Why Should Banks Treat The Music Industry Different from Any Other industry. Seriously
There has been a fair bit of moaning from the music industry regarding the lack of government and bank support for the music industry. Specifically, the music industry has complained that banks have refused to give loans to start up record labels and independent musicians, and because of this the music industry is up in arms. This is fascinating; why should the music industry receive special treatment? There seems to be no grounds for this type of complaint.
According to Music Management Forum’s chairman and Radiohead manager, Brian Message, the government that’s in power has to recognise that there is blatant discrimination when it comes on to the music industry and how it is treated by those institutions with the money. Something should be done to rectify the situation he believes and suggests that they either fix the system that currently exists or come up with something that brand new.
Maybe I’m just an old man, but I remember the days when a band had to work their way up from the bottom. They would make their bones in the clubs and maybe record something in their basements or garages and they would hope to get discovered based on their skills and abilities. These days, it appears that musicians want special treatment because they are “rockers”; and therefore deserve for the government to pay for financial advisers? This is ludicrous. Why should the banks bend over for the music industry? Let’s look at it this way: a loan officer at a bank has the ability to give two loans. He receives 3 applicants: two from small business owners and one from a garage band. Why should the garage band get the loan instead of the two small business owners? What is better for the economy?
Becoming a successful musician (that is to say a band that can actually earn a living from their craft) is radically low. For a bank to want to help a small emerging musician is a dangerous roll of the dice for banks.
But the British music industry has over the years earned billions of pounds from their music and other sources, so shouldn’t it be able to support itself whenever a time of crisis occurs. I think they should. What these people want is something for nothing.