Give Away the Music and Sell the Show

Chris Anderson:

The major labels are freaked out: CD sales are continuing their inexorable decline and iTunes sales aren’t making up the difference. Meanwhile, tens of thousands of artists are giving away their music for free on MySpace, their own websites and independent MP3 blogs. This puzzles the labels. Don’t these bands want to make money from their art?

Many do, but they’re just smarter than most music industry execs. They understand the difference between abundance and scarcity economics. Music as a digital product enjoys near-zero costs of production and distribution–classic abundance economics. When costs are near zero, you might as well make the price zero, too, something thousands of bands have figured out.

Lucinda Williams’ Playlist

Winter Miller:

IMAGINE a time before alternative country. Before Americana and roots rock. Picture a corner office, sometime in the early ’80s, with record executives scratching their heads over how to market a talented singer, songwriter and guitarist from Louisiana named Lucinda Williams. Was she country? Folk? Blues? The answer of course was (and is) all of the above. A three-time Grammy winner, Ms. Williams will release “West,” her eighth studio album, on Feb. 13. A tour is scheduled to begin soon after, including a stop at Radio City Music Hall on March 23. Ms. Williams, 54, shows no signs of getting any less sexy with her lyrics or her taste in music. She recently spoke by phone with Winter Miller about what she’s listening to now.

Michael Lewis on the Hidden Economics of Baseball and Football

Russ Roberts:

Michael Lewis talks about the economics of sports–the financial and decision-making side of baseball and football–using the insights from his bestselling books on baseball and football: Moneyball and The Blind Side. Along the way he discusses the implications of Moneyball for the movie business and other industries, the peculiar ways that Moneyball influenced the strategies of baseball teams, the corruption of college football, and the challenge and tragedy of kids who live on the streets with little education or prospects for success.

audio.