Midas Oracle points me to a fascinating lecture on Trent Reznor's business strategy. In short, Reznor has found a way to make money in the music business without relying on copyright. The lecture is excellent. I've known lots of the bits and pieces, but the presentation below puts it all together nicely. I'm generally opposed to using Powerpoint or videos in my lectures, but I will air this one in the week I spend on the economics of copyright in my current topics class.
I used to say that David Bowie was the smartest guy in the music industry because he came up with a way of consuming today future royalty streams: Bowie Bonds. You could even argue that Bowie was there hedging against risks caused by effective copyright erosion.
Today, Reznor's the one to watch.
Full disclosure: have been a fan since Downward Spiral. Not that I don't like Pretty Hate Machine; just that farmboys from southern Manitoba had barely heard of Skinny Puppy and Ministry in the early 90s. Nine Inch Nails didn't show up on the radar there 'till 1994, or at least not on my radar.