Steve Miller on Rock and the Music Business

Barry Ritholtz is a Bloomberg View columnist. He founded Ritholtz Wealth Management and was chief executive and director of equity research at FusionIQ, a quantitative research firm. He blogs at the Big Picture and is the author of “Bailout Nation: How Greed and Easy Money Corrupted Wall Street and Shook the World Economy.”
Read More.
a | A

This week on Masters in Business I sit down with Steve Miller -- yes, that Steve Miller -- of the Steve Miller Band. A set of coincidences led to this interview -- John Pizzarelli led to Lawrence Juber which led to Miller -- in which we discuss music, technology and the future of the music industry.

Miller tells about meeting the Rolling Stones, the Beatles and other greats of the 1960s, recording with Paul McCartney, and why he has since come to accept McCartney’s thesis that the first take is always the best one. We also discuss the business of music, which wasn't especially fair to musicians in the first place, and how much worse it has become thanks to technology. Tech companies such as Spotify, Pandora and Apple are making money while the artists make next to nothing on streaming services. We also discuss why the Rock and Roll Hall of Fame is failing to fulfill its cultural agenda.

You can hear the full interview, including the podcast extras, by streaming it below; you can also download the podcast at iTunesSoundcloud or Bloomberg. All of our earlier podcasts can be found at iTunesSoundcloud and Bloomberg.

This column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.

To contact the author of this story:
Barry Ritholtz at britholtz3@bloomberg.net

To contact the editor responsible for this story:
James Greiff at jgreiff@bloomberg.net