that is moving so fast that is a mistake.
If I was an artist I’d abandon albums. I’d release two songs every three months. If an artist wrote twelve songs ever year and a half they’d have enough songs to constantly stay in listeners ear. It would probably also keep these bands creative.
So, rather than going on tour for two years and then trying to remember how to make an album they could do micro tours. An artist could tour for a month and then working on songs. Someone who is really prolific could release a song every month or two.
I’m not saying this is a perfect formula. My point is that artists and record labels need to rethink their industry. The best feature of this approach is that you don’t panic when a fan doesn’t buy all twelve songs from an album because they buy one or two at a time and they know they are good. If they aren’t then there is no one else to blame. Not to mention the extra money from ringtones. I’d also make sure all my songs got into video games like Rock Band and Guitar Hero. Not months later, the same day as they are released.