MTV has declared the music industry broken and that is actually a good thing (unless you’re a recored executive). It is a hard time for musicians though as the industry catches up to this whole “interbookwebspacenetjournal.com” thing.
I would personally advise artists to hold on to their publishing rights (well, as much of them as they can). Publishing royalties are how you get paid if someone covers, samples, or licenses your song for a movie or commercial. This, for a songwriter, is your pension plan.
Increasingly, it’s possible for artists to hold on to the copyrights for their recordings as well. This guarantees them another lucrative piece of the licensing pie and also gives them the right to exploit their work in mediums to be invented in the future — musical brain implants and the like.
No single model will work for everyone. There’s room for all of us. Some artists are the Coke and Pepsi of music, while others are the fine wine — or the funky home-brewed moonshine. And that’s fine. I like Rihanna’s “Umbrella” and Christina Aguilera’s “Ain’t No Other Man.” Sometimes a corporate soft drink is what you want — just not at the expense of the other thing. In the recent past, it often seemed like all or nothing, but maybe now we won’t be forced to choose.
Ultimately, all these scenarios have to satisfy the same human urges: What do we need music to do? How do we visit the land in our head and the place in our heart that music takes us to? Can I get a round-trip ticket?