A survival strategy for the music industry
As the music industry begins to buckle under the weight of digital downloads it is finally dawning on the Empire that the rebellion cannot be halted. No amount of marketing mind tricks are going to stop the decline in music sales.
According to research commissioned by British Music Rights 63% of people illegally download and some 48% of MP3 tracks are not paid for. Worst news still is that only 15% of people are dissuaded from uploading because of the risk of being caught. Clearly the industry is facing a challenge greater than a ’small minority’ of serial uploaders! PricewaterhouseCoopers is predicting a 0.6% compound annual decline in music spending over the next four years ($33.4bn in 2007 to $32.5bn in 2012. Not exactly the end of the planet as we know it but the Music Industry can certainly see it from there.
So what to do? Well for all you Music Fat Cats out there here is my top five survival strategies. [Read more]
