Is this good? Musicians become venture capitalists

How do musicians make money today? Album sales are down 14%, single downloads are down 11%, and only the streaming services are up, 28%. Technology has forced music artists to completely rethink the way they approach their businesses. We’ve all had to adapt.

The most successful artists in this new landscape have begun to look at new business models and new industries to strengthen their existing brands. They’re extending their brand into areas like technology, gaming, fashion, and lifestyle content — essentially becoming entertainment platforms.

What Happened When Linkin Park Asked Harvard for Help with Its Business Model – Kiel Berry, Harvard Business Review (23 June 2015)

It’s a detailed and absorbing read but also a bit depressing. In order to keep going as a band, Linking Park long ago became a business. There’s nothing wrong with artists being business people, it’s even good that this is necessary, yet surely there are limits, right?

Linkin Park even sounds like an industrial estate.

Read the full piece.