Thoughts and discussion on the future of internet music services.
Tuesday, February 07, 2006
Joanna Glasner of Wired: Commentary on the Digital Music Biz
Commentary on the current business model employed by most online music sites. Although I would agree that Joanna is NOT the target market of these sites, that does not diminish the significance of her position. She describes herself as "business-model sensitive," but I would suggest her behavior mirrors the theoretical economic (wo)man. She is acting in her own self-interst, based on her tastes and preferences with regard to the product offering at hand in conjuction with her understanding/perception of the market. The current model seems to limit this thought proccess by offering only static pricing. Either the track is worth 99 cents or it's not. But what about 81 cents? Or 42 cents? The assumption that all tracks on earth are worth the same is not only asinine, it limits growth.
This gives me another idea about the user experience on the ideal site. A price threshold system that allows users to assign their value to tracks or albums. If the price, dictated by demand and the content owner's desire to sell more, dips to their threshold, the track or album is automaticaly purchased (or a notification is sent, depending on user preference).
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