Music Industry turmoil

The music industry is in turmoil, searching for a new business model, according to this NYT article about Rick Rubin, who is now jointly running Columbia Records w/ Steve Barnett. Rubin says that a subscription model might be the answer. If this is the case, Columbia can continue to focus on producing great product, which the masses will consume on a monthly basis for a flat fee. Who knows if there is more to this idea than Rubin offers up in this on-the-record interview. Barnett, btw, is quoted as saying healing the woes of the music business is not as easy and simple as Rubin hopes.

The time is ripe for new tech/media entrepreneurs to really get in on the action here.