When Will They Ever Learn?

We keep reading reports of the demise of the Recording Industry as we knew it. Frankly, I think we’re all better off. Judging from the past we’re in better hands with the new guard – those that are starting with a fresh new approach based upon the realities of the present day.

A Short 25 Year History of the Record Business in Headlines

1980s – 25 years ago
Major Labels (Sony-BMG, EMI, Warner, Universal) Cut Back Jazz Record Divisions
Majors Cut Back Adult Contemporary – say, “Only Pre-Teens and Teenagers Buy Music Anymore.

1990s – 10-15 years ago
Music Industry Focuses Mainly On Teens and Pre-teens
Many Music Giants Can’t Get a Record Deal Anymore – Too Old

2000 - Turn of the Century
Through Napster, Teenagers Rob Music Industry Blind
“This Ain’t Stealing, The Music’s Free!”
Teenagers all across America
Record Business Tanks
U.S. Government Shuts Down Napster

2006
2% of All Music Sold as Digital Downloads Off the Web
Majors Ignore Digital Download Trend
File Sharing Continues to Tank Music Business
HMV, Tower Records, Sam Goody Shut Their Doors

2007
20% of All Music Sold as Digital Downloads Off the Web
Majors Sit and Twiddle Their Thumbs While…
i-Tunes Sells Its First Billion Digital Downloads
Majors Continue To Ignore Power of the Web
No Record Stores In the Top 10 Music Retail Outlets
Walmart Leads the Way

2008
i-Tunes #1 Seller of Records on the Planet
Passes Walmart as Top Retail Outlet
Majors Begin to Stir from 25 Year Lethargy
3 of 4 Major Labels Form Joint Venture with MySpace
Big Labels Considering Giving Away All Music for Free Will Make Money On Advertising

So is this the way to revitalize the record Industry? Judging by the gross mistakes of past history, probably not. Rather it’s simply a blatant attempt on the part of the major labels to raid what was ostensibly a home for independent artists. It sadly shows how desperate they are to maintain their declining market power.

WHEN WILL THEY EVER LEARN?