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Thinking short term is hurting us. Every leader in charge thinks about the now and never about what’s around the bend. The majority of people in charge of corporations only care about the now. What is our bottom line looking like? There is no care about their environmental footprint or employee well-being.
Record labels are the same. They focus so much on first week sales and charts as they believe it brings in an instant payday, without understanding that the payday they are really earning is from music created 30 plus years ago and it just percolated, slowly rising to the top.
Have you heard of the record labels starting to employ artists as employees and offer them retirement plans?
Of course not. That’s long term thinking.
So Disney is pulling its catalogue of movies from Netflix in 2019. As a Netflix user, I say who cares. I never started subscribing to Netflix because they had Disney movies. I started subscribing because I wanted Netflix Originals. And with the addition of a comic book company with a cult like following, Netflix is looking at creating its own shared universe. It’s positive and long term thinking.
How often do we hear that people have no reason to pirate from the movie studios and record labels, as their catalogues are available online legally?
Amnesia seems to be the order of the day for the labels and studios because the online legal alternatives are fragmented. And as long as fragmentation exists, the pirate sites will be numero uno for content consumption. Same deal for music that’s available on Tidal or Apple and not on Spotify and vice versa. It’s ridiculous. So are consumers meant to have three streaming subscriptions for music and another ten streaming subscriptions for movies/TV. I don’t think so.
Consumers don’t want to have a dozen or so subscriptions. Just look at the cable TV industry. Too many subscriptions are expensive and not manageable, especially when these streaming sites are competing with illegal streaming sites who offer everything on the same site. Illegal streaming sites also show the content industries what kind of supply consumers want. At the moment, the content industries are focusing on the payday right now which means limiting the supply instead of the payday in the long term which means to open the supply and get more people to subscribe.
So what would Spotify do if Universal, Sony and Warner pulled their music from the service and started up their own service like Disney?