Sep 02 2010
Many hands have been wrung about the future of music. The music industry has seen year over year of increasingly steep declines for a decade. Think about that for a minute: in 2001, the business fell by 3%. In 2002, it fell another 11%. In 2003, it recovered slightly. But the dead cat bounce was confirmed in the subsequent years. The industry has posted double digit declines in 2006, 2007, 2008, and 2009. In 1999, the industry was $14.3 billion. In 2009, it was less than half – $6.3 billion.
Can you hear the clanging death bells? Music will surely die! This fate has been proclaimed everywhere, but, of course, misses the point completely. If we learned nothing else from the housing bust, let us at least remember that more isn’t always better – sometimes it’s just more. Continue Reading »