Clear Channel Communications, Inc. (NYSE:CCU) is a global media and entertainment company specializing in “gone from home” entertainment and information services for local communities and premiere opportunities for advertisers. Based in San Antonio, Texas, the company’s businesses include radio, television and outdoor displays. Keep that in mind when you read the following. I came across an interesting piece on Tech Crunch, on 50 Cent’s views about file sharing:
Q: “How are G-Unit Records doing in these times of file-sharing?
“Not so good….The advances in technology impacts everyone, and we all must adapt. Most of all hip-hop, a style of music dependent upon a youthful audience. This market consists of individuals embracing innovations faster than the fans of classical and jazz music.”
“What is important for the music industry to understand is that this really doesn’t hurt the artists.”
“A young fan may be just as devout and dedicated no matter if he bought it or stole it.”
“The concerts are crowded and the industry must understand that they have to manage all the 360 degrees around an artist. They, (the industry), have to maximize their income from concerts and merchandise. It is the only way they can get their marketing money back.”
“The main problem is that the artists are not getting as much help developing as before file-sharing. They are now learning to peddle ringtones, not records..They don’t understand the value of a perfect piece of art.”
If that is the case, then companies like Ticketmaster would do well if they were a part of the record label ecosystem, but CCC would kill. After all, they own:
- Radio stations (#1 in the US)
- Events and shows (#1 in the US, too)
- Outdoor traditional and digital signage (#2 after CBS)
Maybe they should look at buying a few of these labels, no? They did $1.6B in sales in the 3rd quarter… so they might not be able to buy up everyone, but I guess they’d be a helluva target then.
Related:
- Get Rich or Die Trying…
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