The Economy Grows

Earlier in the advisory text we wrote that more than 99% of all projects fail. Does it have to be this percentage? Can there be only one at the top? Is it a battlefield, where one man's loss is another man's gain? Actually - no.

The answer might surprise you, but the economy isn’t a big un-dynamic cake where the total amount of pieces is always equal to the whole, it is growing and getting bigger as people are building and creating new things, and room is created for more and more players.

Of course, there can only be one song on top of the Billboard chart, but apart from this inevitable fact, the music industry is growing fast. The interaction between the music maker and the listener will grow greater than it is today, and this will benefit everyone involved. An act with a small sales profile that floats on 20.000 albums a year will sell 40.000, if the industry doubles itself, which it has within the last 8 years. There is no reason why the industry shouldn't be able to double itself again in a shorter period. Every time this happens, obviously the amount of people who will be able to support themselves by making music also doubles.

Do you think it sounds like a naive utopia, that more and more people should become musicians? It’s not. It's merely a change in our society, which is best understood from a historical perspective. 200 years ago, about 80-90% of the population needed to work with agriculture to support a hungry country. Today, it takes only 4% to feed a whole country in the industrialized world. People are working to produce other things, and the fastest-growing sector is entertainment, which was almost unheard of 200 years ago. What we see today is a continuation of a trend that has been going on for a long time and is now speeding up with the internet-era.

How does an economy grow?

By cutting out time and resources in the making of a product and by shortening the time and cost for it to reach its consumer. Applying this to the music industry would mean, for instance, less extra work for an artist to get his song released. When the economy grows this is shown, e.g., in cheaper music equipment, greater flow of inspiration from other artists and an easier way to find your collaborators, the latter being helped by this web-site.

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