Seth Godin recently gave a talk to record industry executives, and he's put a full transcript of his speech on his blog. I've extracted just a few teaser lines, but for it to make sense, do spend ten minutes reading the full thing. It's a crystal ball for the book industry.

"People don’t listen to companies, they listen to people."

"Interact with your best customers"

"People care very much about the tribal identification"

"For everybody under eighteen years old, it’s either free or it’s something I really want and I’m willing to pay for it. There's nothing in the centre. "

"Magazines are dead...but you can make a fortune with Playstation magazines, PC gaming [magazines], Game Informer, because there are silos of people who care a great deal.Magazines make 10x return on equity of books, you know why? Because magazines have subscribers and books don’t. So every time a book comes out they gotta run around looking for someone to buy it. Whereas the magazine people just look for the next author to write the next article. "

"There is a lot of music I like. There is not so much music I love. We gotta stop making music people like. There is an infinite amount of music people like. No one will ever go out of the way to hear, to pay for, music they like."

"I want to argue that the next model is tribal management."

You absolutely just have to go and read the full transcript.