Recording industry is dying


And it is their own fault when they tried to screw their customers
Rolling Stone has a great piece on the decline of the record industry.

The fascinating bits are on pages two and three, including this surprising admission on page three.

Rosen and others see that 2001-03 period as disastrous for the business. "That's when we lost the users," Rosen says. "Peer-to-peer took hold. That's when we went from music having real value in people's minds to music having no economic value, just emotional value."

In the fall of 2003, the RIAA filed its first copyright-infringement lawsuits against file sharers. They've since sued more than 20,000 music fans. The RIAA maintains that the lawsuits are meant to spread the word that unauthorized downloading can have consequences. "It isn't being done on a punitive basis," says RIAA CEO Mitch Bainwol. But file-sharing isn't going away -- there was a 4.4 percent increase in the number of peer-to-peer users in 2006, with about a billion tracks downloaded illegally per month, according to research group BigChampagne.

That is exactly right.

The entire industry killed the value of it's own product in the minds of the public, and now the bottom is falling out.

Watch for the fire sales.

— NeoWayland

Posted: Mon - June 25, 2007 at 03:00 PM  Tag


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