Paradigm agent Mike Malak has urged to live business to take advantage of the opportunities offered by new technology.
Speaking in Music Week’s recent feature on how modern technology is reshaping the concert experience in the age of Covid-19, Malak likened the current situation to the issues facing the record business around the turn of the century.
“This is another version of when the record industry was going through trouble in the early 2000s with Napster,” he said. “That eventually birthed iTunes and streaming because the industry was backed into a corner – and I think COVID has just sped up something that was going to happen anyway.
“The legacy of this period can be that we work out new revenue streams for artists. I don’t think it would save us from not having live shows in the future, but it could protect us to a point where you’d be able to ride things out.”
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