Music Biz Predicts 6% Decline in '03

jonerik writes "According to this article from Reuters, music industry executives gathering this weekend for the global music industry conference Midem in southern France are being told that a 6% industry-wide decline in sales is being predicted for 2003; not as bad as last year's 9% decline, but bad enough since '02 and '03 come on top of a five percent dip in 2001 and a 1.4 percent fall in 2000. As a result, talk of consolidation is rampant at the conference, with the most likely scenario being a buyout of EMI by BMG-Bertelsmann. Critics, however, are skeptical that the labels' problems will necessarily be solved by simply bulking up. 'The politics at the major labels hasn't changed. The guy who puts his neck out on the line could get fired. Whereas the guy who keeps his head down is safe, and he gets to keep his BMW for another year,' said Paul Myers, founder of Wippit.com, a subscription download site."

Comments

Re:I predict a 6% decline

[Theanswriz42]

Too bad you couldn't spell "post" correctly.

[nelson]

[djcatnip]

HA ha! [/nelson]