- Physics has changed: physical media --> (no, I mean binary things like , streaming, etc.)
- Contol/Power has shifted: recorded studios --> artists and fans
- Price came down the curve quickly.
The fat profits to recording companies are at best marginalized by the adoption of digital formats and piracy. When all things seem gloom and doomed, there are still positive things about the whole paradigm shifts.
- 53M sold in 2007
- 36% y/y growth in
- 25% y/y growth in
- 40% y/y increase in worldwide sales
- 8% y/y increase in concert sales
I don't know what the answer is for this industry. Just like in any other industries, innovations must be experimented and questioned. What I can tell from my small world is that something dramatic needs to happen (for better or worse) and the whole innovations will cost numerous deaths and a few trophies for those who have the "golden" key. And most importantly, the industry as a whole needs to change the mindset of looking at the opportunities, because the good ol' days are indeed over.