Save The Music: A Modest Proposal For Government Intervention

[reorg]

AIM - American Association of Independent Music

COMMENTARY: SAVE THE MUSIC

November 4, 2008

A Modest Proposal For Government Intervention

TOMMY SILVERMAN

Now that the government has bailed out the banking system, it should take action to rescue the four major labels and the independent companies represented by Merlin. The U.S. recording industry, worth $14 billion in retail value when George W. Bush took office, has fallen to $9 billion today.

Could it be a coincidence that the music industry boom ended in 2000, just before the 8-year slide in the American economy? Music has been one of America’s most important exports, as our inventions; jazz, blues, rock & roll and hip-hop are all enjoyed worldwide. Rock & Roll did more to bring about the fall of the Soviet Union than the CIA. A strong music business is a matter of national security.

The precedent for government intervention is well established. This year alone, Congress has authorized $25 billion in loan guarantees for Fannie Mae and Freddie Mac, a $700 billion asset relief package for banks and a $25 billion bailout for Detroit automakers. If they’re helping Motor City, shouldn’t they do something for Motown?

(...)

Of the four major labels, only the Warner Music Group is an American company; the others are owned by the Japanese, British or French. Just as the government prevented a Dubai company from safeguarding American ports, it should take steps to stop rock & roll from slipping away to foreign control. At the very least, they should fund the purchase of the Elvis Presley catalog back from the Japanese. ...

Read more ...

[Berry Cool]

1. I demand an immediate fusion of money into Cleveland

just because we rock.