Sam Gustin reports on Conde Naste's Portfolio.com site that Warner Music's head honcho Edgar Bronfman, Jr. has hired noted music industry exec Jim Griffin, formerly Geffen Music's digital chief, to lead Warner's drive to fix the music industry's business model. Griffin will reportedly focus on getting the ISPs to add an amount to their subscriber fees that would underwrite access to all music tracks. An organization would be created to return fees to labels and artists. Gustin says that Griffin has a three year contract.
It will be interesting to see whether all the interested parties are willing to participate and on what terms. The major and lessor known artists, major and independent labels, royalty collecting societies (such as ASCAP, BMI, and CISAC), concert promoters, venue operators, fan zines and web sites, etc. may have divergent economic interests. Griffin has a major cat herding effort in front of him.