Former Yes keyboardist Rick Wakeman expressed his belief that the record industry could be revitalized with surprisingly minimal effort and outlined his vision for achieving this transformation. In a recent interview with Rick Beato (see the video below), the keyboard legend emphasized that industry leaders lacking a genuine understanding of music have overlooked a crucial element in marketing their products—creating a sense of community among fans.

Wakeman criticized the industry’s current focus on selling music through online physical and digital platforms, a strategy favored by executives for its potential to maximize profits with minimal effort. He argued that if the industry were still populated by individuals passionate about music—similar to how it was in its heyday—they would recognize that increasing record sales could be quite straightforward by fostering a more engaging atmosphere.

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“The decline of local record shops has been detrimental,” Wakeman lamented. “Not too long ago, walking into a record store meant encountering thousands of albums. You would sift through them, and often, another customer would strike up a conversation, saying, ‘Have you checked out the new Jethro Tull album?’ These spontaneous interactions fueled discussions about the incredible music we discovered. It was a vibrant exchange of recommendations that enriched our listening experiences and connected people through shared interests.”

He further elaborated, “Now, that communal aspect has vanished. The current online shopping experience lacks any social interaction. When you shop online, you typically find exactly what you intended to purchase. However, stepping into a record store opens up the opportunity to discover unexpected treasures, something that the online experience can’t replicate. That enriching experience of surprise and discovery has been lost.”

Rick Wakeman’s Vision for Revitalizing the Record Industry

Wakeman proposed his vision for rejuvenating the music retail landscape, drawing inspiration from the era of Tower Records while advocating for a modern adaptation. “Imagine a space where vinyl records and new CDs coexist with vintage CDs and vinyl for exchange. Additionally, dedicated sections for digital downloads could enhance the shopping experience, and let’s not forget the revival of listening booths! Incorporating a cozy coffee shop area would encourage people to mingle and share their musical discoveries with strangers, fostering a true community vibe.”

At the heart of Wakeman’s vision is the importance of interaction. “Music is fundamentally about connection and communication. I truly believe that reviving this sense of community in music retail wouldn’t be overly complicated. All it requires is a few forward-thinking record companies willing to embrace this idea.”

“The revival of diverse formats for music consumption is crucial,” he continued. “Currently, the industry seems fixated solely on the concept of streaming. However, in my opinion, the music industry today lacks its original essence. Fortunately, it’s not too late to reclaim that essence and bring back the vibrancy of music appreciation.”

Watch Rick Wakeman’s Interview