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For crying out loud, it's a business. And the buyers are kids. That never changes.
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Some buyers are kids, not all. I think that the notion that only kids want/buy contemporary music is a throwback to the early days of rock'n'roll, when there was a truer cultural divide between the classical or big band era (parents) and the new rock/pop that the kids listened to.
The kids - which now really means KIDS, as kids get older younger, the 16-18 year olds of the 60's are the 10-12 year olds of now - are a fickle and ludicrously short-term marketing prospect. There's a double-whammy here - not only is all this effort being put into trying to captialize on a short-term market, but we're doing little or nothing to nurture our future generations and develop their creativity and musical interest that will foster (a) a long term record buyer and (b) the creative talent of the future.
We're parents feeding our kids bubblegum instead of food, and the kids aren't gonna HAVE a future! A little bubblegum is fine, but where's the beef???!
The word "talent" has come up a lot in this thread. This sticks out to me like a sore thumb. Maybe I'm being pedantic, but mere talent was never good enough, was it? The music industry of old was not built on talent - it was built on GENIUS. Talent just fills in the blanks, picks up the slack, gives people something to do. Genius is what makes the difference.
Zeppelin, Beatles, Hendrix, whoever...all the names that keep coming up again and again.... these people were not merely talented. Cole Porter was not merely talented. Bob Marley wasn't merely talented. There's a long long list. The term genius is so overused and abused (like so much of the language) that it's lost its meaning, but I do think that this is perhaps the one thing that has changed - genius has all but disappeared from the music industry. Along with honesty and integrity. As a culture, we now seem to value conformity over creativity.
By "genius" I mean not just exceptional talent, but a spiritual involvement with the art, a visionary approach, an implicit understanding of music (or whichever discipline), an ability to channel something greater than simply craft, and at the same time, the practical down-to-earth ability to develop those ideas into fully developed end-products. A level of creativity that goes far beyond the mundane. Very hard to define or describe, very easy to recognize.
The good thing about geniuses is that they raise the bar for everyone else. They light the way. One or two even minor geniuses might help us out enormously right now.