The Old Music Industry Is Dead: Apple Launching Record Label With Jay-Z

Illustration for article titled The Old Music Industry Is Dead: Apple Launching Record Label With Jay-Z

Looks like there might another major announcement at MacWorld. BGR says they've "confirmed" that Apple is launching a record label with Jay-Z, who's set to step down from Def Jam. Jay-Z and Jobs are both brilliant businessmen, and the move would make sense on a number of levels: The labels almost view iTunes as a competitor now, the industry landscape is rapidly transforming, and whoever finds the magic formula for a new kind of label/distribution firm stands to make a lot of money as they establish the new paradigm of the industry. And iTunes already is something like a label. This could be megaton big, if the rumor is true. [BGR]

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DISCUSSION

@djdare:

I perfectly understand your point. In fact, I've been advocating for such a model ever since Apple started the iTunes music store (not that any of you would know about it, but hey).

Essentially, to those who buy music through iTMS, what label/record company published that music is pretty much irrelevant. It would be absolutely beneficial for artists if by signing with the Apple/iTunes label, Apple only takes the same or marginally higher cut from the sales as they are now, and the artists get to keep the rest. Basically, cutting out the middlemen, who are the record co.

Of course, there is the off chance that all Apple wants to do is take the place of the big labels, become the evil empire itself@djdare:

I perfectly understand your point. In fact, I've been advocating for such a model ever since Apple started the iTunes music store (not that any of you would know about it, but hey).

Essentially, to those who buy music through iTMS, what label/record company published that music is pretty much irrelevant. It would be absolutely beneficial for artists if by signing with the Apple/iTunes label, Apple only takes the same or marginally higher cut from the sales as they are now, and the artists get to keep the rest. Basically, cutting out the middlemen, who are the record co.

Of course, there is the off chance that all Apple wants to do is take the place of the big labels, become the evil empire itself, and (1) alienate all the other labels, like many people have pointed out, and (2) giving other companies to take it down, as Apple took down the biggies itself. They'd be fuckin' stupid to even try to pull that off, but sure, the possibility exists.

But let's wait before we make that judgment, eh?