26 Screenplays

On this Planet Money podcast, the lead singer of OK Go about the music industry, or, rather, how the internet has changed the music industry over the past couple of decades.

Essentially, he says that we are living in interesting times.

The podcast discusses the traditional financial model of the music industry and comes to the conclusion that the traditional industry is no more. Instead of building your band to the point where a big company gives you a record contract, there are no barriers to entry. The internet has made it possible for every high school student with three chords and the truth to pick up a ukulele and make a music video. Many bands, including OK Go, are able to make a living managing themselves without the aid of the music industry.

Which is great, but it also means that the band is responsible for all of the cost as well as all of the profit. By removing the barriers to entry, we have also removed the protective financial covering from failure. The entire landscape has changed and no one knows exactly what to do to make both music and a living.

The music industry is a great way to see how the movie industry might change over the next couple of years. Internet entertainment like The Guild, Dr. Horrible, and Sita Sings the Blues show that it is possible to be both entertaining and to make a living off creative work.

No one knows exactly what will work, so we have to keep on trying.