Is Free Music Killing The Industry? - Nov 26, 2007
“If the best band in the world doesn’t want a part of us, I’m not sure what’s left for this business”It is already old news that CD sales are going down worldwide as result of Internet file-sharing and downloading, with record labels frantically seeking new avenues of revenue from music.
However, recent months saw some new developments that seem to mark a point of no return in this radical decline in the industry - first, it was EMI's takeover by Terra Firma, second, the growing trend of major bands and veteran stars - Radiohead, Prince, Bruce Springsteen, Madonna, Paul McCartney - to abandon the labels and offer new releases as free downloads, as giveaways inside daily newspapers, or as part of a deal with a coffee chain.
But is it really the end of record labels? HitQuarters' exclusive analysis suggests that there are actually plenty of signs to suggest the contrary.
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