p2pnet - rss feed: The music industry:
Online peer-to-peer piracy, counterfeit CDs, the end of the CD boom when music fans updated vinyl collections, the rise of competing video games, mobile phones, etc, and DVDs have all been blamed for the music industry’s current crisis.
And things, "are going to get worse before they improve for a music industry brought to its knees by music piracy and file sharing," claims a report quoted in a Guardian Unlimited story here.
It doesn’t mention a buyer-base splintered beyond recognition or recovery by ongoing RIAA lawsuits, bad and grossly over-priced product, antiquated business models, appalling policy, public relations and strategy decisions, and that the music industry is now so far behind the online music curve it’ll never catch up, as major contributory factors.
The report, from Informa Media, predicts the value of global music sales will drop for the fourth year in a row to £16.5bn this year and will fall even further next year.
However, although the total number of CD sales, which fell for the first time in 2001, will continue to slide, dropping by 8% to 2.1 billion units in 2003, "the Informa analysis predicts a recovery will be under way by 2005 provided record labels can get to grips with piracy and support legal digital download services".
