20 June 2017

Lefsetz Letter: “Katy Perry’s Failure”

We’re evolving. But Perry decided to live in the past. It won’t be long before there are no albums, just a continuous stream of product, driven by hit singles. And if you do have an album, you release the hit at the same damn time, to get all the additional streams. Think how stupid this is, putting out a teaser and building momentum for a sales event that doesn’t matter. At least, unlike in the last century, you can buy and stream the single, there is remuneration, but today you strike when the iron is hot. The new paradigm is instant release, with the hype coming AFTER the project is available. And that makes sense, you want to reap all that revenue. What does being number one on the “Billboard” chart give you… BRAGGING RIGHTS IN A SCHOOL THE FANS ARE NOT GOING TO!

Bob Lefsetz

Just like TV, music listening habits are changing rapidly towards streaming, and the music business and artists need to quickly adapt to new ways to generate revenue and catch the public’s attention. As if we needed further validation of this trend, earlier this month Taylor Swift re-released her back-catalog on Spotify, after removing it from most streaming services three years ago.

Katy Perry - Swish Swish

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