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~ Mike Masnick - The RIAA’s Playbook: No New Business Models Without RIAA Ownership (via artistspaid)By now, we’ve seen the pattern over and over again. The RIAA has always been unable to actually innovate with its own online offerings — in large part because the record labels still think about how to control the music and how to limit what consumers can do with it. So, instead of learning what’s innovative, the RIAA has simply decided on a two pronged strategy: (1) get every new and innovative site shut down and (2) offer them one way to return: if they hand over a big chunk of equity.
Very few people seem to be talking about this, but most of the “agreements” that the big labels have reached with various new and innovative sites have involved handing over equity. Basically, the record labels are using a protection racket system: give us some equity, or we’ll shut you down. Of course, all this is really doing is slowing down much needed innovation in the music marketplace. Instead, we get bells and whistles like MySpace Music (owned, in part, by the major record labels), rather than something truly useful and innovative.
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