Slashdot Mirror

← Back to Stories (view on slashdot.org)

Music Biz Predicts 6% Decline in '03

Posted by michael on from the need-more-midriff dept.

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."

5 of 400 comments (clear)

  1. Imagine That by killmenow · · Score: 5, Insightful

    Economy slumps
    Music sucks
    Downturn...must be piracy.

  2. Obligatory Business Plan by The_Rippa · · Score: 5, Insightful

    Seems like...

    1. Sign shitty artists
    2. Sell shitt CD's
    3. Piss on consumers rights
    4. ??? (anything but restructuring)
    5. Lose profit

    Wait...that doesn't work

  3. Raise the Price... by johndiii · · Score: 5, Insightful

    ...and sales go down. Did these people take basic economics? The soft economy no doubt helped. Of course, the industry blames piracy...

    --
    Floating face-down in a river of regret...and thoughts of you...
  4. See what your P2P piracy has done! by stratjakt · · Score: 5, Funny

    What's 6% of a bazillion, anyways?

    Of course in this economy, lots of industries would give their first born for a mere 6% decline.

    --
    I don't need no instructions to know how to rock!!!!
  5. What they don't mention here.. by graphicartist82 · · Score: 5, Interesting

    is the fact that they put out less CD's than they have in previous years..

    begun, the flame war has..