The Economist magazine September 17-23 edition has a very positive article on Magnatune, Hear no evil (subscription required).

Magnatune has exceeded Mr Buckman’s expectations in music licensing, another side of the business that has played a big part in helping it reach profitability. For non-commercial use, such as a school project, the site allows music to be used under a “Creative Commons” license, a concept devised by Lawrence Lessig, a law professor and crusader for internet freedom. For commercial use, Magnatune makes licenses available quickly and cheaply online. This business is growing at 30%, as Magnatune has become popular with independent filmmakers looking for soundtracks.

The article also contains a key challenge and opportunity for Magnatune, Creative Commons, and the Internet:

Magnatune’s weakness is that it does not have the resources to propel its artists into the mainstream via radio and television.

…

It will only take one rock star born on the internet, after all, for everyone to pronounce the old model completely dead.

It’s about discovery now.

Posted 21 September 2005