Media Research Exec Says Music Industry Is On Its Last Legs

Ponca City, We Love You writes "For years, the major record labels have fought a pitched battle against the MP3 format. Although major labels like EMI and the Universal Music Group have embraced MP3s in recent months, a story from the Mercury News says early returns from those moves indicate they've had little impact on the industry's fortunes — for better or for worse. 'These are ailing businesses on their last legs,' said Eric Garland, chief executive of BigChampagne, a market research company focused on digital media. The question of copy protection on song downloads 'matters a whole lot less to them than it once did.' The industry has a bigger problem. Consumers used to buy CDs for $10 or $15 a pop. Increasingly, they're buying songs at about $1 apiece instead. So, even if transactions continue to increase, the industry is seeing far less money each time consumers buy and it's having a difficult time making up the difference."

Comments

So long Music Industry...

[PollGuy]

So long Music Industry, and thanks for all the Phish!

And here is me...

[Jaysyn]

...playing the world smallest violin.

Re:death of the industry or of the album?

[GodfatherofSoul]

You, Sir, were not alive in the 80s.

Re:death of the industry or of the album?

[spyrochaete]

I was going to dial 867-5309 to ask for a witty retort but instead I ran - I ran so far away.