• In 1900 it was not clearly apparent how composers could best profit from motion pictures
  • In 1927 it was not clearly apparent how composers could best profit from talking pictures. 
  • In 1942 it  was not clearly apparent how composers could best profit from soundtrack albums. 
  • In 1947  it was not clearly apparent how composers could best profit from television. 
  • In 1970 it was not clearly apparent how composers could best profit from cable TV. 
  • In 1977 it was not clearly apparent how composers could best profit from home video. 
  • In 1980 it was not clearly apparent how composers could best profit from video games. 
  • In 1988 it was not clearly apparent how composers could best profit from live concerts.  
  • In 2007 it was not clearly apparent how composers could best profit from streaming. 
  • In 2019 is is not clearly apparent how composers can best profit from the huge industry shifts to new streaming services.   

NO EASY ANSWERS

History tells us some people have vision into where things are heading and how to use that to their advantage.  History tells us some people luck into new changes.  And history shows us that some people don’t adapt well into changes and suffer loss as a result. 

MY SUGGESTIONS 

Personally, over the last 30 years, I have been constantly reconfiguring my business models.   Changes and trends in the industry have required that.  Here are some basic principles I suggest:

1. ACCEPTANCE 

We all go through a DAMN. FUCK period when things that once worked for us a certain way start shifting away. But after a moment of frustration, the best viable option is to move on to NEXT!

2. NEXT

Ok, it’s not the same.  What does the new landscape look like?  Where are things heading?  How can you best profit from the new paradigm?

3. DIVERSIFY 

Don’t put all your eggs in one basket, especially baskets that are likely to yield diminishing results.  Which addition and differing services can you offer?

4. MAKE YOURSELF INVALUABLE. 

Pretty basic.  The more you are perceived as offering something distinctive and special, the more leverage you have in navigating new waters. Among the things you can offer to the next frontiers can involve:  your product (music, credits), process (systems of work) people (relationships, your team) and price (deal structures).  

5. TAKE RISKS

No one has a crystal ball.  Try a variety of approaches.  Some might work. Some might fail.  All will inform you about the next steps.  

6. ENJOY

There was never a time things weren’t shift and evolving.   Everyone lives during THEIR time.  Don’t waste it bemoaning the past.  If you are pursuing something you love, then enjoy it all, including the ups and downs.

YOU ARE 100% IN CONTROL OF YOUR ATTITUDE TOWARDS CHANGE.