If Rick Rubin, one of music industry's leading living producers (e.g. Beastie Boys, Tom Petty, Johnny Cash, AC/DC, Dixie Chicks, Kid Rock and many more), and co-chairman of Columbia Records says that the current record label business "model is done," than what's the next model for musicians and bands?  This is the question that scores of online music communities, web sites and social networks are trying to answer. Since consolidation of these companies is ongoing, it's still difficult to say what the industry will look like in 3 to 5 years. But, I doubt it will be based on a subscription model, and/or any further reduction in song prices, as I don't think musicians will tolerate that. While many of these companies will not exist in a couple of years, they will certainly have contributed to the overall knowledge that will form the music industry of the future.

Interestingly, this belated revelation from Rubin has limited significance for indie musicians, as you've never depended on the labels to make your careers, and you've always taken a DIY approach, which is wreaking havoc on the labels as confessed by Rubin. However, more of the music management and business responsibilities fall on your shoulders if you are not working with a label (it's not called "music business" by mistake), so you will need to get serious about all aspects, which include: marketing, promotion, networking, publishing, digital distribution, accounting, legal, etc., and start running your band more like a business (more on this tomorrow).

As always, I welcome your comments.

Peace.