Lefsetz Letter: Thom Yorke’s BitTorrent Album
The paradigm has shifted. It’s about plays as opposed to buys. Create something great and you will be paid forever, as people listen down the ages. And of course streaming payments will go up, and to fight this is to be the lone Dutch boy with your finger in the dike, it’s futile. Your job as a musician is to create great art, not to change the business model. Because the truth is the business model has been changed not by the techies or the labels but the consumer. Sure, they were enabled by the techies, but it turns out the public doesn’t want to pay a lot for an album, oftentimes they don’t want the album at all.