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WSJ Scours Media for New Ideas

Yet another reason to subscribe to the Wall St. Journal. In this week's Technology Report, the editors take a 50,000 foot overview of the media world--tv, newspapers and the entertainment industry. The clip below is from a compendium of 'new ideas for old media.' For this clipped idea, I think their source went to the edge and then stopped. 'Sell the musician, not the music' sounds like a very cool idea and would lead to all sorts of sponsored events and web sites. Nah, they're just looking to get them acting jobs!

Link: WSJ.com - How Old Media Can Survive In a New World (Music section by Ethan Smith)

Don't sell music -- sell musicians. Record companies are in a paradoxical bind. Sales of recorded music have been falling for five years running. But musicians are more in demand than ever among a host of media and advertising outlets, from film studios to fashion labels to liquor companies. So Jimmy Iovine, chairman of Vivendi Universal SA's Interscope Geffen A&M Records, reasons it's high time people like him look for more outside deals to take advantage of their artists' visibility.

Mr. Iovine's company has struck a movie-development deal with Viacom's MTV Films and explored launching a music-video cable channel. Sony and Bertelsmann's Sony BMG Music Entertainment has said it is exploring a film-development arrangement of its own, although details are scarce.

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