Brave new markets...

From musician/recording/music biz site, Harmony Central:

Phil O'Keefe wrote:

Are magazine publishers making the same mistakes major labels did?

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IOW, relying on outdated models and failing to develop new paradigms in the digital age?

I thought this article was interesting, and I think there are some similarities there.

http://blogs.moneycentral.msn.com/to...n-digital.aspx

Thoughts?

Others added their observations; I responded:

This genie don't go back in that little bottle.

I think folks who think the magazine industry can continue to cling to the all or nothing for a year subscription model are fooling themselves.

But until we as an economic system finally have a practical and efficient micropayment system in place, the true nature of the wired economy will be stymied and stunted.

Only when you can have a payment efficiency that makes very small transactions/payments possible and viable will a truly efficient wired economy take shape.


Of course, the implications and consequences of such a system are utterly terrifying to many interests vested in today's ineffecient and turgid transactional models.

Lee Knight responded:

Absolutely!

Ever the optimist, I added:

Well, be careful what you wish for.

When such a system is finally in place (various micropayment-like systems are already in use in local economies in some parts of the world) and accessible to all, it will almost surely mean an end to much of the free content out there... as content providers vie to find new, sustainably viable market equilibria.

Brave new economies are coming... someday.