Rundgren says traditional record companies becoming extict

The latest issue of the IEEE’s Spectrum Magazine has an article on DRM which includes a number of quotes from Todd Rundgren . ‘Rundgren believes traditional record companies are on a path to extinction. To survive, he says, they’ll have to become more entrepreneurial, promote their artists better, and recoup their investments in artists by sharing in performance income or other ventures, not through selling recorded music.’

“The reality of the music industry,” he said in a phone interview from Raleigh, N.C., “is that artists don’t see money from their recordings; we capitalize on music we have recorded by going out and performing live. It is actually more worthwhile to give your music away—and make it up in terms of ticket sales.”

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