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Keyword: industrysuicide

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  • The Record Industry's Decline

    06/29/2007 10:29:49 AM PDT · by ShadowAce · 131 replies · 2,741+ views
    Rolling Stone ^ | 19 June 2007 | Brian Hiatt and Evan Serpick
    For the music industry, it was a rare bit of good news: Linkin Park's new album sold 623,000 copies in its first week this May -- the strongest debut of the year. But it wasn't nearly enough. That same month, the band's record company, Warner Music Group, announced that it would lay off 400 people, and its stock price lingered at fifty-eight percent of its peak from last June. Overall CD sales have plummeted sixteen percent for the year so far -- and that's after seven years of near-constant erosion. In the face of widespread piracy, consumers' growing preference for...