Little genius Prince has put the real value back into music

What tosh! HMV is still stocking The Mail On Sunday, so you can still pick up a copy there - and there are more than 650 copies of Planet Earth on sale on eBay. And, of course, you can buy it from most online sources.

Which renders the refusal by Prince's record company SonyBMG to distribute the album to retailers a little pointless. Of course, you can understand SonyBMG's irritation with the diminutive one and his advisers but you shouldn't cry for them. They'll still be able to cash in on the huge publicity this episode has generated by selling the album in all other global territories. This Prince album will almost certainly sell more worldwide than if he hadn't decided to give it away free with a newspaper. Except, of course, Prince didn't just give it away. I understand that The Mail On Sunday paid about £500,000.

Many critics, most of them frothing at the mouth like Jeremy Clarkson being forced to drive an electric car, have declared that Prince is devaluing music. Except that Prince has certainly not been devalued. On a purely monetary basis his strategy (and it seems that it was Prince who approached The Mail On Sunday) is clearly genius.

On top of the dough he has pocketed from the newspaper (he'd have to sell more than 400,000 albums in the UK to match that figure and he's not done that for a long time), the publicity has certainly contributed to Prince selling out at least 18 of his 21 shows at the 02 arena. The venue holds 20,000 people.

If all 21 shows sell out, the whole run will make more than £13m, and that's not even taking merchandising into consideration. Not a bad return for someone devaluing music.

This episode highlights one central, unchanging truth. The music business just has no idea how to operate in the digital age, no clue how to evolve from the "find music, make music, market music, sell music in shops" model. No idea whatsoever.

Last week saw the publication of figures that showed that album sales were down 10 per cent. That is a huge hole in revenue and one that needs to be plugged.

Prince's move shines a light on one path that could be followed to bolster artists' fortunes. Music is so readily available now and so easily found, it has almost become worthless.

Rarity is inherently desirable: people will pay to hear something first, before anyone else. This is what Prince has capitalised on.

He knew that within a week Planet Earth would be all over the internet and its value would have plummeted.

By restricting access to his new album, however briefly, he has made music valuable again. Now it's up to the music business to follow his lead.

Agree? Disagree? Email me: soundingoff@ thelondonlite.co.uk