‘The Music Industry Needs More Innovators and Fewer Lawyers’

Records lying on floor by 1970?s stereo systemNinety-nine percent of the data in existence was created within the past two years.

Yet, more than 99% of recorded music was created before the past two years. Recorded music was largely an analog phenomenon until the ’90s and the digital era.

The institutions that sprung up around the music – to record, distribute and monetize, even to secure copyrights and administer royalties – were all created as analog institutions, not forced to compete, or even exist, in a digital world until very recently.

The bulk of the data meant to help collect revenue for music rights holders is not ready for the digital world. Much of this metadata is incomplete. It is often in conflict with other data sources and does not form a complete picture of the recording it’s meant to describe.

Source: Music Business Worldwide

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