|
I know several executives in the music industry who have echoed what David's said... but won't state it on record.
The music industry failed to recognize the internet as a future revenue stream, failed to protect it and that has led to the level of piracy we have today. Its a bit like a business without its own security. What they've done is gone cap in hand to the authorities... who've come to their aid, and that's what we're seeing now.
The other problem they have now is sourcing and managing talent. The advent of sites like myspace have short-circuited the publishing process and eliminated record companies from the picture. How many new Michael Jackson's, Madonna's U2's have we seen in the last 15 years ? None and we will probably never see megastars like them again.
By the way, my record company friend has said that the emphasis now and in the future will be live gigs and tours... licensing revenue's gone.
|
|
|