WHY FEWER DOTCOMS IS GOOD NEWS.

What a difference a year makes. The most common observation made by many of us just returned from Midem, was the distinct lack of interest in internet companies compared with last year. At Midem 2000 dotcom companies abounded, taking over a whole floor at the festival. Now though, as with many other kinds of business who dabbled in the internet, reality has kicked in, and the almost hysterical enthusiasm for any dotcom company has long gone. In the process many investors have no doubt got their fingers burnt badly. I for one am not sorry, as very few of those out to make a quick buck at Midem 2000 seemed to have either knowledge of or interest in the music business.

Lots of people ask why the majors don't take part in the biggest convention of all. The answer is simple -- they just don't need to. They usually have little or no interest in what music the person in the street is playing or selling or what trends might develop for the future. However, a lot of the major players in our industry were in Cannes, but they spent ...