Why did Sean Parker (of Napster / Facebook / Spotify fame) join one of the consortia bidding for Warner Music Group? He explained at the e-G8 conference in Paris yesterday. “I think that there is a pretty dramatic change in the way music is monetised that is on the cusp of happening. Back catalogues of record labels are going to become extremely valuable,” said Parker. “If you believe this transformation is occurring, if you believe the broken distribution systems are on the verge of being fixed, those recordings are dramatically undervalued.” Parker referred specifically to Spotify as a service where “it’s the back catalogue that is driving the consumption”, and went on to predict great things for the industry. “In the last 10 years we have presided over the greatest destruction in value in the history of the music industry. Assuming we can stabilise things and restore growth, it shouldn’t be that difficult to preside over the greatest increase in value in the history of the recorded music industry.” Source: Financial Times

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