(Classic Rock) Pink Floyd drummer Nick Mason says record labels have more work to do if they want to remain relevant in the modern world. The drummer – who's co-chair of the Featured Artists Coalition – accepts Floyd found it difficult to adjust to the 21st-century environment. But he insists labels have their own soul-searching to do, particularly in the area of discovering new talent.
Admitting he has "absolutely no idea" how Floyd might have made it if they were starting out today, he tells the Wall Street Journey, "Record companies can no longer afford to do the sort of development for new artists that they used to do. Launching new artists or bands has simply become too expensive for them now that their business model and their revenues are under pressure.
"We're going to have to find other ways of identifying the grassroot talent out there. As artists we used to have a ladder that we needed to climb – but now it feels like the first four rungs are missing." more on this story